Mason Graphite presents its updated feasibility study economic results for the Lac Guéret Project
Mason Graphite Inc. (“Mason Graphite” or the “Company”) (TSX.V: LLG; OTCQX: MGPHF) presents detailed updated economics for the Lac Guéret graphite project (the “Project”).
On October 25th, 2018, Mason Graphite communicated its new construction budget for the Project in its Corporate and Project update. This new budget is part of a full update of the economics of the Project (“Project Economics”).
Benoît Gascon, President and Chief Executive Officer of Mason Graphite, commented: “As we are completing the detailed engineering, have started receiving equipment and have begun pre-construction work at mine site, we have updated the economics of the project. This update demonstrates, once again, that our project remains financially very robust and is becoming a reality at the dawn of an imminent and unique growth period for natural graphite, driven by the Li-ion batteries and electric vehicles revolution, expected for many years. Furthermore, this does not take into account the potential returns of the value-added and Li-ion battery materials program, another very strong upside potential for our shareholders.”
The technical and financial data was prepared by GoldMinds Geoservices, BBA and Soutex and validated by Qualified Persons, all independent of Mason Graphite.
Project Economics Update Highlights
- No change to the Mineral Resources;
- No change to the Mineral Reserves;
- No material changes to the Project scope (production capacity and process unchanged);
- Updated Capital Expenditures (“CAPEX”), Operating Expenditures (“OPEX”) and Natural Graphite sale prices;
- Updated NPV, IRR and Payback period.
“Benoît Gascon, CPA, CA”, President & Chief Executive Officer
CONSTRUCTION FINANCING UPDATE
Mason Graphite has been receiving financing interests from both existing and potentially new investors regarding various financial instruments. With the help of its financial advisor, National Bank Financial Inc., the Company is reviewing its financing options with the objective of maximising shareholders’ value.
As of November 30th, 2018, the Company had approximately $30 M of cash liquidity.
Discussions with potential customers are progressing, the Company receiving interest from large international groups, which could eventually become important partners for Mason Graphite.
Mason Graphite has received all of the necessary authorizations and has started the tree clearing operation at the Lac Guéret Site. The Company expects this operation to be completed by mid-December 2018.
NI-43-101 TECHNICAL REPORT
Within the next 45 days, Mason Graphite will publish and file under SEDAR an updated technical report respecting National Instrument 43-101 Standards of Disclosure for Mineral Jean L’Heureux, P. Eng., M. Eng., Executive Vice-President, Process Development for Mason Graphite, and a Qualified Person, as defined by NI 43-101, for Mason Graphite was responsible for verifying the data herein and has read and approved this press release.
About Mason Graphite and the Lac Guéret Project
Mason Graphite is a Canadian mining and processing company focused on the development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over six decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com.
Forward Looking Statements Apply.