NOUVEAU MONDE PROVIDES AN UPDATE ON THE PROGRESS OF ITS PROJECT
30 March 2020 - 9:00PM
Despite the social and economic disruptions brought about by the
COVID-19 pandemic, Nouveau Monde Graphite Inc. (“Nouveau Monde” or
“NMG”) (TSXV: NOU; OTCQX: NMGRF; Frankfurt: NM9) remains focused on
its business objectives to launch commercial production in 2022.
Mine and Concentrator
The development of the mine and concentrator for
the Matawinie property continues to advance. Detailed engineering
of the site for the concentrator and the process continues in
telecommuting format with team members and consultants; the class 2
estimate should be completed at the end of Q3-2020 as well as the
commissioning of long-lead equipment.
Work required for the project permitting is also
progressing. Civil servants are continuing the environmental
assessment analysis and, according to the information obtained to
date, the Bureau d'audiences publiques sur l'environnement (BAPE)
report is still on track for submission in T2-2020.
Value-Added Products
In parallel to the promising preliminary results
obtained at its micronization and spheronization unit located in
Saint-Michel-des-Saints, planning for the construction of a
demonstration plant for the purification of spherical graphite in
Bécancour continues. Commercial discussions, the qualification of
finished products, engineering work, the authorization process and
budgeting are progressing as planned with involved partners.
Corporate Measures
In order to slow the progression of the
pandemic, the Quebec government has suspended non-essential
economic activities until April 13, 2020. Until economic activity
resumes, Nouveau Monde is acting accordingly by applying the
government directives, tightening the pace of spending and focusing
its efforts on critical activities in order to achieve the key
development milestones of its project.
Exceptional measures were temporarily deployed
to get through this period of economic instability, including the
suspension of operations at the Saint-Michel-des-Saints
demonstration plant and the temporary layoff of a number of hourly,
administrative and maintenance personnel.
Eric Desaulniers, President and Chief Executive
Officer of NMG: “With growing global awareness of the need for
local and agile supply chains, the outlook for our project is more
favourable than ever. Although the short-term context is impacting
the economy and markets, I am confident that the measures we have
put in place will allow us to continue the development of our
projects and weather this global storm.”
ABOUT Nouveau Monde
GraphiteNouveau Monde Graphite is developing the Matawinie
graphite mining project, located in Saint-Michel-des-Saints, 150 km
north of Montréal, QC. At the end of 2018, the Company published a
Feasibility Study which revealed strong economics with projected
graphite concentrate production of 100,000 tonnes per year, with an
average concentrate purity of 97%, over a 26-year period.
Currently, Nouveau Monde operates a demonstration plant where it
produces concentrated flake graphite, which is being sent to
potential North American and international clients for the
qualification of its products. In a perspective of vertical
integration within the electrical vehicle market, Nouveau Monde is
planning a large-scale secondary graphite transformation facility,
catering to the needs of the booming lithium-ion battery industry.
Dedicated to high standards of sustainability, the Matawinie
graphite project will be the first of its kind to operate as an
all-electric, low-carbon mine.
Media |
Investors |
Julie Paquet Director,
Communications 450-757-8905 #140 jpaquet@nouveaumonde.ca |
Christina Lalli Director,
Investor Relations 438-399-8665 clalli@nouveaumonde.ca |
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Cautionary Note Regarding
Forward-Looking Information
All statements, other than statements of
historical fact, contained in this press release including, but not
limited to (i) the increase of Mineral Resources tonnage,
(ii) the conversion of Inferred or Indicated
Mineral Resources to Measured Resources and the conversion of
Mineral Resources to Mineral Reserves , (iii) the positive impact
of the foregoing on project economics, and
(iV) generally, or the “About Nouveau Monde
Graphite” paragraph which essentially describe the Corporation’s
outlook and objectives, constitute “forward-looking information” or
“forward-looking statements” within the meaning of certain
securities laws, and are based on expectations, estimates and
projections as of the time of this press release. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Corporation as
of the time of such statements, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. These estimates and assumptions may prove to be
incorrect.
Many of these uncertainties and contingencies
can directly or indirectly affect, and could cause, actual results
to differ materially from those expressed or implied in any
forward-looking statements. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Forward-looking statements are
provided for the purpose of providing information about
management’s expectations and plans relating to the future. The
Corporation disclaims any intention or obligation to update or
revise any forward-looking statements or to explain any material
difference between subsequent actual events and such
forward-looking statements, except to the extent required by
applicable law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Further information regarding Corporation is
available in the SEDAR database (www.sedar.com) and on the
Corporation’s website at: www.NouveauMonde.ca
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