Next Graphite Announces Successful Startup of Aukam Processing Plant and Initial Shipment
LOS ANGELES, CA. , May 15, 2018 (GLOBE NEWSWIRE) -- Next Graphite, Inc. (OTC PINK: GPNE) ("Next Graphite," "GPNE" or the "Company"), a graphite development company out of the Republic of Namibia and co-license joint interest holder in the Aukam vein graphite project, is pleased to announce that its Aukam processing plant has been commissioned successfully and an initial shipment of graphite concentrate has been made.
The Aukam processing plant was constructed between December 2017 and March 2018, with initial throughput and optimization reached during March and April 2018. To date, the plant has generated 5 tons of graphite concentrate grading between 88%-95% Carbon as Graphite (“Cg”) of which 2.5 tons of concentrate has been shipped to Perpetuus Carbon Technologies (“Perpetuus”) for the manufacture of graphenes to be used in the automobile and bicycle tire industry. Next Graphite’s joint venture partner, Gratomic Inc. (“GRAT”) (GRAT.V) (CB81.F), is currently in collaboration with Perpetuus to build on Perpetuus’ capability to initially provide approximately 550 tons of surfaced modified graphenes per annum to support the volumes required by the tire manufacturing industry. Once the market has been established, Perpetuus states that it has the capability to elevate capacity to 1000’s of tons per annum of graphite derived surface modified multilayer graphenes / graphene flakes (“GNP’s”).
The first cycle tire order for the graphenes to a globally recognized brand is planned for delivery at the end of the second quarter of 2018. Additional applications that have now been generated in a pre-production format include radiant heating membranes and super hydrophobic coatings with an addressable market that includes: marine, oil & gas, power generation, industrial (repair & maintenance), infrastructure (new build) and automotive & transportation, among others.
The Aukam processing plant uses a simple crushing, grinding and flotation system with a current capacity of 650 tons per annum. Construction is already underway for the installation of a larger mill with an 11,000 ton per annum capacity.
Graphite Feed for the Aukam processing plant is obtained from screening and sorting of stockpiles existing from historical and recent mining. An average feed grade of 56.29% Cg with a range of 41.55% Cg to 63.87% Cg was determined from ten 2kg to 30kg grab samples from across the stockpiled lumps. Note that assays of grab samples should not be taken as necessarily representative of the mineralization on the Aukam property as a whole.
“The successful start-up of our Aukam processing plant is a major milestone for the Company, one that allows our JV partner to begin feeding concentrate to Perpetuus for the manufacturing of graphenes for use as a material enhancing filler within tire elastomers”, said Cliff Bream, CEO of Next Graphite.
About Next Graphite, Inc.:
Next Graphite Inc. is a development stage company targeting the growing specialty graphite production industry. Our JV partner is an advanced materials company focused on mine to market commercialization of graphite products most notably high value graphene-based components for a range of mass market products. They are collaborating with a leading European manufacturer of graphenes to use Aukam graphite to manufacture graphene products for commercialization on an industrial scale.
The Company’s Africa-based Aukam Graphite Mine was established in 1940 in the current Republic of Namibia and produced USD $30 million of graphite at today's prices. The site is located on approximately 69,000 acres (27,870 hectares) in southern Namibia close to the port city of Luderitz and is estimated to contain a significant amount of high grade, vein type graphitic material. The property hosts three underground adits that were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property. Next Graphite’s joint venture in Namibia maintains high safety and environmental standards and has a comprehensive strategy of social engagement.
For more information, please visit: www.nextgraphite.com.
Safe Harbor Statement:
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next Graphite Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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