MONTREAL, Aug. 3, 2018 /CNW Telbec/ - SRG Graphite
Inc. (TSXV: SRG) ("SRG" or the "Company") today announced that
it has filed, on August 2, 2018, its
National Instrument 43-101 ("NI 43-101") Preliminary Economic
Assessment study ("PEA") for the development of its Lola graphite
project in the Republic of Guinea,
West Africa, on SEDAR, as reported
in its news release dated July 10,
2018.
Highlights of the Lola graphite PEA:
- Production of 50,200 tons of graphite concentrate per year over
a 16-year mine life
- Capital costs of $105 million
("M") including contingency of $15M
- Operational costs of $372/tonne
("t") of concentrate and $130/t of
transport
- Pre-tax NPV (8%) of $204M
(post-tax NPV (8%) of $121M) at an
average sales price of $1,328/t
- Project pre-tax IRR of 35% and post-tax IRR of 25%
- Finished grade of over 94% and up to 98% over all size
fractions
- Strip ratio of 0.39
The NI 43-101 PEA was prepared by Montréal-based Met-Chem, a
division of DRA Americas Inc. ("Met-Chem/DRA"). All dollar figures
are in United States dollars.
The Lola Graphite Project is under the direct supervision of
Raphaël Beaudoin, P.Eng., Dr. Marc-Antoine
Audet, P.Geo, Ph.D (Geology) is the Qualified Person ("QP")
as defined by National Instrument 43-101.
The NI-43-101 Technical Report may be referenced on SRG's
website at www.srggraphite.com
and on SEDAR at www.sedar.com.
About Met-Chem/DRA
Met-Chem, a division of DRA Americas Inc., was originally
established in 1969 as a consulting engineering company,
headquartered in Montreal, and
provides a wide range of technical and engineering services.
Met-Chem is well recognized for its capabilities in mining, geology
and mineral processing and has a talented team of engineering,
technical and project management personnel with experience in
North America, Latin America, Europe, West
Africa and India. DRA is a
multidisciplinary global engineering group that originated in
South Africa and delivers mining,
mineral processing, energy, water treatment and infrastructure
services from concept to commissioning, as well as comprehensive
operations and maintenance services for the mineral resources,
water, agriculture and energy sectors. DRA has offices in
Africa, Australia, Canada, China, India
and the United States.
ABOUT SRG
SRG is a Canadian-based company focused on developing the Lola
graphite deposit and the Gogota cobalt-nickel-scandium deposit
located in the Republic of Guinea,
West Africa. SRG is committed to
operating in a socially, environmentally and ethically responsible
manner.
For additional information, please visit SRG's website at
www.srggraphite.com.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
This press release contains "forward-looking information" within
the meaning of Canadian securities legislation. All information
contained herein that is not clearly historical in nature may
constitute forward-looking information, including references to the
plans and project of the Company such as proceeding with production
at the Company's Lola Project, proceeding with exploration
activities on its permits including Lola and Gogota. Generally,
such forward-looking information can be identified by the use of
forward-looking terminology and phrases or state that certain
actions, events or results "may", "could", "would" or "might".
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information.
Forward-looking information is based on assumptions management
believes to be reasonable at the time such statements are made.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in the forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
forward-looking information. Accordingly, readers should not place
undue reliance on forward-looking information. Forward-looking
information is given as of the date of this press release, and the
Company does not undertake to update such forward-looking
information except in accordance with applicable securities laws.
Additional information on these and other factors that could affect
SRG's operations and financial results are included in reports on
file with Canadian securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com).
SOURCE SRG Graphite