Ottawa, Ontario--(Newsfile Corp. - August 16, 2023) - Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the "Company" or "Northern") announces that as a result of a review by staff of the Ontario Securities Commission (the "OSC"), it has filed an amended version of the technical report dated July 1, 2022 entitled "Okanjande Graphite Project Preliminary Economic Assessment Study Report" (the "Amended Technical Report") relating to the preliminary economic assessment ("PEA") for its Okanjande, Namibia graphite project and has amended certain parts of its investor materials and is issuing this news release to clarify certain disclosure by the Company with respect to future production targets.
The Amended Technical Report has not impacted the material components of the PEA, notably resources, metallurgy, mine plan, cost estimates, economic analysis and environmental matters. The Amended Technical Report dated July 28 2023 maintains an effective date of July 1, 2022 and can be found under the Company's profile on SEDAR at and on the Company's website. The original technical report dated July 1, 2022 has been amended solely to:
Remove confidentiality statements by the authors which purported to limit the use or publication of the report in a manner which interfered with the Company's obligation to reproduce the report by filing it on SEDAR;
Remove disclaimer statements by the authors which purported to disclaim responsibility by the qualified persons for the report for any information in the report;
Revise statements which used the term "ore" in the context of mineral resources only (while the Okanjande project was previously in production, the Company's PEA on the project is not sufficient to establish a mineral reserve and accordingly use of the term "ore" is not appropriate in the PEA or other corporate disclosure); and
Remove statements which provided aspirational production rates or targets unsupported by the report.
The Amended Technical Report addresses comments raised by the OSC in the course of its review.
In addition, in certain parts of its investor materials and other disclosures, the Company disclosed production rates or targets which are not yet supported by technical reports prepared in accordance with National Instrument 43-101 ("Technical Reports"). In particular, the Company has disclosed combined planned or forecast production of up to 300,000tpy from its Lac des Iles, including Mousseau West, Okanjande and Bissett Creek projects (with production rates of Lac des Iles, including Mousseau West - 25,000-50,000tpy; Okanjande - 100,000-150,000tpy; and Bissett Creek - 80,000-100,000tpy), while only current and planned capacity of up to 100,000tpy is supported by Technical Reports at the present time (with production rates of Lac des Iles - 25,000tpy with current production of 15,000tpy; Okanjande - 31,000 tpy; and Bissett Creek - 44,000tpy). The Company wishes to clarify that these planned or forecast production rates are "aspirational" rates or targets only since they are not supported by current Technical Reports. Accordingly, the Company retracts all statements in respect of such planned or forecast production rates.
The Company's Corporate Presentation, Fact Sheet and website have also been updated to remove these aspirational production rates or targets which are not yet supported by Technical Reports.
Based on the size of the resources identified at the Company's projects relative to the production levels currently envisioned, rapidly evolving graphite market dynamics and the Company's ongoing negotiations with partners for the contemplated construction of battery anode material processing facilities, the Company is currently undertaking or planning to undertake PEAs on its projects that will evaluate the potential to mine material at the Mousseau deposit and process it at Lac des Iles, expand the capacity at Okanjande and expand the capacity at Bissett Creek. The Company does not consider the amended technical report to be material to the Company.
"While Northern plans to expand production, targets need to be confirmed by these studies. Northern's projects have the resources and the technical potential to support its strategy to become an integrated, mine-to-market supplier to traditional customers and serve new demand stemming from the energy transition and widescale electrification," said Northern Chief Executive Officer Hugues Jacquemin.
About Northern Graphite
Northern is a Canadian, TSX Venture Exchange listed company that is focused on becoming a world leader in producing natural graphite and upgrading it into high value products critical to the green economy including anode material for lithium-ion batteries/EVs, fuel cells and graphene, as well as advanced industrial technologies.
Northern is the only significant graphite producing company in North America and will become the third largest producer outside of China when its Namibian operations come back online. The Company also has two large scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that will be a source of continued production growth in the future. All projects have "battery quality" graphite and are located close to infrastructure in politically stable jurisdictions.
For further information contact
Guillaume Jacq, CFO
Telephone: (613) 271-2124
Email: info@northerngraphite.com
Qualified Person
Gregory Bowes, B.Sc. MBA P.Geo, the Chairman of Northern, is a "qualified person" as defined under National Instrument 43-101 and has reviewed and approved the content of this news release.
For additional information
Please visit the Company's website at , the Company's profile on , our Social Channels listed below or contact the Company at (613) 271-2124.
安大略省渥太華--(Newsfile Corp. - 2023年8月16日)- Northern Graphite Corporation(多倫多證券交易所股票代碼:NGC)(場外櫃台交易市場股票代碼:NGPHF)(FSE:0NG)(XSTU: 0NG)(以下簡稱 "公司 "或 "Northern")宣佈,經安大略省證券委員會(以下簡稱 "安大略省證監會")工作人員審查,公司已提交了日期爲 2022 年 7 月 1 日的技術報告修訂版,該報告題爲 "Okanjande"、 2022年7月1日的技術報告修訂版,題爲 "Okanjande石墨項目初步經濟評估研究報告"("修訂版技術報告"),涉及納米比亞Okanjande石墨項目的初步經濟評估("PEA")。
修訂後的技術報告並未影響PEA的物質組成部分,尤其是資源、冶金、礦山規劃、成本估算、經濟分析和環境問題。2023年7月28日的經修訂的技術報告的生效日期爲2022年7月1日,可在SEDAR的公司簡介下找到,也可以在公司網站上找到。2022年7月1日的原始技術報告僅修改爲:
刪除作者的保密聲明,這些聲明旨在限制報告的使用或發佈,從而干擾了公司通過向SEDAR提交報告來複制報告的義務;
刪除作者的免責聲明,這些聲明聲稱不承認合格人員對報告中的任何信息承擔責任;
修改僅在礦產資源背景下使用 “礦石” 一詞的聲明(雖然Okanjande項目以前正在生產,但公司對該項目的PEA不足以建立礦產儲量,因此在PEA或其他公司披露中使用 “礦石” 一詞是不恰當的);以及
刪除報告未支持的提供理想產量或目標的陳述。
經修訂的技術報告回應了OSC在審查過程中提出的意見。
此外,在投資者材料和其他披露的某些部分中,公司披露的產量或目標尚未得到根據國家儀器43-101(“技術報告”)編寫的技術報告的支持。特別是,該公司披露了其Lac des Iles的合併計劃或預測產量高達30萬噸/年,包括Mousseau West、Okanjande和Bissett Creek項目(Lac des Iles,包括Mousseau West——25,000-50,000噸/年;Okanjande——10萬噸/年;Bissett Creek——8萬噸/年),而目前只有8萬-10萬噸/年)目前,技術報告支持高達10萬噸/年的計劃產能(Lac des Iles的產量爲25,000噸/年,目前的產量爲15,000噸/年;Okanjande——每年31,000噸;還有 Bissett Creek——44,000tpy)。公司希望澄清的是,這些計劃或預測的產量是 “理想的” 產量或目標,只是因爲它們沒有得到當前的技術報告的支持。因此,公司撤回了有關此類計劃或預測產量的所有聲明。
公司的公司介紹、情況說明書和網站也已更新,刪除了技術報告尚未支持的這些理想的生產率或目標。
根據公司項目中確定的資源規模相對於目前設想的產量水平、迅速變化的石墨市場動態以及公司正在與合作伙伴就計劃建造電池陽極材料加工設施進行談判,該公司目前正在或計劃對其項目進行PEA,評估在穆索礦牀開採材料並在Lac des Iles進行加工的可能性,擴大Okanjande的產能並擴大其產能 Bissett Creek 的容量。公司認爲修訂後的技術報告對公司來說並不重要。
“雖然北方計劃擴大產量,但目標需要通過這些研究得到確認。Northern的項目有足夠的資源和技術潛力來支持其戰略,即成爲傳統客戶的一體化礦山到市場的供應商,滿足能源轉型和大規模電氣化帶來的新需求。” Northern首席執行官休格斯·雅克明說。
關於Northern Graphite
Northern是一家加拿大多倫多證券交易所風險投資交易所上市公司,專注於成爲天然石墨生產領域的全球領導者,並將其升級爲對綠色經濟至關重要的高價值產品,包括鋰離子電池/電動汽車的陽極材料、燃料電池和石墨烯以及先進的工業技術。
Northern是北美唯一一家重要的石墨生產公司,當其納米比亞業務恢復運營後,它將成爲中國以外的第三大石墨生產商。該公司還有兩個大型開發項目,安大略省的Bissett Creek和納米比亞的Okanjande,這將是未來產量持續增長的來源。所有項目均採用 “電池質量” 石墨,位於政治穩定的司法管轄區的基礎設施附近。
欲了解更多信息,請聯繫
Guillaume Jacq,首席財務官
電話:(613) 271-2124
電子郵件:info@northerngraphite.com
合格人員
Gregory Bowes,理學學士Northern 董事長 MBA P.Geo 是 National Instrument 43-101 所定義的 “合格人士”,並已審查並批准了本新聞稿的內容。
欲了解更多信息
請訪問公司的網站,在我們的公司簡介上 社交渠道 下面列出或 請致電 (613) 271-2124 與公司聯繫。