Lomiko Metals Inc. (TSX code: LMR, OTC code: LRMMF, FSE: DH8C) ("Lomiko Metals" or "Company") announced that, following its date of November 4, 2021, and in SEDAR ( "Circular"), it hopes to provide its shareholders with more information regarding the extension of the transaction period for the sale of the company’s wholly-owned subsidiary Lomiko Technologies Inc. to Promethieus Technologies Inc. under the Business Companies Act (BC).
The circular mentions that the share purchase agreement was signed on July 31, 2020. The company hopes to correct this information because the agreement was actually signed on July 31, 2019. The shareholders initially approved the transaction at the 2019 general meeting of shareholders. The share purchase agreement was subsequently revised, and the dates for the revised agreement were December 10, 2019, June 20, 2020, and October 5, 2021. Due to Brexit and Covid-19, the transaction has never been completed, so shareholders are invited to consider and approve the reasons for a special resolution authorizing the renewal of the share purchase agreement in the circular to the new deadline of November 30, 2022.
The independent directors who approved the share purchase agreement in 2019 and the extension in 2020 are Julius Galik and Gabriel Erdelyi. Mr. Galik's resignation as a director will take effect on December 17, 2020. Mr. Gregg Jensen succeeded Mr. Galik as the independent director overseeing the transaction and has approved the circular. The independent directors have confirmed that the economics of the transaction have remained unchanged since the signing of the share purchase agreement in 2019.
For more information about the transaction, please refer to the circular. The company also wants to remind shareholders that its annual extraordinary general meeting will be held on Monday, December 6, 2021, at 11 a.m. (Eastern Time).
The company announced that it has submitted the year-end financial statements and management discussion and analysis on July 31, 2021 on www.sedar.com.
Lomiko Metals is committed to supporting the decarbonization of our economy, and continues to work and actively work to advance the La Loutre graphite project from the preliminary economic assessment ("PEA") to the pre-feasibility stage ("PFS") stage and continue to explore Bouurier lithium Projects to support the growth and development of Canada’s critical mineral supply chain.
Lomiko Metals has a new vision and new strategy in the field of new energy. Lomiko represents a company with a goal: a people-oriented company, we can showcase the rich world of renewable energy through key minerals in Canada and Quebec, and provide solutions for North America. Our goal is to create a new energy future in Canada, where we will develop a critical mineral workforce, become an important partner and neighbor of the communities in which we operate, and provide a safe and responsible supply of critical minerals.
The company holds a 100% interest in its La Loutre graphite development project in southern Quebec. The La Loutre project site is located in the aboriginal territory of Kitigan Zibi Anishinabeg (KZA). KZA First Nations is part of Algonquin Nation, KZA territory is located in Outaouais and Laurentides area. The property is located 180 kilometers northwest of Montreal and consists of a large contiguous block with 42 mineral requirements and a total area of 2,509 hectares (25.1 kilometers) 2). Lomiko Metals issued a preliminary economic assessment ("PEA") on September 10, 2021, indicating that the mine life of the project is 15 years. This report was prepared as a National Instrument 43-101 technical report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services and Metpro Management Inc. as the report authors. The Bourier project site is located near Nemaska Lithium and Critical Elements in the southeastern part of the Eeyou Istchee James Bay area of Quebec. The area is composed of 203 claims and has a total ground location of 10,252.20 hectares (102.52 square kilometers). It is located in the Lithium Triangle near James Bay, Quebec Bay, Canada. The area has historically had lithium deposits and mineralization trends.
Mr. Mike Petrina, project manager, qualified personnel under National Instruments 43-101-Mineral Project Disclosure Standards, has reviewed and approved the technical disclosures in this press release.
For more information about Lomiko Metals, please check the website www.lomiko.com, contact Belinda Labatte at 647-402-8379 or send an email to: info@lomiko.com.
Note on forward-looking information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, which is based on expectations, estimates, forecasts and interpretations as of the date of this press release. Information about the company in this press release; any other information here that is not historical fact may be "forward-looking information" ("FLI"). Except for statements of historical facts, all statements are FLI and can be identified by using statements containing words such as "expected", "planned", "continued", "estimated", "anticipated", "may", etc., "will" , "Project", "forecast", "proposal", "potential", "target", "implementation", "plan", "plan", "may", "may", "should", "believe" "and Similar words or expressions. The FLI in this new version includes but is not limited to: the company’s goal of becoming a responsible key mineral supplier, the company’s project exploration, including the expected exploration cost and the time to achieve certain milestones, including the completion of the exploration plan The company’s ability to successfully provide funds or maintain sufficient funds to implement its business strategy and explore any of its projects (including from the capital market); any expected impact of COVID-19 on the company’s business goals or projects, the company’s financial status or operations, As well as the expected announcement time in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause significant differences in actual results or performance. This FLI reflects the company’s current views on future events, although the company currently considers reasonable , But are essentially affected by major uncertainties and emergencies. Therefore, it is impossible to be sure that they will accurately reflect actual results. The assumptions based on such FLI include, but are not limited to: the current market of key minerals; current technology trends; The business relationship between the company and its business partners; the ability to implement its business strategy and provide funding, exploration, advancement and development for each of its projects, including the resulting results and timing; the ability to operate in a safe and effective manner ; Uncertainty related to the acceptance and maintenance of exploration, environmental and other permits or approvals in Quebec; any unforeseen impact of COVID-19; the impact of increased competition in the mineral exploration business, including the company’s competitive position in the industry; the general economy Conditions, including conditions related to currency controls and interest rate fluctuations.
The FLI contained in this press release fully complies with this warning statement, which is the "forward-looking statement" part of the company's latest management discussion and analysis (MD&A), which is available on the SEDAR website www.sedar. com, and the investor introduction on its website. All FLIs in this press release were produced on the date of this press release. There is no guarantee that such statements will prove to be accurate, as actual results and future events may differ materially from the expectations in such statements. Therefore, readers should not rely too much on forward-looking information. Unless required by applicable securities laws, the company does not undertake to update or modify any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances.
Neither TSX Venture Exchange nor its regulatory service providers (as the term is defined in the policies of TSX Venture Exchange) assumes responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
On behalf of the board of directors,
Chief Executive Officer and Director of Lomiko Metals Inc.
View the source version on businesswire.com: https://www.businesswire.com/news/home/20211129005794/en/
Belinda Rabat 647-402-8379 info@lomiko.com
News from Business Wire through QuoteMedia
The company became the only and third largest non-Chinese graphite producer in North America
Join our Zoom conference call at 4pm to listen to CEO Greg Bowes answering questions about the transaction. Click here to register
Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) ("Company" or "Northern") announces that it has signed a binding sale and purchase agreement to acquire 100% ownership of the production of Lac des Iles graphite mine ("LDI")) Approximately US$40 million in Quebec from the Imerys Group's subsidiaries (collectively referred to as "Imerys") and Imerys and its joint venture partners ("Transaction") at the Okorusu processing plant in the Okanjande graphite deposit in Namibia ("Transaction"). The completion of the transaction is subject to a number of conditions, including the approval of the TSX Risk Exchange ("TSX-V"). According to TSX-V policy, the transaction is considered a "basic acquisition", and therefore, trading of the company's stock has been suspended until TSX-V conducts a satisfactory review of the transaction or the transaction is completed, whichever is earlier.
Northern intends to raise $55 million in financing to complete the transaction, which includes payment of the purchase price, capital improvement, reclamation bonds, working capital and transaction fees. The company has signed a USD 40 million debt/royalty/flow financing terms list with Sprott Resource Streaming and Royal Corp., and signed a power of attorney with Sprott Capital Partners LP to act as the lead agent The largest U.S. equity issuance is 15 million U.S. dollars. The Sprott Group intends to participate in the equity offering with an investment of USD 3 million, and Imerys will obtain USD 3 million in equity on the same terms as the offering as part of the purchase price. Imerys also provides other support for transactions. More detailed information on financing is provided below.
CEO Gregory Bowes commented: "This is a truly transformative transaction that will elevate Northern from one of more than 20 junior graphite companies seeking project financing to the only North American and third largest in the world. 1 Non-Chinese graphite Production company. In addition, Northern will have two large-scale development projects in stable jurisdictions, which will enable the company to significantly expand production to meet the growing demand in the electric vehicle/battery market. He added: “After the transaction is completed , Northern intends to actively expand its value through acquisitions and investments to increase the electric vehicle/battery, graphene and industrial markets. "
Click here to watch CEO Greg Bowes' comment on the transaction
Pursuant to the terms of the sale and purchase agreement ("Agreement") of the transaction, Northern will acquire all the assets of the LDI business and all the issued shares of Imerys Geckco Holdings (Namibia) (Pty) Ltd. ("JVCo"), with no cash and no debts Based on. The purchase price is about 40 million U.S. dollars, and Northern will assume the repair obligation for the final closure of LDI, which is estimated to be 6.6 million U.S. dollars.
Among other things, the agreement stipulates customary representations, warranties, prerequisites, and termination rights. The completion time of the transaction is on or around January 15, 2022, and is subject to customary closing conditions, including completion of related acquisition financing and obtaining regulatory and other approvals, including TSX-V approval and approval for the acquisition of joint ventures, Namibia Competition Commission Approval. Since the terms of the transaction have been negotiated arm's length and it is not expected that a new controller will be established based on the transaction or related financing, it is not expected that shareholder approval will be required. The agreement stipulates that the external date for completion of the transaction is five months, which can be extended by mutual agreement.
Lac des Iles has been in operation for more than 20 years and is the only important graphite producer in North America. In the next three years, up to 15,000 tons of graphite concentrate will be produced each year, and the company believes there is an opportunity to expand and expand production. Through LDI, the company has also gained established market share and customer base, and can transition from Namibia and Bissett Creek to supply. The company intends to submit a technical report on LDI in accordance with National Instrument 43-101 within 45 days from the date of the issuance of this agreement.
Namibia's operations include the Okanjande graphite deposit and the processing facility at the vacant Okorusu fluorite mine 78 kilometers away, which Imerys has modified to process graphite bearing materials. The joint venture started mining operations in Okanjande in 2017, and the materials were trucked to Okorusu for processing. The processing plant did not meet expectations and was maintained and maintained in November 2018.
Northern has developed a plan to revamp the Okorusu processing plant to increase production and recovery rates and improve flake size distribution. The plan will cost about 7 million U.S. dollars, and it will take up to 9 months to implement and resume production at a rate of about 30,000 tons/year. Namibia is one of the best operating jurisdictions in Africa. Okanjand graphite is of the highest quality. The operation can use the grid. It is five hours away from the good roads of the Walvis Bay deep-water port and can visit Europe at any time. And the North American market. These features, combined with a shorter time to market, provide a competitive advantage over other graphite projects in Africa. Northern's final plan is to build a large-scale processing plant near the Okanjande deposit, producing 100-150,000 tons of graphite concentrate annually to meet the rapidly growing demand for electric vehicles and batteries.
The Okanjande/Okorusu operation is based on weathered, measured and indicated 6.1 million tons ("Mt") resources, with a graphite carbon grade of 4.7%. Outside the main deposit, there is an inferred weathered resource of 1.2Mt, grade 3.9%, and some "weathered" exploration targets. The weathered resources are covered on fresh rocks. The measured and indicated resources are 28.8Mt, with a grade of 5.3% (including 1.5Mt of graphite), and the inferred resources of new rock are 24.3Mt, with a grade of 4.5% (including 1.1Mt of graphite). All resources are calculated at a cut-off grade of 3% and have not been sealed by drilling.
Although Okanjande resources have been reviewed by independent qualified persons as part of the company’s due diligence, the company considers them to be historical in nature because independent qualified persons have not done enough work to fully verify them and should not be relied upon. Northern intends to follow National Instrument 43-101 shall submit a technical report on Okanjande within 45 days after this date.
Northern's Bissett Creek project is an advanced stage project with a complete feasibility study. It is located between North Bay and Ottawa in southern Canada, close to the Trans-Canada highway, providing convenient labor, supply, equipment, natural gas and markets. An independent study estimates that Bissett Creek will have the highest profit of any existing or proposed graphite deposit because it has the highest quality concentrate, very advantageous location and simple metallurgy. The measured and indicated resources include 1.74 million tons of graphite (of which nearly 600,000 tons are proved and estimated reserves), and the inferred resource also contains 400,000 tons of graphite. The company plans to start production at a rate of 25,000 tons/year, and expand production to 80-100,000 tons/year as the electric vehicle/battery market grows (based on measured and indicated resources only).
The completion and execution of Northern's business plan will require approximately US$55 million in financing to cover the purchase price and expenses of the transaction, capital expenditures related to the resumption of business in Namibia, reclamation bonds and working capital. The transaction will be funded through a combination of debt, the sale of royalties and the flow of acquired assets, and other support from Imerys. Northern has signed a US$40 million financing term list with Sprott, which includes a US$15 million senior secured bond, a US$5 million LDI royalties and a US$20 million project flow financing in Namibia, as follows:
Bonds: Northern senior guaranteed bonds, with a principal of 15 million US dollars, a discount of 2%, and maturity within 48 months from the date of issuance. The bond’s interest is 9% plus the 3-month London Interbank Offered Rate or 1%, whichever is the greater. The interest will be paid semiannually and compounded, unless Northern chooses to capitalize the interest payable in the first 12 months. Bonds added to the principal. The bond will be the company's senior secured debt secured by LDI assets and the Namibia project. As part of the consideration for the signing of the bond, the company will issue Sprott warrants to purchase 6 million Northern common shares at an exercise price equivalent to a 35% premium to the equity financing stock price for a period of two years as described below.
Franchise financing: US$5 million was used to purchase 9% royalties of LDI graphite concentrate sales revenue. The royalties will be secured by the ownership of the project, and Sprott will be granted the right of first refusal to purchase any proposed river, royalties or similar transactions for the company's Bissett Creek project. As part of the consideration for the signing of royalties, the company will issue Sprott warrants to purchase 1.5 million Northern common shares at an exercise price equivalent to a 35% premium to the equity financing price described below for a period of two years.
Flow financing: A prepayment of US$20 million for the 11.25% of the graphite produced in the Namibia project until the production and delivery of 350,000 tons of graphite in the concentrate, at which time the flow will be converted into royalties for the remaining life of the 1% Okanjande deposit. The stream will be secured by the same security package as the bond, and Sprott will be granted the right of first refusal for any proposed grant stream, royalties or similar transactions of Okanjande deposits. As part of the consideration for entering the process, the company will issue Sprott warrants to purchase 4.5 million Northern common stocks at an exercise price equivalent to a 35% premium to the equity financing stock price, as described below, for a period of two years. If any consent or approval is required, the company will have the option to reduce the traffic percentage by up to 50% after paying USD 15.25 million in 2024 or USD 17.5 million in 2025. This option can be calculated in full or in part on a proportional basis.
These financings will be completed at the end of the transaction, subject to due diligence, final documents and other customary closing conditions, including TSX-V approval.
The company plans to conduct a brokerage private placement of subscription receipts, raising funds up to 15 million U.S. dollars. The Sprott Group intends to participate in the offering with a total investment of USD 3 million, and Imerys will receive USD 3 million in equity on the same terms as the offering, which will be paid as part of the purchase price. The pricing and other terms of the private placement will be determined based on market conditions. It is expected that the proceeds will be deposited in escrow and released at the end of the transaction.
NINE58 Advisors is an equitable investment advisory company headquartered in London, England, and shall pay a discovery fee of 1.5% of the acquisition cost to NINE58 Advisors for this transaction.
Northern Graphite is a Canadian company listed on the Growth Enterprise Market of the Toronto Stock Exchange. Lithium-ion battery cells, fuel cells and graphene, as well as advanced industrial technology.
Imerys is a global leader in professional solutions for industrial minerals, with revenues of 3.8 billion euros in 2020 and 16,400 employees, providing high value-added functional solutions for diversified industrial sectors from processing industries to consumer products. The group uses its application knowledge, technical expertise and material science knowledge to provide solutions based on its mineral resources, synthetic minerals and formulations. These provide important characteristics for customers' products and performance, including refractoriness, hardness, conductivity, opacity, durability, purity, brightness, filterability, absorption and repellency. Imerys is determined to develop responsibly, especially by promoting the emergence of environmentally friendly products and processes.
Gregory Bowes, MBA, P. Geo. is a qualified person as defined by National Instrument 43-101, who has reviewed and is responsible for the technical information in this press release.
Please visit the company's website http://www.northerngraphite.com/investors/presentation/. For the company's profile on www.sedar.com, please contact CEO Gregory Bowes (613) 241-9959 or visit our social channels.
This press release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and information usually feature certain events or words such as "plan", "anticipate", "project", "intend", "believe", "anticipate", "estimate", "potential", and "may" Similar words or statements where the conditions "may", "will", "may" or "should" occur. The forward-looking statements in this press release include statements regarding the following; economic and technical research, graphite prices, project economics, licensing, development timelines, and the graphite market. All such forward-looking statements are based on management's assumptions and analysis based on their experience and views on historical trends, current conditions and expected future development, as well as other factors that they believe are appropriate in this situation. However, these statements are subject to various risks and uncertainties and other factors that may cause actual events or results to differ materially from expectations, including but not limited to unexpected changes in laws, rules or regulations, or their applicable enforcement authorities ; Other parties’ failure to perform as agreed; social or labor disturbances; changes in commodity prices; Operations. Readers are cautioned not to rely too much on forward-looking information or statements.
Although the forward-looking statements contained in this press release are based on reasonable assumptions deemed reasonable by management, the company cannot assure investors that actual results will be consistent with them. These forward-looking statements were made on the date of this press release and fully comply with the requirements of this warning statement. In accordance with applicable securities laws, the company assumes no obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances that occur after the date of this press release.
Neither TSX Venture Exchange nor its regulatory service provider (as the term is defined in the policies of TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106352
Newsfile News provided by QuoteMedia
IIROC has stopped the following issues:
Reason: Message to be sent at the request of our company
IIROC may decide to temporarily suspend (stop) trading in the securities of publicly listed companies. Implement trading suspension measures to ensure that the market is fair and orderly. IIROC is a national self-regulatory organization responsible for overseeing the trading activities of all investment dealers and debt and stock markets in Canada.
Source: Investment Industry Regulatory Organization of Canada (IIROC)-Suspended/Resume
View the original content: http://www.newswire.ca/en/releases/archive/December2021/02/c0411.html
News from the Canadian News Line through QuoteMedia
South Star Battery Metals Corp. ("South Star" or "Company") (TSXV: STS) (OTCQB: STSBF) is pleased to announce that the parties have agreed to extend the exclusivity, due diligence and final agreement period to December 10, 2021 . The negotiations are progressing smoothly, and all parties look forward to making more announcements as appropriate in the near future. As previously announced (see press release on November 3, 2021), the company has signed an agreement with Hexagon Energy Materials Co., Ltd. ("Hexagon") on the Alabama Ceylon Graphite Project ("Project") A binding income and option agreement (agreement) (ASX: HXG) and US Critical Minerals LLC ("USCM"), a privately held exploration company incorporated in the United States. According to the terms of the agreement, Southern Star will be entitled to earn up to 75% of the project. The transaction is subject to the final approval of the Toronto Stock Exchange's Growth Enterprise Market ("TSXV").
About Nam Sung Battery Metal Company
South Star Battery Metals Corp. is a Canadian battery metal project developer focusing on the selective acquisition and development of recent production projects in the Americas. The Southern Star Santa Cruz Graphite Project in the southern state of Bahia, Brazil is the first in a series of industrial and battery metal projects to be put into operation. Brazil is the second largest graphite producing area in the world and has been mined continuously for more than 80 years. Santa Cruz has surface mineralization of fragile materials and has successfully completed large-scale pilot trials (> 30 tons). The test results show that about 65% of the Cg concentrate is +80 mesh, the recovery rate is good, and the Cg is 95-99%. With excellent infrastructure and logistics, Nanxing is advancing its development plan, and is expected to achieve the first stage of production in the fourth quarter of 2022, awaiting financing. South Star's transaction code on TSX Venture Exchange is STS, and on OTCQB, the transaction code is STSBF.
South Star is committed to establishing a corporate culture, project execution plan and safe operation, which all contain the highest standards based on ESG principles of transparency, stakeholder participation, continuous education and management. For more information, please visit the company's website http://www.southstarbatterymetals.com.
This press release has been reviewed and approved by "Qualified Persons" as required by National Instruments 43-101 and Richard Pearce, President and CEO of South Star Battery Metals.
On behalf of the board of directors,
Mr. Richard Pearce Chief Executive Officer
For more information, please contact:
CHF Capital Markets (IR Canada) Cathy Hume, CEO Tel: +1 416-868-1079 x251 Email: Cathy@chfir.com
RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com
Mr. Dave McMillan Chairman's mailbox: davemc@telus.net
Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals-YouTube
Neither TSX Venture Exchange nor its regulatory service providers (as the term is defined in the policies of TSX Venture Exchange) assumes responsibility for the adequacy or accuracy of this press release.
This press release and the updated technical report contain references to inferred resources. The report is preliminary in nature and includes inferred mineral resources that are considered geologically too speculative to be economically considered so that they can be classified as mineral reserves.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information based on management assumptions, forecasts of future results, and undetermined amount estimates. Any statement that expresses forecasts, expectations, beliefs, plans, forecasts, goals, assumptions, or future events or performance is not a statement of historical facts, and may be a "forward-looking statement."
Forward-looking statements are subject to various risks and uncertainties, which may cause actual events or results to be different from those reflected in forward-looking statements, including but not limited to: risks associated with failure to obtain sufficient financing in a timely manner and under acceptable conditions Under; risks related to the outcome of legal proceedings; political and regulatory risks related to mining and exploration; risks related to maintaining stock exchange listings; risks related to environmental supervision and liability; exploration or development activities or completion of feasibility studies Possibility; uncertainty in profitability; risks and uncertainties related to the interpretation of drilling results, geology, grade and continuity of the deposit; inherent uncertainties in production and cost estimates, and the possibility of unexpected costs and expenses Related risks; the results of pre-feasibility studies and feasibility studies, and the possibility that future exploration, development or mining results are inconsistent with the company’s expectations; risks related to commodity price fluctuations; and related to the company’s prospects, property and business For other risks and uncertainties, please refer to other places in the company's disclosure records. If one or more of these risks and uncertainties become reality, or the basic assumptions prove to be incorrect, actual results may differ materially from the results described in the forward-looking statements. Investors are cautioned not to attribute excessive certainty to forward-looking statements. These forward-looking statements were made on the date of this article, and the company does not undertake any obligation to update or modify them to reflect new events or circumstances. Actual events or results may differ materially from the company's expectations or forecasts.
View original content and download multimedia: https://www.prnewswire.com/news-releases/south-star-battery-metals-announces-extension-of-the-earn-in-and-option-agreement-for-graphite- project-in-coosa-county-alabama-301436346.html
Source: South Star Battery Metals Corp.
View original content and download multimedia: http://www.newswire.ca/en/releases/archive/December2021/02/c2293.html
News from the Canadian News Line through QuoteMedia
South Star Battery Metals Corp. ("South Star" or "Company") (TSXV: STS) (OTCQB: STBSF) and its technology partners in the United States ("American Lab"1) are pleased to announce the use of Santa Cruz The CR2016 LiB button battery constructed from the anode material (coated spherical purified graphite "SPG") produced by the Sgraphite Project has achieved successful final life cycle test results in more than 100 cycles (charge and discharge). In a separate test effort, a highly conductive dispersion was also tested that exceeded current industry standards for conductive coating applications in the energy storage and advanced purity dry film lubrication markets.
South Star's cycle test procedure has been completed, and the number of cycles of the lithium battery has exceeded 100 times. One cycle includes 10 hours of charging and 10 hours of discharging, so 100 cycles are approximately equal to 2,000 hours. The test shows that the result is very stable, degrading by about 2.2% in more than 100 cycles, while always maintaining a reversible capacity of 342-345 mAh/g. If these results are predicted, approximately 900 cycles can be achieved before the industry standard cut-off value of 20% is reached. These results are usually competitive with synthetic graphite, indicating that Santa Cruz’s battery anode materials are high-quality materials suitable for various lithium battery applications including the electric vehicle market. The work to be carried out includes sample preparation of various downstream products so that the verification process can begin with process optimization and performance verification. (For the results of the first 75 cycles, please refer to the September 22, 2021 press release).
In addition, Southern Star has successfully completed the production and testing of high-purity graphite and high-quality conductive dispersions for various applications including the alkaline battery market. The Santa Cruz material used was harvested from purified graphite waste during the spheroidization process, and it was confirmed that the purified flake graphite from the Santa Cruz project has significantly higher electrical conductivity than the industry-leading materials currently used. As the alkaline battery market produces more than 12 billion batteries per year, and the global market value exceeds US$7.5B in 2020, this application may develop into a major market for South Star.
Richard Pearce, President and CEO of South Star, commented: “We will continue to announce excellent value-added test results that demonstrate the high-quality properties of the deposit, and will be put into production in 2022.” “Using the concentrate produced by Santa Cruz The final cycle test performed on the anode material produced excellent performance similar to synthetic graphite, suitable for a wide range of battery applications. In addition, the development of this high-quality conductive dispersion and coating opens up additional value-adding to our premium graphite Our materials are much better than the leading commercial synthetic graphite products. Every alkaline battery produced requires graphite. Due to the quality of our concentrates, this is a huge new potential market. High-quality coatings for alkaline batteries The current price of cans is as high as $30,000 per ton. These are outstanding results of our plan and continue to prove that Santa Cruz can provide a wide range of high-quality products and bring real value to a diverse industry and customer base through natural flake graphite . We have a bright future before us."
The Santa Cruz Product Information Bulletin (PIB) containing product portfolio technical information, safety data sheets (SDS) and marketing materials has been prepared and distributed to our existing partners and potential customers. 100-200g samples of various value-added products are being produced, including micronized and purified graphite, expanded and expandable graphite, dispersions, and coated and uncoated SPG, and will be used for qualification testing.
1 The US Lab ("US Lab") specializes in value-added testing of advanced graphite materials and battery and non-battery applications. The US Lab company name has not yet been announced, and its purpose is to maintain South Star Battery Metals' commercial advantage in the market.
Lithium-ion battery life cycle test results
An advanced pilot scale mechanical grinding system equipped with two air classification loops was used to successfully micronize purified graphite. Once the target size geometry is reached, uncoated SPG can be produced by rolling and rounding the micronized graphite into an oval ball in a special rolling mill. The oval shape is the preferred form of higher bulk density active load in battery electrodes. They are also preferred due to their better rate capacity, safer and generally longer life lithium-ion batteries. The uncoated SPG is coated with a soft carbon nano layer and heat-treated under an inert gas layer. During the normal expansion and contraction cycles associated with charging and discharging, the hardened coating provides a layer of protection against flaking and general degradation. The coating also reduces the continuous reaction of the electrolyte with graphitic carbon, which can result in a shortened battery life (for more details, please refer to the press release dated June 29, 2021).
Next, the copper foil is coated with the anode slurry using a calendering technique, and the electrode is dried under vacuum and weighed. Finally, the anode is welded to the bottom can of the stainless steel standard CR2016 button cell. Three identical button batteries were produced, and the tests included the following: reversible capacity, irreversible capacity, irreversible capacity loss, and long-term cycle stability as a function of the number of charge/discharge cycles.
As shown in Figure 1, the other significant positive feature of Santa Cruz anode materials is that their reversible capacity is about 342-345 mAh/g after 100 cycles, or 2.2% degradation. Assuming the current degradation rate remains the same, Santa Cruz graphite may exceed 900 cycles before the performance cut-off, and provide a viable alternative to synthetic graphite for the EV industry, which has a higher cost and a higher environment Footprint, and is derived from petroleum.
Figure 2 shows the results of battery 3 passing 25, 50, 75, 100 and 115 cycles, and confirms that the battery maintains excellent electrochemical performance throughout the current test process, thus confirming the characteristics of Santa Cruz natural crystal flakes as lithium Robustness of negative electrode material-ion battery.
Figure 2: Cell 3 cycle 25, 50, 75, 100 and 115 test results
The purpose of this test phase is to use purified Santa Cruz flake graphite to formulate high-performance, high-purity graphite-based conductive coating products for the alkaline energy storage market. Conductive coatings need to have high conductivity, thermal and chemical stability, ultra-high purity (99.9+ wt% C) and highly crystalline flake structure in the presence of a corrosive electrolyte (37 wt% KOH).
In the previous test work, Southern Star successfully produced pure spherical graphite with a yield of about 74% (see the press release on June 29, 2021). The remaining 26% of the SPG process by-products maintain their ultra-high purity level (99.9993%) and are homogenized into a composite powder mixture. The average particle size measured by laser diffraction is 13.81 microns, and the particle size ranges from 0.972 to 104.6 microns. This material is then added to a mixing tank equipped with dispersing blades. Water and surfactant are added to decompose the agglomerates to further reduce the average particle size to 9.36 microns.
The US Lab's proprietary wet mill is used to further reduce the particle size, combined with a special media, which can continuously reduce the size without cross-contamination of the final product and the media components. The purity of the final dispersion is 99.98+wt.%C, the average value is 4.0 microns, D10 = 1.018 microns, D50 = 3.55 microns and D90 = 8.01 microns. The complete particle size distribution measured by laser diffraction is shown in Figure 3.
Figure 3. Particle size distribution of wet milled Santa Cruz graphite (laser diffraction of Microtrac S3500), with a purity of 99.98+wt.%C.
The fine particle dispersion is mixed with polyacrylate copolymers that are resistant to alkaline battery chemistry to produce alkaline battery can coatings that meet current industry standards. Additional water-based and solvent-based polymer binders can be used in future formulations to meet various coating specifications used in lithium primary batteries, lithium ion batteries, fuel cells, and supercapacitors. The final wet quality control specification for South Star alkaline can coatings has the following characteristics:
Brookfield #3 spindle, 20 rpm, 25 o C
115 o C for 30 minutes (vacuum oven)
A thin coating of the final dispersion is applied to the glass substrate and allowed to dry. The key characteristic of these dried coatings is the resistivity (in ohm inches) measured on the glass substrate with a 2T probe (using a Fluke ohmmeter), with a distance of 1 inch between the probes. The measured resistivity of the South Star graphite dispersion is 20 ohm inches, which is significantly lower than the current industry standard
About Nam Sung Battery Metal Company
South Star Battery Metals Corp. is a Canadian battery metal project developer focusing on the selective acquisition and development of recent production projects in the Americas. The Southern Star Santa Cruz Graphite Project in the southern state of Bahia, Brazil is the first in a series of industrial and battery metal projects to be put into operation. Brazil is the second largest graphite producing area in the world and has been mined continuously for more than 80 years. Santa Cruz has surface mineralization of fragile materials and has successfully completed large-scale pilot trials (> 30 tons). The test results show that about 65% of the Cg concentrate is +80 mesh, the recovery rate is good, and the Cg is 95-99%. With excellent infrastructure and logistics, Nanxing is advancing its development plan, and is expected to achieve the first stage of production in the fourth quarter of 2022, awaiting financing. South Star's transaction code on TSX Venture Exchange is STS, and on OTCQB, the transaction code is STSBF.
South Star is committed to establishing a corporate culture, project execution plan and safe operation, which all contain the highest standards based on ESG principles of transparency, stakeholder participation, continuous education and management. For more information, please visit the company's website http://www.southstarbatterymetals.com.
This press release has been reviewed and approved by "Qualified Persons" as required by National Instruments 43-101 and Richard Pearce, President and CEO of South Star Battery Metals.
On behalf of the board of directors,
Mr. Richard Pearce Chief Executive Officer
Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: Southern Star Battery Metal-YouTube
Neither TSX Venture Exchange nor its regulatory service providers (as the term is defined in the policies of TSX Venture Exchange) assumes responsibility for the adequacy or accuracy of this press release.
This press release and the updated technical report contain references to inferred resources. The report is preliminary in nature and includes inferred mineral resources that are considered geologically too speculative to be economically considered so that they can be classified as mineral reserves.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information based on management assumptions, forecasts of future results, and undetermined amount estimates. Any statement that expresses forecasts, expectations, beliefs, plans, forecasts, goals, assumptions, or future events or performance is not a statement of historical facts, and may be a "forward-looking statement."
Forward-looking statements are subject to various risks and uncertainties, which may cause actual events or results to be different from those reflected in forward-looking statements, including but not limited to: risks associated with failure to obtain sufficient financing in a timely manner and under acceptable conditions Under; risks related to the outcome of legal proceedings; political and regulatory risks related to mining and exploration; risks related to maintaining stock exchange listings; risks related to environmental supervision and liability; exploration or development activities or completion of feasibility studies Possibility; uncertainty in profitability; risks and uncertainties related to the interpretation of drilling results, geology, grade and continuity of the deposit; inherent uncertainties in production and cost estimates, and the possibility of unexpected costs and expenses Related risks; the results of pre-feasibility studies and feasibility studies, and the possibility that future exploration, development or mining results are inconsistent with the company’s expectations; risks related to commodity price fluctuations; and related to the company’s prospects, property and business For other risks and uncertainties, please refer to other places in the company's disclosure records. If one or more of these risks and uncertainties become reality, or the basic assumptions prove to be incorrect, actual results may differ materially from the results described in the forward-looking statements. Investors are cautioned not to attribute excessive certainty to forward-looking statements. These forward-looking statements were made on the date of this article, and the company does not undertake any obligation to update or modify them to reflect new events or circumstances. Actual events or results may differ materially from the company's expectations or forecasts.
View original content and download multimedia: https://www.prnewswire.com/news-releases/south-star-battery-metals-announces-successful-lib-results-from-completed-cycle-testing-and-premium-dispersion- Product-Alkaline Battery Market-Better than Leading Synthetic Graphite-301431458.html
Source: South Star Battery Metals Corp.
View original content and download multimedia: http://www.newswire.ca/en/releases/archive/November2021/24/c9766.html
News from the Canadian News Line through QuoteMedia
NextSource Materials Inc. (TSX: NEXT) (OTC: NSRCF) ("NextSource" or "Company") announced that it has awarded an independent power producer CrossBoundary Energy ("CBE") a power supply contract, Used for long-term supply of solar and thermal power generation to power the operation of its Molo graphite mine in Madagascar. The contract lasts for 20 years and aims to expand according to the output of the Molo mine. The power transmission of the mine will increase simultaneously with all future expansion requirements.
A subsidiary of CBE in Madagascar is developing the project and will build, own and operate the Molo hybrid power plant ("hybrid power plant"), NextSource will not have to pay capital costs. It will be located near the Molo mine and is expected to be operational at the same time that the Molo mine is expected to start production in the second quarter of 2022. Through this contract, NextSource will initially be able to purchase up to one-third of the total electricity demand of the Molo Mine from renewable solar energy. NextSource and CBE are committed to optimizing solar modules throughout the contract to increase the proportion of renewable energy to the majority.
The renewable energy services provided by CBE will be exclusively provided to NextSource and provide guaranteed energy cost savings. As simulated in the company's 2019 Molo feasibility study, this rate will reduce the expected energy cost per kWh, and the expected cost per kWh rate based solely on firepower.
The hybrid plant will greatly assist NextSource in complying with its environmental, social and governance principles. It will also deploy renewable energy infrastructure to reduce emissions and strive to achieve the goal of a carbon-neutral energy system, thereby realizing the company's broader initiatives to reduce its environmental footprint.
Craig Scherba, President and CEO of NextSource, said: “We are very pleased to choose CrossBoundary Energy to provide hybrid power for our Molo graphite mine, which fulfills our commitment to reducing emissions and achieving more sustainable operations.” “Deploying clean, renewable and Sustainable energy to reduce emissions is the cornerstone of our operational strategy and will reduce our expected energy costs during the project life cycle."
The hybrid power plant will include a 2.5MW solar photovoltaic energy system (solar power plant), a 1MWh battery energy storage system (BESS) and a 3.3MW thermal energy system (diesel generator), which will provide all power requirements and processing for the Molo mine factory. The thermal energy system will be used in conjunction with solar power plants and BESS to provide uninterrupted power supply and ensure that 100% of the mine’s power is available.
CrossBoundary Energy Mining Director Matthew Fredericks said: “We worked closely with the NextSource Materials team to design a customized solar hybrid solution for the Molo graphite facility. The power system will reduce the mine’s total power cost, reduce its overall investment and maintenance costs, and maximize Minimize carbon emissions. CBE is honored to receive its second project opportunity in Madagascar and is honored that NextSource Materials has chosen our flexible and collaborative approach to provide sustainable energy solutions for African mines."
CrossBoundary Energy is Africa's leading corporate clean power supplier. CBE has a proven track record in providing complex commercial and industrial power solutions to companies such as Unilever, Diageo, Heineken, and Allied Alliance throughout Africa. Earlier this year, the company announced two other hybrid renewable energy projects, the first for Rio Tinto’s QMM ilmenite business in Madagascar, and the second for Eramet’s ore mine in Senegal, Grande Cote Operations ( GCO). In total, CBE is now providing 40 MW of solar and wind power generation and 20 MWh of battery energy storage capacity for African mines.
NextSource Materials Inc. is a strategic materials development company headquartered in Toronto, Canada, aiming to become a fully integrated global supplier to provide the key batteries and technical materials needed to power the sustainable energy revolution.
The company's Molo graphite project in Madagascar is one of the largest and highest-quality graphite deposits known in the world and the only deposit with SuperFlake® graphite. The construction of the first phase of the Molo project is underway and is expected to be put into operation in the second quarter of 2022.
The stock symbol of NextSource Materials on the Toronto Stock Exchange (TSX) is "NEXT" and the stock symbol of OTCQB is "NSRCF".
For more information about NextSource, please visit our website www.nextsourcematerials.com or contact us at +1.416.364.4911 or send an email to brent@nextsourcematerials.com or send an email to Executive Vice President Brent Nykoliation or send an email to craig@nextsourcematerials.com Send an email to Craig Scherba, President and CEO.
CrossBoundary Energy was launched by CrossBoundary Group in 2015 and is the first fully-financed commercial-industrial solar energy solution provider in sub-Saharan Africa.
It currently operates in more than 10 African countries and has a portfolio of more than $100 million in renewable energy infrastructure projects across the entire African continent. CBE's customers include leading local manufacturers and multinational companies such as Diageo, Eramet, Heineken, Rio Tinto and Unilever.
CrossBoundary Energy is funded by the African Renewable Energy Fund (ARCH ARPF) of ARCH Emerging Markets Partners.
Safe Harbor: The statements contained in this press release may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and U.S. securities legislation. Readers are cautioned not to rely too much on forward-looking information or statements. Forward-looking statements and information are usually characterized by words such as "plan", "anticipate", "project", "intend", "believe", "anticipate", "estimate", "potential", "may" and other words that characterize certain events or Words or statements where conditions "may", "will", "may" or "should" occur. Forward-looking statements include any statements regarding the success of the Molo graphite project and construction within budget, the inclusion of hybrid solar-thermal energy through an agreement with PPA, the estimation of the future output of the Molo graphite project, the completion of any technical research and the expansion of the Molo graphite project , Any and all other economic and technical research, graphite prices, project economics, permits, development schedules, and graphite markets. All such forward-looking statements are based on management's assumptions and analysis based on their experience and views on historical trends, current conditions and expected future development, as well as other factors that they believe are appropriate for the current situation. However, these statements are subject to various risks and uncertainties and other factors that may cause actual events or results to differ materially from expectations, including but not limited to unexpected changes in laws, rules or regulations, or their applicable enforcement authorities ; Other parties’ failure to perform as agreed; social or labor disturbances; changes in commodity prices; Operations. Although the forward-looking statements contained in this press release are based on what management believes to be reasonable assumptions, the company cannot assure investors that actual results will be consistent with them. These forward-looking statements were made on the date of this press release and fully comply with the requirements of this warning statement. In accordance with applicable securities laws, the company assumes no obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances that occur after the date of this press release.
News provided by ACCESSWIRE via QuoteMedia
Green Battery Minerals Inc. ("Green Battery" or "Company") (TSX code: GEM) (FSE: BK2P) (WKN: A2QENP) (OTC code: GBMIF) is pleased to announce that it has completed Previously announced non-brokerage private placements ("issuances"), as stated in its press releases on November 9, 2021, November 16, 2021, and November 23, 2021, according to which it has issued a total of 15,444,001 Circulation units (each, one "FL unit"), the price is 0.15 US dollars per FL unit, and the total revenue is 2,316,600 US dollars. Each FL unit will consist of one common share in the company’s capital, which is issued in circulation in accordance with the Income Tax Act (Canada) (per share, "FL shares") and purchased half of the share warrants (per share Complete warrants, "warrants"), each warrant entitles its holder to USD 0.20 per warrant share within 24 months of issuance
The company paid a cash finder fee of $140,928 and issued 613,332 brokerage warrants (each "broker warrant") and 326,186 common shares to certain discoverers in connection with the sale. ÂBroker warrants have the same terms and conditions as warrants.
The proceeds from this issuance are expected to be used for exploration expenses in Canada and will meet the circulation mining expenses as defined in Section 127(9) of the Income Tax Act (Canada). The expenses will be waived to subscribers no later than 2021. On the effective date on the 31st, the total amount provided to the initial purchaser of FL units shall not be less than the total proceeds raised by the issuance of outstanding shares (if applicable), and if the eligible expenses are reduced in accordance with the regulations of the Canada Revenue Agency, the company will Compensate each subscriber for any additional taxes paid by the company for failing to waive eligible expenditures as agreed. Â Net proceeds will be used for costs associated with continuing exploration/drilling programs and the PEA report of the Berkwood Graphite Project program.
The securities issued under the offer and the shares that may be issued when the warrants and broker's warrants are exercised are subject to the statutory holding period, which is four months and one day from the cut-off date.
Any securities to be issued in connection with this issuance will not or have been registered under the revised U.S. Securities Act of 1933 (the "1933 Act"), and no securities may be offered or sold in the U.S. or applicable to Exemptions from the registration requirements of the 1933 Act. This press release is issued in accordance with Section 135c of the 1933 Act and does not constitute an offer to sell or an invitation to buy an offer, nor shall any such offer, invitation or sale be illegal.
About the company: Green Battery Minerals is managed by a team with more than 150 years of collective experience. They not only discovered many mines, but also have a good record of building and operating these mines. The most recent success of the Green Battery Minerals management team was the discovery of the Berkwood graphite deposit in northern Quebec. Green Battery Minerals owns 100% of the asset. As the demand for graphite for electric vehicles increases significantly, the company’s shareholders will benefit from the asset.
Representative board
For more information, please contact:
Investor relations: or 1-604-343-7740
info@greenbatteryminerals.com www.greenbatteryminerals.com
Certain statements in this document that are not purely historical are forward-looking statements, including any statements regarding future beliefs, plans, expectations, or intentions. The forward-looking statements in this press release include that the company will execute the drilling plan described in this press release and use funds for the exploration of the Berkwood Graphite Project, and these expenditures will be treated as circulating mining expenditures. Â It is worth noting that the company’s actual business results and exploration results may differ materially from the results in such forward-looking statements and the tax treatment of outstanding shares. Risks and uncertainties include expenditures that may not be qualified mining expenditures, shares will not meet the conditions for circulation processing, the company does not generate sufficient expenditures for circulation credit in time, and further licenses may not be granted in time or fully granted; mineral claims may be granted. Prove that it is not worth further expenditure; there may be no economic mineral resources; we believe that effective methods may not be proven in practice or in our statement; economic, competition, government, environmental and technological factors may affect the company’s operations, market, Products and prices; our specific plans and schedules for time drilling, field work, etc. may change; due to cost factors, terrain types or the availability of equipment and technology, we may not be able to obtain or develop any minerals. Other risk factors are discussed in the section entitled "Risk Factors" in the management discussion and analysis of the company's recently completed accounting period, which can be found under the company's SEDAR profile on www.sedar.com. There can be no assurance that any events anticipated in the forward-looking statements will occur, or if they occur, the company will benefit from these events. ÂThese forward-looking statements reflect the current views of management and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. Except as required by law, we will not update the risk factors of these forward-looking statements.
Neither TSX Venture Exchange nor its regulatory service provider (the term is defined in the policies of TSX Venture Exchange) is not responsible for the adequacy or accuracy of this version.
Copyright (c) 2021 TheNewswire-All rights reserved.
News provided by TheNewsWire via QuoteMedia
[subscribe_company_profile use_post="101620472"]
Investment News website or approved third-party tools use cookies. For collected data, privacy and GDPR compliance, please refer to the cookie policy. By continuing to browse this website, you agree to our use of cookies.