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China Carbon Graphite Inc. Releases First Quarter 2013 Results

Posted by AGORACOM-JC at 9:33 AM on Friday, May 17th, 2013

INNER MONGOLIA, China, May 16, 2013 (GLOBE NEWSWIRE) — China Carbon Graphite Group, Inc. (OTCBB:CHGI) (“China Carbon” or the “Company”), the largest wholesale supplier of fine-grain and high-purity graphite in China and one of the nation’s top manufacturers of carbon and graphite products, today announced its financial results for the first quarter ended March 31, 2013.

“The recession of China’s steel industry continues to impact our sales this quarter. We strongly believe the market demand will return very soon just as the last recession in 2008 ended the following year. I am glad our management decided to not only dedicate most of our resources to produce high-grade and high margin graphite products like fine grain and high purity graphite but also continue to explore more applications of our products in order to diversify our risks. I believe this effort will be reflected on our future financials,” said Donghai Yu, Chief Executive Officer of China Carbon Graphite Group Inc.

Sales

During the three months ended March 31, 2013, we had sales of $3,060,918, compared to sales of $10,061,210 for the three months ended March 31, 2012, a decrease of $7,000,292, or approximately 69.6%. The sales decrease was mainly attributable to a significant decline in the demand for our products during the three months ended March 31, 2013, which resulted from the struggle of steel companies.

The breakdown of revenues for each of graphite electrodes, fine grain graphite and high purity graphite, during the three months ended March 31, 2013 and 2012, respectively, is as follows:

 March 31, 2013
Sales		 % of Total
Sales		  March 31, 2012
Sales		 % of Total
Sales
Graphite Electrodes  $ 80,960 2.6%  $ 456,647 4.5%
Fine Grain Graphite 1,394,956 45.6% 4,467,350 44.4%
High Purity Graphite 1,491,521 48.7% 5,051,089 50.2%
Others (1) 93,481 3.1% 86,124 0.9%
Total  $ 3,060,918  100.0%  $ 10,061,210  100.0%
(1) “Other” sales represent revenue generated by sales of semi-processed products and other types of products.

Cost of goods sold; gross margin

Our cost of goods sold consists of the price of raw materials, utilities, labor, and depreciation expenses in our manufacturing facilities. During the three months ended March 31, 2013, our cost of goods sold was $3,320,320, compared to $7,143,606 for the three months ended March 31, 2012, a decrease of $3,823,286 or approximately 53.5%. The decrease in the cost of sales was due to the decline in sales volume.

Our gross margin decreased from 29.0% for the three months ended March 31, 2012 to (8.5)% for the three months ended March 31, 2013. This decline is mainly attributed to a reduction in sales price due to competition, less demand and an increase of cost of goods sold, which is due to increased depreciation allocated to the cost of goods sold resulting from the transfer of construction in progress to property and equipment since the end of 2012.

Operating expenses

Operating expenses totaled $470,411 for the three months ended March 31, 2013, compared to $955,201 for the three months ended March 31, 2012, a decrease of $484,790, or approximately 50.8%.

Selling, general and administrative expenses

Selling expenses decreased from $46,798 for the three months ended March 31, 2012 to $17,941 for the three months ended March 31, 2013, a decrease of $28,857, or 61.7%. The decline was mainly due to lower sales, decreased sales commission and lower shipping and handling expenses during the three months ended March 31, 2013 as compared to the three months ended March 31, 2012.

Our general and administrative expenses consist of salaries, office expenses, utilities, business travel, amortization expenses, public company expenses (including legal, accounting and investor relations) and stock compensation. General and administrative expenses were $384,582 for the three months ended March 31, 2013, compared to $851,399 for the three months ended March 31, 2012, a decrease of $466,817, or 54.8%. The decline in general and administrative expenses was mainly due to decreased consulting expenses and bad debt expenses offset by increased salary expenses for the three months ended March 31, 2013 compared to the three months ended March 31, 2012.

Depreciation and amortization expenses

Depreciation and amortization expenses totaled $655,449 for the three months ended March 31, 2013, compared to $567,584 for the three months ended March 31, 2012, an increase of $87,865, or approximately 15.48%. For the three months ended March 31, 2013, depreciation and amortization was allocated between costs of goods sold, selling and general administrative expenses in the amounts of $587,561 and $67,888, respectively.  For the three months ended March 31, 2012, depreciation and amortization was allocated between costs of goods sold, selling, and general administrative expenses in the amounts $510,580 and $57,004, respectively. The increase in depreciation and amortization expenses is due to additional fixed assets placed in service.

Income (Loss) from operations

As a result of the factors described above, operating loss was $729,813 for the three months ended March 31, 2013, compared to operating income of $1,962,403 for the three months ended March 31, 2012, a decrease of approximately $2,692,216, or 137.2%.

Other income and expenses

Our interest expense was $862,448 for the three months ended March 31, 2013, compared to $1,229,745 for the three months ended March 31, 2012, reflecting decreased interest expenses on loans from banks. Expenses from changes in the fair value of our warrants as a result of adopting ASC 820-10 was $44,368 for the three months ended March 31, 2013, compared to $(479,563) for the three months ended March 31, 2012.

Income tax

During the three months ended March 31, 2013 and 2012, we benefited from a 100% tax holiday from the PRC enterprise tax. As a result, we had no income tax due for these periods. The enterprise income tax at the statutory rates would have been approximately $0 and $165,203, respectively, for the three months ended March 31, 2013 and 2012 without consideration of adjustments on taxable income. The tax holiday is from 2008 through 2017.

Net income (loss)

As a result of the factors described above, our net loss for the three months ended March 31, 2013 was $1,502,268, compared to net income of $253,117 for the three months ended March 31, 2012, a decrease of $1,755,385, or 693.5%.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures graphite and carbon based products in China. The company is the largest wholesale supplier of fine-grain and high-purity graphite in China and one of the nation’s top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the Company was approved and designated by the Ministry of Science & Technology as a “National Hi-tech Enterprise,” a distinction that the Company still holds. Of the more than 400 carbon graphite producers in China, China Carbon Group Inc. is the only non-state-owned company to receive this honor. For more information, please visit www.chinacarboninc.com.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors set forth in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q.

PART 1 – FINANCIAL INFORMATION
China Carbon Graphite Group, Inc. and Subsidiaries
Consolidated Balance Sheets
March 31,
2013		 December 31,
2012
(Unaudited ) (Audited)
ASSETS
Current Assets
Cash and cash equivalents  $ 1,680,254  $ 129,746
Restricted cash 22,379,000 22,149,000
Accounts receivable, Net 7,142,892 11,239,002
Notes receivable 7,401,165 —
Advance to suppliers 12,503,217 1,177,462
Inventories 48,181,039 48,417,875
Prepaid expenses 785,438 280,779
Other receivables, net of allowance of $221,026 and $220,339, respectively 104,639 35,655
Total current assets 100,177,644 83,429,519
Property And Equipment, Net 40,481,778 40,964,363
Construction In Progress 18,943,945 7,324,379
Land Use Rights, Net 9,643,328 9,657,419
Total Assets  $ 169,246,695  $ 141,375,680
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable and accrued expenses  $ 1,431,323  $ 2,250,745
Advance from customers 1,740,402 1,368,525
Short term bank loans 45,241,000 38,680,500
Notes payable 40,733,000 40,606,500
Other payables 1,489,655 630,179
Loan from unrelated parties 11,351,604 338,002
Dividends payable 51,353 46,816
Total current liabilities 102,038,337 83,921,267
Amounts Due To Related Parties 4,637,132 4,795,593
Long Term Bank Loans 16,067,800 4,782,900
Warrant Liabilities 179,994 224,362
Total Liabilities 122,923,263 93,724,122
Redeemable convertible series B preferred stock, $0.001 par value; 3,000,000 shares authorized; 300,000 and 300,000 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively. 360,000 360,000
Stockholders’ Equity
Common stock, $0.001 par value; 100,000,000 shares authorized 25,137,518 and 25,077,518 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively 25,137 25,077
Additional paid-in capital 18,256,121 18,223,781
Accumulated other comprehensive income 9,129,202 8,982,925
Retained earnings 18,552,972 20,059,775
Total stockholders’ equity 45, 963,432 47,291,558
Total Liabilities and Stockholders’ Equity  $ 169,246,695  $ 141,375,680
The accompanying notes are an integral part of these consolidated financial statements.
China Carbon Graphite Group, Inc. and Subsidiaries
Consolidated Statements of Operations and Comprehensive Income
For the Three Months Ended March 31, 2013 and 2012
(Unaudited)
Three months ended
March 31,
2013 2012
Sales  $3,060,918  $10,061,210
Cost of Goods Sold 3,320,320 7,143,606
Gross Profit (loss) (259,402) 2,917,604
Operating Expenses
Selling expenses 17,941 46,798
General and administrative 384,582 851,399
Depreciation and amortization 67,888 57,004
Total operating expenses 470,411 955,201
Operating Income (Loss) Before Other Income (Expense) (729,813) 1,962,403
Other Income (Expense)
Interest expense (862,448) (1,229,745)
Interest income 45,304 22
Other income, net 321 —
Change in fair value of warrants 44,368 (479,563)
Total other expense (772,455) (1,709,286)
Net Income (Loss) (1,502,268) 253,117
Preferred Stock Dividends (4,537) (5,018)
Net Income (Loss) Available To Common Shareholders (1,506,805) 248,099
Other Comprehensive Income
Foreign currency translation gain 146,277 423,897
Total Comprehensive Income $ (1,355,991)  $ 677,014
Share Data
Basic earnings (loss) per share $ (0.06)  $ 0.01
Diluted earnings (loss) per share $ (0.06)  $ 0.01
Weighted average common shares outstanding,
Basic 25,103,518 23,315,645
Weighted average common shares outstanding,
Diluted 25,103,518 23,647,455
The accompanying notes are an integral part of these consolidated financial statements.
China Carbon Graphite Group, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited)
Three months ended
March 31,
2013 2012
Cash Flows from Operating Activities
Net income (loss) $ (1,502,268)  $ 253,117
Adjustments to reconcile net cash provided by operating activities
Depreciation and Amortization 655,449 567,584
Stock compensation 60,345 —
Change in fair value of warrants (44,368) 479,563
Recovery of bad debt expenses  (166,601) —
Changes in operating assets and liabilities
Accounts receivable 4,290,026 (1,310,189)
Notes receivable (7,387,374) (142,124)
Other receivables (68,745) (44,531)
Advance to suppliers (11,300,990) (5,197,009)
Inventory 386,948 (4,075,391)
Prepaid expenses (530,927) 169,188
Accounts payable and accrued liabilities  (824,186) 594,274
Advance from customers 366,928 592,123
Taxes payable 99,446 (110,310)
Other payables 755,723 133,762
Net cash used in operating activities (15,210,594) (8,089,943)
Cash flows from investing activities
Acquisition of property, plant and equipment (2,292) (15,831)
Proceeds from land bureau against cost of land use rights 237,749
Addition of construction in progress (11,575,140) (651,528)
Net cash used in investing activities (11,577,432) (429,610)
Cash flows from financing activities
Proceeds from issuing common stock — 50,000
Proceeds from short term loans 11,249,000 4,755,000
Repayments for short term loans (4,821,000) (4,755,000)
Proceeds from long term loans 11,249,000 —
Proceeds from loan from unrelated parties 10,992,029 9,313,808
Proceeds from loan from related parties 448,994 79,727
Repayments to related parties (622,072) —
Proceeds from stock not yet issued — 77,500
Restricted cash (160,700) 4,945,200
Proceeds from notes payable 17,677,000 10,778,000
Repayments to notes payable (17,677,000) (16,880,250)
Net cash provided by financing activities 28,335,251 8,363,985
Effect of exchange rate fluctuation 3,283 3,819
Net increase (decrease) in cash 1,550,508 (151,749)
Cash and cash equivalents at beginning of period 129,746 521,450
Cash and cash equivalents at end of period  $1,680,254  $ 369,701
Supplemental disclosure of cash flow information
Interest paid  $1,040,625  $ 984,830
Income taxes paid $ — $ —
Non-cash activities:
Preferred stock conversion to common stock $ —  $ 94 
Investor Contact:
Ms. Renee Volaric
Director
RB Milestone Group, LLC
Tel: (212) 661-0075 ext. 113
Email:  

Company Contact:
Mr. Donghai Yu
Chief Executive Officer
China Carbon Graphite Group Inc.

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Alabama Graphite Corp. Receives Final Assays Results from Core Holes on its Coosa Drilling Program

Posted by AGORACOM-JC at 9:24 AM on Friday, May 17th, 2013

May 17, 2013 (ACCESSWIRE-TNW via COMTEX) — May 16, 2013 – Sylacauga, AL – Alabama Graphite Corp. (the “Company”) (cnsx:ALP) (frankfurt:1AG.F WKN A1J35M) is pleased to report assay results from the remaining core holes from its 2012 drilling program at the Coosa Graphite Project, Alabama.

Drilling on the 200′ by 200′ resource grid at the Coosa Project consisted of 54 core holes. With the receipt of the current assays, all of the results have been received. In addition, results from the remaining sonic holes have also been received. The results from these holes will be reported separately.

The drill core was logged and sampled at the Company’s facility in Sylacauga and shipped to ALS Minerals in Elko, NV, for analysis. The samples were analyzed for graphitic carbon (Cg) by the LECO method. Drill holes on the A, B, C and D-lines were among the last processed as an initial visual inspection of the core suggested that their graphite content was low. In contrast, holes on the northeastern portion of the E-line contained thick intercepts of graphitic schist. To some extent, this corresponds to a small topographic high. Graphitic mineralization found along the E-line remains open to the north and east.

Below is a table summarizing the significant results from the new core holes:


         --------------------------------------------------------------------
         |Drill Hole|Area    |Total Depth|From (ft)|To (ft)|Drill    |Cg%   |
         |          |        |A(ft)      |         |       |Thickness|      |
         |          |        |           |         |       |(ft)     |      |
         |------------------------------------------------------------------|
         |AGC-B08C  |Resource|250'       |No Significant Intercepts         |
         |          |Grid    |           |                                  |
         |------------------------------------------------------------------|
         |AGC-B09C  |Resource|49'        |No Significant Intercepts         |
         |          |Grid    |           |                                  |
         |------------------------------------------------------------------|
         |AGC-C03C  |Resource|256'       |No Significant Intercepts         |
         |          |Grid    |           |                                  |
         |------------------------------------------------------------------|
         |AGC-D03C  |Resource|256'       |No Significant Intercepts         |
         |          |Grid    |           |                                  |
         |------------------------------------------------------------------|
         |AGC-D04C  |Resource|250'       |No Significant Intercepts         |
         |          |Grid    |           |                                  |
         |------------------------------------------------------------------|
         |AGC-E04C  |Resource|256.5'     |36'      |85'    |49'      |3.08  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |A         |A       |A And      |220'     |250'   |30'      |2.20  |
         |------------------------------------------------------------------|
         |AGC-E07C  |Resource|305'       |23'      |305'   |282'     |2.70  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-E08C  |Resource|276'       |25'      |270'   |245'     |2.90  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-E09C  |Resource|264'       |75'      |264'   |189'     |2.99  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-I01C  |Resource|291'       |40'      |115'   |75'      |2.62  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |A         |A       |A And      |135'     |230'   |95'      |2.35  |
         |------------------------------------------------------------------|
         |AGC-I02C  |Resource|253'       |30'      |120'   |90'      |2.78  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-I03C  |Resource|256'       |130'     |190'   |60'      |2.59  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-I04C  |Resource|296'       |245'     |280'   |35'      |2.82  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-I05C  |Resource|256'       |85'      |200'   |115'     |2.39  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-I06C  |Resource|261'       |35'      |215'   |180'     |2.32  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |A         |A       |A          |70'      |105'   |35'      |3.41  |
         |          |        |Including  |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-I07C  |Resource|285'       |165'     |245'   |80'      |3.02  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-I08C  |Resource|265'       |45'      |215'   |170'     |2.64  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-I09C  |Resource|256'       |50'      |250'   |200'     |3.10  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |AGC-J01C  |Resource|253'       |60'      |110'   |50'      |2.52  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |A         |A       |A And      |155'     |205'   |50'      |2.33  |
         |------------------------------------------------------------------|
         |AGC-J09C  |Resource|257'       |36'      |70'    |34'      |2.50  |
         |          |Grid    |           |         |       |         |      |
         |------------------------------------------------------------------|
         |A         |A       |A And      |170'     |210'   |40'      |2.35  |
         |------------------------------------------------------------------|
         |A         |A       |A          |A        |A      |A        |A     |
         --------------------------------------------------------------------

A map showing the resource grid and drill holes locations can be found on the Company website at http://alabamagraphite.co.

Dr. Douglas Oliver, VP Exploration, comments, “With the receipt of the final assay results, the Company has completed one phase of its exploration program and has begun the next. Our focus has shifted to preparing the database for delivery to Metal Mining Consultants so that they can begin an initial resource estimate. We are pleased with the drill results and see nothing that should preclude a favorable determination of a resource. The Company also anticipates planning a follow-up drill program later in 2013 to extend the known mineralization.”

Dana Durgin, P.Geo., a Qualified Person as defined by National Instrument 43-101 and independent consultant to the Company, has reviewed the contents of this press release.

About Alabama Graphite:

Alabama Graphite Corp., through its wholly-owned subsidiary, Alabama Graphite Company Inc., is a graphite exploration and development company whose flagship project “The Coosa Graphite Project” in Coosa County, Alabama encompasses of over 40,000 acres located in an area with significant historical production of crystalline flake graphite. For further details go to www.alabamagraphite.co

ALABAMA GRAPHITE CORP.

Daniel Spine, CEO

(404) 661-6254

Danny Gravelle, Investor Relations

(949) 481-5396

[email protected]

THE CANADIAN NATIONAL STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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Rock Tech Drills 89.50 metres of 2.96% Graphite at Lochaber

Posted by AGORACOM-JC at 1:23 PM on Wednesday, May 15th, 2013

May 15, 2013 (ACCESSWIRE-TNW via COMTEX) — Vancouver, British Columbia, Canada, May 15, 2013 – Rock Tech Lithium Inc. CA:RCK 0.00% (frankfurt:RJIA) (the “Company” or “Rock Tech”) announces additional assay results from the drill program it announced on December 10, 2012. This planned 4,600 metre drill program included both step-out and in-fill drill holes and focused primarily on electromagnetic conductors ‘A’ and ‘C’. A few other conductors and magnetic anomalies were also tested during this drill program. The electromagnetic conductors were identified on the Plumbago area of the property during geophysical surveys in September, 2012 (click here to view a map).

Highlights of these assay results include:

-Drill hole PB-12-27A intersected 29.11 metres of graphitic carbon (“Cg”) in four intersections with grades ranging from 2.07% Cg to 4.84% Cg, including 9.35 metres at 4.84% Cg, and 9.34 metres at 3.37% Cg;

-Drill hole PB-12-32 intersected 16.70 metres at 2.62 % Cg;

-Drill Hole PB-12-33 intersected 31 metres at 1.34% Cg; and,

-Drill hole PB-12-34 intersected 148.05 metres Cg in two intersections with grades ranging from 1.16% Cg to 10.92% Cg, including 89.50 metres at 2.96% Cg;

“These assay results demonstrate the continuation of the graphite mineralization to the north along electromagnetic conductor ‘A’. Subsequent drill programs will test the northern extension of this conductor as the mineralization remains open along strike and at depth,” said Afzaal Pirzada, Rock Tech’s Vice President of Exploration and interim CEO.

To date, the Company has received and announced assay results for thirty drill holes and seven trenches. Assay results for the final five drill holes completed during the fourth quarter of 2012 are pending.

Quality Assurance/Quality Control

All core samples are logged and split by wet diamond saw with half sent to the lab for analysis and half stored securely on site. The core sample lengths typically average 1 metre but vary depending on geological boundaries. Additional QA/QC procedures include inserting blanks and standards into the core sample stream at industry standard intervals with duplicate core samples taken at intervals of twenty. Core samples are prepped and analyzed by Global Mineral Research Limited in Burnaby, British Columbia. During analysis, the core samples are dried, pulverized, leached and roasted at 450? Celsius and 1200? Celsius with measured weights taken between double ignitions. The laboratories also conduct duplicate and internal standard samples at intervals of ten as part of their QA/QC program.

For additional details, please see the table below:


         -----------------------------------------------------------------
         |Drill Hole ID|Length From|Length To|Width |Graphite|Geophysical|
         |             |           |         |      |        |Conductor  |
         |             |-------------------------------------|           |
         |             |Metres     |Metres   |Metres|%       |           |
         |---------------------------------------------------------------|
         |PB-12-27A    |6.20       |11.25    |5.05  |2.07    |A          |
         |             |-------------------------------------|           |
         |             |32.50      |41.85    |9.35  |4.84    |           |
         |             |-------------------------------------|           |
         |             |53.30      |62.64    |9.34  |3.37    |           |
         |             |-------------------------------------|           |
         |             |106.92     |112.29   |5.37  |2.33    |           |
         |---------------------------------------------------------------|
         |PB-12-32     |59.50      |76.20    |16.70 |2.62    |C          |
         |---------------------------------------------------------------|
         |PB-12-33     |145.00     |176.00   |31.00 |1.34    |A          |
         |---------------------------------------------------------------|
         |PB-12-34     |19.93      |78.48    |58.55 |1.16    |A          |
         |---------------------------------------------------|           |
         |including    |69.50      |78.48    |8.98  |4.02    |           |
         |---------------------------------------------------|           |
         |A            |154.50     |244.00   |89.50 |2.96    |           |
         |---------------------------------------------------|           |
         |including    |158.50     |161.58   |3.08  |10.92   |           |
         |---------------------------------------------------|           |
         |including    |196.80     |210.00   |13.20 |8.15    |           |
         -----------------------------------------------------------------

Note: The true thickness of the drill intersection may be less than the reported intervals

Drill hole PB-12-27A is located at 475476E, 5056342N (NAD 1983, Zone 18N) with azimuth 91.9? and dip -51.5?, drill hole PB-12-32 is located at 474893E, 5055831N (NAD 1983, Zone 18N) with azimuth 98.7? and dip -48.5?, drill hole PB-12-33 is located at 475599E, 5056564N (NAD 1983, Zone 18N) with azimuth 116.2? and dip -51.3?, and drill hole PB-12-34 is located at 475640E, 5056399N (NAD 1983, Zone 18N) with azimuth 292? and dip -47.1?.

The technical information contained in this news release has been reviewed by Afzaal Pirzada, P.Geo., Vice President of Exploration and interim CEO of the Company and a Qualified Person as defined in NI 43-101.

On behalf of the Board of Directors,

“Afzaal Pirzada”

Afzaal Pirzada, P.Geo.

Source: http://www.marketwatch.com/story/rock-tech-drills-8950-metres-of-296-graphite-at-lochaber-2013-05-15

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Graphite offers amazing potential

Posted by AGORACOM-JC at 9:53 AM on Tuesday, May 14th, 2013

THUNDER BAY – Graphite is the unsung mining opportunity in Northwestern Ontario. From Graphite, comes Graphene. This new compound has the scientific community very excited. The possibilities for graphene are international.

A new joint innovation by the National Physical Laboratory (NPL) and the University of Cambridge could pave the way for redefining the ampere in terms of fundamental constants of physics. The world’s first graphene single-electron pump (SEP), described in a paper today in Nature Nanotechnology, provides the speed of electron flow needed to create a new standard for electrical current based on electron charge.

Graphite in Northwestern Ontario

There is some potentially huge potential for graphene coming from Northwestern Ontario, Zenyatta Ventures has found flake graphite at the company’s Albany Project.

The world’s demand for high quality graphite, to make graphene is expected to climb. Currently, Sri Lanka is the world’s leading producer of high quality graphite.

The international system of units (SI) comprises seven base units (the metre, kilogram, second, Kelvin, ampere, mole and candela). Ideally these should be stable over time and universally reproducible. This requires definitions based on fundamental constants of nature which are the same wherever you measure them.

The present definition of the Ampere, however, is vulnerable to drift and instability. This is not sufficient to meet the accuracy needs of present and certainly future electrical measurement. The highest global measurement authority, the Conférence Générale des Poids et Mesures, has proposed that the ampere be re-defined in terms of the electron charge.

Malcolm Connolly, a research associate based in the Semiconductor Physics group at Cambridge, says “This paper describes how we have successfully produced the first graphene single-electron pump. We have work to do before we can use this research to redefine the ampere, but this is a major step towards that goal. We have shown that graphene outperforms other materials used to make this style of SEP. It is robust, easier to produce, and operates at higher frequency. Graphene is constantly revealing exciting new applications and as our understanding of the material advances rapidly, we seem able to do more and more with it.”

The frontrunner in this race to redefine the ampere is the single-electron pump (SEP). SEPs create a flow of individual electrons by shuttling them in to a quantum dot – a particle holding pen – and emitting them one at a time and at a well-defined rate. The paper published today describes how a graphene SEP has been successfully produced and characterised for the first time, and confirms its properties are extremely well suited to this application.

A good SEP pumps precisely one electron at a time to ensure accuracy, and pumps them quickly to generate a sufficiently large current. Up to now the development of a practical electron pump has been a two-horse race. Tuneable barrier pumps use traditional semiconductors and have the advantage of speed, while the hybrid turnstile utilises superconductivity and has the advantage that many can be put in parallel. Traditional metallic pumps, thought to be not worth pursuing, have been given a new lease of life by fabricating them out of the world’s most famous super-material – graphene.

Previous metallic SEPs made of aluminium are very accurate, but pump electrons too slowly for making a practical current standard. Graphene’s unique semimetallic two-dimensional structure has just the right properties to let electrons on and off the quantum dot very quickly, creating a fast enough electron flow – at near gigahertz frequency – to create a current standard. The Achillies heel of metallic pumps, slow pumping speed, has thus been overcome by exploiting the unique properties of graphene.

The scientist at NPL and Cambridge still need to optimise the material and make more accurate measurements, but today’s paper marks a major step forward in the road towards using graphene to redefine the ampere.

The realisation of the ampere is currently derived indirectly from resistance or voltage, which can be realised separately using the quantum Hall effect and the Josephson Effect. A fundamental definition of the ampere would allow a direct realisation that National Measurement Institutes around the world could adopt. This would shorten the chain for calibrating current-measuring equipment, saving time and money for industries billing for electricity and using ionising radiation for cancer treatment.

Current, voltage and resistance are directly correlated. Because we measure resistance and voltage based on fundamental constants – electron charge and Planck’s constant – being able to measure current would also allow us to confirm the universality of these constants on which many precise measurements rely.

Graphene is not the last word in creating an ampere standard. NPL and others are investigating various methods of defining current based on electron charge. But today’s paper suggests graphene SEPs could hold the answer. Also, any redefinition will have to wait until the Kilogram has been redefined. This definition, due to be decided soon, will fix the value of electronic charge, on which any electron-based definition of the ampere will depend.

Today’s paper will also have important implications beyond measurement. Accurate SEPs operating at high frequency and accuracy can be used to make electrons collide and form entangled electron pairs. Entanglement is believed to be a fundamental resource for quantum computing, and for answering fundamental questions in quantum mechanics.

Source: http://www.netnewsledger.com/2013/05/13/graphite-offers-amazing-potential/

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WATCH: U308 Corp., InterAmerican Gaming Inc., Lomiko Metals Featured On Episode 7 Of The Next Biggest Winner TV Show

Posted by AGORACOM-JC at 10:00 AM on Monday, May 6th, 2013

On this week’s episode of The Next Biggest Winner we will be featuring three great small cap companies.

EPISODE 7 GUESTS

U3O8 Corp. (TSX:UWE) (OTCQX:UWEFF)

InterAmerican Gaming Inc. (PINKSHEETS:IAGM)

Lomiko Metals (TSX VENTURE:LMR)

SEGMENT 1 – Richard Spencer, President and CEO of U308 Corp. discusses Uranium Market Fundamentals. Richard also goes on to discuss the company’s property in Guyana, a prospective mine which could cover an estimated 2,000 hectares or well under 1% of the original land surface covered by its Reconnaissance Permits.

SEGMENT 2 – Marc Askenasi CEO of InterAmerican Gaming Inc. joins George to discuss the company’s mobile strategy. The company’s first product SoFit is a social gaming company that has developed software to empower individuals to track, train and compete through its SoFit platform.

Paul Gill, President and CEO of Lomiko Metals joins the show via Skype to discuss the Quatre Milles property as well as the recently announced strategic alliance with Graphene laboratories Inc.

SEGMENT 3 – Marc Askenasi CEO of InterAmerican Gaming Inc. and Richard Spencer, President and CEO of U308 Corp.  rejoin George on the stage for a round up discussion.

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Lomiko Adds Graphene Experts Dr. Polyakova and Dr. Stolyarov to Board of Advisors

Posted by AGORACOM-JC at 3:18 PM on Tuesday, April 30th, 2013

Apr 30, 2013 — Vancouver, B.C., and New York, NY – Lomiko Metals Inc. CA:LMR -8.33% LMRMF -8.82% DE:DH8B -20.41% (europe:ISIN)(wkn:A0Q9W7) (the “Company” or “Lomiko”) is very pleased to welcome Dr. Elena Polyakova and Dr. Daniel Stolyarov to the Advisory Board of Lomiko Metals Inc.

Dr. Elena Polyakova founded Graphene Laboratories in 2009 as President and Chief Executive Officer. Since founding Graphene Laboratories, the company has grown to be the leading manufacturer and supplier of graphene materials. Dr. Polyakova is an invited speaker at many international forums and conferences, and her input on the graphene industry is regularly published by journalists covering business and technology.

Dr. Polyakova has won numerous awards for her entrepreneurship, including Mass High Tech’s Women to Watch award (2011) and the Hauppauge Industrial Association of Long Islands’ Young Entrepreneur award (2012).

She received her Masters’ degree in Physics and Applied Mathematics with honors from the Moscow Institute of Physics and Technology, and her Ph.D. in Chemistry from the University of Southern California. During Dr. Polyakova’s post-doctoral work at Columbia University, her work on graphene was published in many leading peer-reviewed journals, which she co-authored with Nobel and Kalvi prize winners, as well as members of the National Academy of Sciences. It was then that she realized the commercial potential of graphene, which led to the founding of Graphene Laboratories, Inc.

Dr. Daniel Stolyarov co-founded Graphene Laboratories in 2009 and has since served as Chief Technology Officer. At Graphene Laboratories, he leads efforts to introduce new materials to the Graphene Supermarket product line. He also overviews all production efforts and leads all collaborative R&D projects of Graphene Labs. His work continues to play a critical role in securing Graphene Labs place as a leader in the manufacture and sale of 2D materials.

Dr. Stolyarov speaks at many international conferences about advancements in 2D materials, and insight from his work at Graphene Laboratories has been written about by several publications, including BBC and Physics World.

Previously, he worked at Energetiq Technology Inc. as a Research Scientist, where he helped develop the EQ-99 Laser Driven Light Sourceâ„¢ which won the SPIE and Photonics Media Prism Award (2010), and at Brookhaven National Laboratory as an Assistant Scientist.

He received his Masters’ degree in Physics and Applied Mathematics with honors from the Moscow Institute of Physics and Technology, and his Ph.D. in Physical Chemistry from the University of Southern California. During his academic career, his work on graphene was published in many leading peer-reviewed journals, which he co-authored with Nobel and Kalvi prize winners, as well as members of the National Academy of Sciences.

Lomiko Metals also confirms that it has issued 200,000 stock options at .10 to each new Advisor exercisable for up to 60 months from the date of grant. The options are subject to a four-month hold period commencing April 30, 2013. The options to be granted will be issued in accordance with the company’s stock option plan.

For more information, review the website at www.lomiko.com, or contact A. Paul Gill at 604-729-5312 or by email at: [email protected].

On Behalf of the Board

“A. Paul Gill”

Chief Executive Officer

We seek safe harbor. Neither 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.

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Graphene: the nano-sized material with a massive future

Posted by AGORACOM-JC at 8:23 AM on Tuesday, April 30th, 2013

(CNN) — Ever since it was discovered in 2004, graphene has been hailed as a natural wonder of the materials world destined to transform our lives in the 21st century.

Graphene’s amazing properties excite and confound in equal measure. How can something one million times thinner than a human hair be 300 times stronger than steel and 1,000 times more conductive than silicon?

CNN Labs asked the head of MIT’s graphene research department, Tomas Palacios, to explain why graphene is such a special material and what we can expect it to do for us in the future.

CNN: What is graphene?

Tomas Palacios (TP): Graphene is a one-atom thick layer of carbon atoms arranged in a honeycomb lattice.

This special atomic arrangement gives graphene truly unique properties. For example electrical currents in graphene move faster than in any other material we know of.

Products such as cell-phones will be integrated into the likes of the clothes, pieces of paper and in windows
Tomas Palacios

Heat can also move in graphene very fast and it is the best thermal conductor that we have. On top of this, graphene is the thinnest material in the world as well as the strongest, much stronger than steel and, of course, much lighter.

Finally, because it is only one atom thick, it is perfectly transparent and flexible.

CNN: What applications will it have?

TP: The very first application where graphene is going to be used is probably as a replacement for (the relatively expensive metal) indium selenide in solar cells.

Read: ‘Mantis:’ the monster-sized hexapod robot

After that, I think we will see a new array of communication devices that don’t just use graphene but which also use other two-dimensional materials.

Products such as cell phones will be integrated into the likes of the clothes, pieces of paper and in windows.

Another direction is transparent displays. Basically we are going to have electronic displays embedded almost everywhere, in the windows, in our glasses, in the walls, everywhere.

To do this we need very thin materials that are also transparent and graphene could be that material.

CNN: When will products containing graphene be available?

TP: It depends on the specific application. I believe that the use of graphene in solar cells, displays and so on is probably going to be in the marketplace in a couple of years.

Read: ‘Afterlife’ feels ‘even more real than real’

More complex applications such as computers or cell phones will probably take longer, maybe within five and ten years.

CNN: What challenges remain for researchers?

TP: One important challenge facing graphene is the way the material is developed.

Graphene was isolated for the first time using the Scotch Tape technique (where ever thinner strips are peeled off a block of graphite using sticky tape) and the quantities we can make in large areas still lag behind this method.

The ambition is that one day graphene will be fabricated in the same way that you print newspapers
Tomas Palacios

There has been a lot of work to try and enhance the manufacturability of graphene and there are a few techniques that look very promising but they are not completely mature yet.

The second challenge is that graphene is a material that is only one atom thick. Anything that you do to it is going to impact its properties.

Read: Flying robots learn mind-boggling tricks

We still need to understand better how to fabricate graphene devices and how to be gentle enough not to (break) the formula.

CNN: Are production methods improving?

Recently, Samsung Electronics has demonstrated a single layer of graphene which is 30 inches in diameter. So in just a few years we have gone from micro-meter sized flakes all the way to 30 inches.

The ambition is that one day graphene will be fabricated in the same way that you print newspapers — in a roll to roll process using the same kind of equipment. This will change the entire economics of the electronics industry.

CNN: Are there any other materials like graphene?

TP: Graphene was the first two-dimensional material to be discovered, but it is not the only one. Now there are more than 10 materials that are all two-dimensional with complimentary properties that could be integrated with graphene to provide extra functionality.

Boron nitride for example is also one-atom thick and instead of being a conductor it is an insulator (of heat), the best insulator we know. If you go to three atoms thick we have another material called molybdenum disulfide which is a semi-conductor, like silicon, but lighter and stronger.

These materials can then be combined in order to fabricate completely new material structures that don’t exist in nature. I think that that is a very powerful proposition.

I am completely convinced that graphene is going to end up changing our lives
Tomas Palacios

CNN: When will graphene-based products hit main street?

TP: If you look at how long it traditionally takes new materials to make an impact in the market, it typically takes around 20 years.

We need to be patient but things seem to be moving faster than with other materials.

I think the next couple of years will see quite significant improvements in the growth techniques and synthesis of two-dimensional materials.

At a basic research level we are going to see an emphasis on trying to understand what happens when you stack these materials one on top of the other.

That is going to enable a lot of new understanding which will enable completely new devices.

I am completely convinced that graphene is going to end up changing our lives. Exactly how, I don’t know and I don’t think anyone can know for sure but there is nothing thinner, stronger or more suitable to conduct electricity and that has to be useful for many important things.

Source: http://www.cnn.com/2013/04/29/tech/graphene-miracle-material/index.html?hpt=hp_c3

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Mason Graphite announces robust preliminary economic assessment results, featuring 22 years of production at 27.4% Cgr and an IRR of 33.7%

Posted by AGORACOM-JC at 10:43 AM on Monday, April 22nd, 2013

MONTREAL, April 22, 2013  – Mason Graphite Inc. (“Mason Graphite” or the “Company”) (TSX.V: LLG) reports strong results of a Preliminary Economic Assessment study (“PEA”) for the development of its 100%-owned Lac Guéret graphite project in northeastern Quebec.

Financial Highlights
● Initial direct capital costs of $89.9M
● Production costs of $390 per tonne of finished product
● $364M pre-tax NPV (8% discount); $283M pre-tax NPV (10% discount)
● 33.7% pre-tax Internal Rate of Return
● Payback period of 2.5 years
● 22-year mine life
● Average sales price of $1,525 per tonne
Operational Highlights
● Annual production of 50,000 tonnes of graphite concentrate
● 27.4% average LOM graphite content in the mineralization
● Graphite recovery above 96%
● Up to 96.4% Cgr of finished product purity
● Stripping ratio of 0.76:1

 

Cautionary Note: A PEA is preliminary in nature and includes Inferred Mineral Resources, which are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability.  There is no certainty that the reserves development, production, and economic forecasts on which the PEA is based will be realized.

Benoît Gascon, CEO of Mason Graphite commented, “We are very pleased with the excellent results of the PEA, which demonstrates a low cost project with robust economics. Our senior management team has decades of cumulative experience producing and selling graphite, and with our partners, we have delivered a technically sound, realistic, and highly profitable project. The completion of the PEA is a significant milestone for the project and demonstrates that the Lac Guéret mine has the potential of becoming a reliable and long term global supplier of high quality graphite. We now intend to proceed with the next phase of development in order to bring this exceptional asset one step closer to production.”

The PEA was prepared by Met-Chem Canada Inc. (Montreal, Quebec), with contributions from SGS Minerals Services (“SGS”) (Lakefield, Ontario) for the process development; both are independent leading firms in the mineral processing industry. Unless otherwise noted, all monetary figures presented in this document are in Canadian dollars.

MINERAL RESOURCES

Excellent mineral growth potential expected

The PEA was prepared using data from the July 2012 mineral resource estimate, which consists of 0.3 million tonnes at 24.4% Cgr in the Measured category, 7.3 million tonnes at 20.2% Cgr in the Indicated category and 2.8 million tonnes at 17.3% Cgr in the Inferred category (see Technical Report dated July 3, 2012 for details). This mineral resource is hosted on a small portion of the GC Zone, as shown in figure 1.

July 2012 Mineral Resource Estimate

Categories Unit Tonnes Grade (% Cgr)
Measured (M) Unit 1 (4 to 10% Cgr)
Unit 2 (10 to 27% Cgr)
Unit 3 ( > 27 % Cgr)		 31,200
122,800
144,900		 7.82
14.85
36.72
All units 298,900 24.39
Indicated (I) Unit 1 (4 to 10% Cgr)
Unit 2 (10 to 27% Cgr)
Unit 3 ( > 27 % Cgr)		 2,672,500
2,089,200
2,535,300		 8.09
16.83
36.2
All units 7,297,000 20.24
M + I Unit 1 (4 to 10% Cgr)
Unit 2 (10 to 27% Cgr)
Unit 3 ( > 27 % Cgr)		 2,703,700
2,212,000
2,680,200		 8.67
18.30
36.96
All units 7,595,900 20.40
Inferred Unit 1 (4 to 10% Cgr)
Unit 2 (10 to 27% Cgr)
Unit 3 ( > 27 % Cgr)		 1,272,600
714,200
771,500		 7.56
17.54
33.1
All units 2,758,300 17.29

Since the completion of the July 2012 mineral resource, the Company has completed 26,500 metres of additional drilling. This program consisted of 145 drill holes around the resource envelope in the GC Zone and 18 drill holes in the GR Zone to test for continuity of mineralization (see Nov. 21, 2012 and Feb. 28, 2013 and April 3, 2013 press releases). The program successfully identified mineralization with similar grades in both zones.

After the 22-year mine life proposed in the PEA, 5.6 million tonnes of mineralization grading 13.1% of graphite will still remain as part of the 2012 mineral resource envelope. An updated mineral resource is currently underway by Roche Ltd. Consulting Group, which will include 145 new drill holes from the GC Zone; the Company expects that the addition of the latest GC Zone results in the upcoming mineral resource will significantly increase this quantity and grade and, consequently, will further increase the mine life beyond the one contemplated in the PEA.

COMMERCIAL SALES & REVENUES

50,000 tonnes of saleable graphite annually; $76.2 million in annual revenues

The Lac Guéret mine will produce an average of 50,000 tonnes of saleable graphite annually. At an average sale price of $1,525 per tonne, this represents $76.2 million in annual revenue. The flake size distribution and associated prices are summarized in the table.

Graphite flake distribution and price assumptions

Product Category Tonnes of Product Price per Tonne Annual Revenue
+50 mesh 9,200 $2,200 $20,240,000
+80 mesh 6,095 $2,000 $12,190,000
+150 mesh 7,136 $1,500 $10,703,000
-150 mesh 27,569 $1,200 $33,083,000
Total 50,000 $1,525 $76,217,000

The sale price assumptions used in the PEA were based on the 24-month average graphite prices published by Industrial Minerals magazine (”IM”). Applying Mason’s product distribution to IM’s 24-month averages, the average selling price would become $1,974/tonne. In comparison to the industry’s market prices, the graphite prices used in the PEA are deemed by the Company to be conservative.

Luc Veilleux, CFO of Mason Graphite, commented, “The conservative price assumptions used in the PEA could represent a potential opportunity for improved economics. Integrating the 24-month average IM price of $1,974/tonne in the financial model could yield a potential improvement with a pre-tax NPV (8% discount) of $558M and an IRR of 44.7%.”

The commercial scenario used in the PEA considers realistic assumptions that are based on Mason Graphite’s established relationships with existing markets. Graphite is not an openly traded mineral, therefore prices are negotiated between end-users and producers in annual or multi-year contracts. The Company will continue to build close and continuous relationships with its potential customers in order to tailor the finished product to meet their exact needs. The Lac Guéret project does not rely on yet-to-come technologies and demands; however, it will be well positioned to work with new applications, technologies, markets and customers.

MINING

Highlights
Mining costs $36/tonne of finished product; $6/tonne mined
Average graphite grade 27.4% Cgr
Stripping ratio 0.76:1
Average graphite material mined per year 176,000 tonnes
Average waste mined per year 134,000 tonnes
Total material moved per year 310,000 tonnes

The Lac Guéret graphite deposit outcrops on surface, therefore mining will be carried out using conventional open pit mining. Due to the hard nature of the mineralization, drilling and blasting will be required. The high grade graphite in the mineralization and the low waste stripping ratio will result in a very low amount of total material movement. Throughout the life of the mine, only about 6 tonnes of material will have to be mined for the production of one tonne of finished graphite concentrate.

The processing plant and waste dump will be located less than 1,500 metres from the mine to ensure short cycle times and low production costs.

PROCESSING & RECOVERY

Proven process resulting in exceptionally high graphite recoveries above 96%

Highlights
Processing costs $221/tonne of finished product;
$63/tonne of material processed
Annual average processing rate 176,000 tonnes
Annual average production 50,000 tonnes of graphite concentrate
Average graphite recovery Above 96%
Finished product purity Up to 96.4% Cgr

The graphite recovery process at Lac Guéret consists of crushing, followed by multiple steps of grinding and flotation separation circuits. The processing plant is based on a flow sheet developed by SGS, using proven technologies to create a very efficient process resulting in remarkably high graphite recoveries. Lock cycle tests were performed by SGS and have demonstrated the robustness of the flow sheet.

Using standard product specifications of the industry, commercial distribution was calculated based on the mineral deposit’s metallurgical distribution. See the Company’s press release dated February 22, 2013 for further detail on the Lac Guéret metallurgical results.

The processing plant was designed to allow for capacity increases to satisfy the market demand.

Flake size distribution for annual production of 50,000 tonnes of concentrate

Flake Size Distribution (%) Tonnes of Product
+50 mesh 18.4% 9,200
+80 mesh 12.2% 6,095
+150 mesh 14.3% 7,136
-150 mesh 55.1% 27,569
Total 100.0% 50,000

Additional development work is planned with the goal of further optimizing the flake size distribution as well as the purity of the final concentrate. These tests will also be conducted on samples obtained from other areas of the mineral deposit.

CAPITAL & OPERATING COSTS

Low capital intensity and cash operating costs

Capital Cost Breakdown
Mining $8,026,000
Plant $55,264,000
Tailings and water management $4,271,000
Infrastructure and Services $17,074,000
Total direct costs $89,935,000
Contingency (20 % of direct costs) $17,987,000
$107,922,000
Indirect costs $21,768,000
Sustaining capital $6,281,000
Mine closure and rehabilitation $4,493,000

 

 

Cash Operating Cost Breakdown (per tonne of finished product)
Mining $36/tonne
Plant $221/tonne
Support & Infrastructure $133/tonne
Total $390/tonne

PROJECT LOCATION & INFRASTRUCTURE

Excellent accessibility in a stable and mining-friendly jurisdiction

The Lac Guéret property covers approximately 11,630 ha (116 km2) in northeastern Quebec, and is located about 300 km north of the main service centre of Baie-Comeau. The mine site is accessible from the main public highway, Hwy 389, via approximately 80 km of good quality logging roads throughout the property. The Company plans to build a mining and operations camp that will consist of accommodations for the personnel, offices and a fully equipped maintenance facility for the fleet of vehicles. Power for the project will be produced onsite using diesel generators.

The Technical Report will be posted on Mason Graphite’s website at www.masongraphite.com and on SEDAR at www.sedar.com, within 45 days following this news release.

Quality Control and Assurance

Mary-Jean Buchanan, Eng. M.Env., of Met-Chem Canada Inc. independent Qualified Person as defined by National Instrument 43-101, for the purposes of the PEA has reviewed the technical content of this press release. Jean L’Heureux, Eng., Senior Director of Process Development for Mason Graphite, and a Qualified Person for Mason Graphite has read and approved this press release.

About Mason Graphite

Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret graphite property, which is located in northeastern Québec near the main service center of Baie-Comeau. The Lac Guéret graphite property currently hosts a National Instrument 43-101 compliant Mineral Resource (see news release issued on July 16, 2012), which considers the exploration of only 17% of one well defined zone. Excellent potential exists for mineral growth. The Company’s senior management team possesses significant graphite expertise from their experience at Timcal/Imerys; including Benoit Gascon, CPA, CA, who held 20 years of executive positions, including over 6 years as President and CEO; Jean L’Heureux, Eng., Senior Director of Process Development, with over 20 years of experience; and Luc Veilleux, CPA, CA, with 8 years of experience. Timcal, now owned by Imerys, is one of the largest graphite producers in the world.

Cautionary Statements Regarding Forward Looking Information

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. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. 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, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; * access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.

Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. 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. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made 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.

 

 

 

 

Image with caption: “Figure 1 – GR Zone & GC Zone showing July 2012 mineral resource area (CNW Group/Mason Graphite Inc.)”. Image available at: http://photos.newswire.ca/images/download/20130422_C7293_PHOTO_EN_25822.jpg

Image with caption: “Figure 2 – Lac Guéret property location and infrastructure (CNW Group/Mason Graphite Inc.)”. Image available at: http://photos.newswire.ca/images/download/20130422_C7293_PHOTO_EN_25821.jpg

SOURCE: Mason Graphite Inc.
For further information:

For more information about Mason Graphite, visit www.masongraphite.com or contact:

Investor Relations
+1 (416) 861-1685
[email protected]

Simon Marcotte, Vice-President Corporate Development
+1 (416) 309-2133

Benoît Gascon, President & CEO
+1 (514) 289-3574

Montreal Office
2000 McGill College ave., Suite 2210
Montreal, QC H3A 3H3

Toronto Office
65 Queen Street West, Suite 800
Toronto, ON M5H 2M5

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Focus Graphite Reports Commissioning and Start Up of Lac Knife Project Pilot Plant

Posted by AGORACOM-JC at 8:52 AM on Wednesday, April 17th, 2013

OTTAWA, ONTARIO–(April 17, 2013) – Focus Graphite Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) (“Focus” or the “Company”) is pleased to report the commissioning of its pilot plant and the start-up of circuit testing for the production of high-grade graphite concentrates from the Company’s wholly-owned Lac Knife, Québec graphite project.

The principal objectives of the pilot plant testwork are to confirm the results from Phase II bench scale Locked Cycle Tests (LCT)*; to assess the technical viability and operational performance of the processing plant design; to generate tailings for environmental testing, and; to produce a range of graphite raw materials for customer assessments and for further upgrading.

The Lac Knife project pilot plant was designed and built and is being operated by SGS Canada Inc. (“SGS”) in Lakefield, Ontario. The testing is expected to last 4-6 weeks.

Dr. Joseph Doninger, Focus Graphite’s Director of Manufacturing and Technology said the pilot plant tests are a critical component of the Lac Knife project development program.

“The testwork will provide us with the information we need to refine and optimize the design our mineral processing flow sheet and adjust individual circuits. They’ll also generate data needed for scale up of relevant processing equipment and to identify those critical controls required to maintain consistency of graphite concentrate recovery and purity.

“At the end of the day,” Dr. Doninger said, “the pilot plant campaign will provide us with the knowledge and the ability to adjust our processes to produce high purity graphite concentrates to fit individual customers’ needs and technical requirements.”

On March 4, 2013, the Company published its preliminary Phase II LCT* results which confirmed the high purity of the concentrates generated from four composite core samples comprised of low-grade and semi-massive graphite with a head grade ranging between 6.0% C and 20.7% C.

The highlights of those tests conducted by SGS confirmed:

  • The average amount of graphite flake recovered from the core samples in the Phase II LCT increased to 92.2% compared with a recovery of 84.7% graphite flake in the Phase I LCT;
  • The proportion of large flakes (+80 mesh) in the graphite concentrates ranged between 35% and 58%;
  • The carbon content of graphite concentrates produced from the four (4) composites averaged 96.6 %C, including the fine flake fraction (-200 mesh), a 4.6% increase over Phase I LCT completed in mid-2012.

Final results for Phase II LCT including for the two composite drill core samples of massive graphite mineralisation are pending.

* A locked cycle test is a repetitive batch flotation test conducted to assess flow sheet design. It is the preferred method for arriving at a metallurgical projection from laboratory testing. The final cycles of the test are designed to simulate a continuous, stable flotation circuit.

Lac Knife Pilot Plant Testing Program

The pilot plant was designed, built and is being operated by SGS Canada Inc. (“SGS”) in Lakefield, Ontario. The flow-sheet design for the pilot plant is based on the results of Phase II bench top LCT at SGS and on the findings of experimental test work conducted at Metchib Metallurgical Laboratories of Chibougamau, Québec. The pilot plant is designed to operate in continuous mode at a feed rate of 200 kg per hour and it includes grinding mills, mechanical flotation cells, magnetic separator, flotation columns, classification devices, dewatering and other ancillary equipment such as power generation, electrical components, internal piping, a water distribution system and flotation reagent distribution. The grinding and floatation components of the circuit have been configured specifically to minimize flake wear and breakage and ensure maximize flake size preservation.

Two bulk graphite composites were provided to SGS by the Company to use as feed material for the pilot plant. The first is a bulk 21.6t sample of weathered semi-massive grade graphite mineralisation collected from surface that will be used for mechanical and metallurgical commissioning of the pilot plant circuit. The second bulk composite sample was assembled from drill core and consists of a 23.3t blend of core samples from the massive, semi-massive and low-grade mineralisation zones from the deposit. Both composites were crushed and homogenized by SGS prior to the pilot plant campaign to ensure consistent feed. Once the pilot plant circuit is dialed-in using the surface bulk sample, the composite core sample will be introduced into the circuit. The results from the processing of the bulk drill core sample will be used to establish the processing plant flow-sheet design. Graphite flake samples produced from the pilot plant will be submitted to potential customers for quality evaluations and purification trials designed to generate final saleable products.

Testing at SGS is expected to last 4-6 weeks.

About Focus Graphite

Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Measured and Indicated mineral resource of 4.972 Mt grading 15.7% carbon as crystalline graphite with an additional Inferred mineral resource of 3.000 Mt grading 15.6% crystalline graphite. Focus’ goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Analysis (“PEA”) of the Lac Knife project which demonstrates the project has excellent potential to become a producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus invests in the development of graphene applications and patents through Grafoid Inc.

About SGS Canada’s Metallurgical Services (Lakefield)

SGS Canada Inc. (“SGS”) is recognized as a world leader in the development of flow sheets and pilot plant programs. SGS’ Metallurgical Services division was founded over half a century ago. Its metallurgists, hydrometallurgists and chemical engineers are experienced in all the major physical and chemical separation processes utilized in the recovery of metals and minerals contained in resource properties around the world.

The technical information presented in this press release has been reviewed by Marc-André Bernier, M.Sc., P.Geo. (Québec and Ontario), Focus Director and a Qualified Person under NI 43-101.

Forward Looking Statements – Disclaimer

This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com Focus Graphite disclaims any intention or obligation to revise or update such statements.

Neither 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.

Contact Information

 

Mr. Gary Economo
President and Chief Executive Officer
613-691-1091, ext. 101
[email protected]
www.focusgraphite.com

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Lomiko Sends 94%-100.00%, High to Ultra Pure Carbon Flake Graphite Samples to Graphene Labs for Graphite to Graphene Testing

Posted by AGORACOM-JC at 1:43 PM on Tuesday, April 16th, 2013

VANCOUVER, BRITISH COLUMBIA and NEW YORK, NEW YORK–(April 16, 2013) – LOMIKO METALS INC. (TSX VENTURE:LMR)(PINKSHEETS:LMRMF)(FRANKFURT:DH8B) (Europe: ISIN: CA54163Q1028, WKN: A0Q9W7) (the “Company”) announces that it has prepared a variety of high to ultra pure carbon flake graphite samples for testing by Strategic Alliance Partner Graphene Laboratories Inc. (“Graphene Labs”), which has been involved in researching graphene and the development of graphene-related products.

Lomiko and Graphene Labs plan to co-develop a vertically integrated supply chain that includes a secure supply of high-quality graphite, cost-effective and scalable processing, tight quality control and integration of graphene-based products in end-user products. The parties will capitalize on the secure supply of high quality graphite, provided by Lomiko, and the extensive customer database and expertise in graphene materials brought by Graphene Labs.

Lomiko will provide mineral samples from the Quatre Milles Project required for testing natural high quality flake graphite for graphene conversion. The primary goal of testing is for Graphene Labs to develop a feasible procedure for the purification of flake graphite for use in graphene production. Graphene Labs will also provide guidance on technologies tailored to the production of graphene and graphene-related materials.

Further, Lomiko will continue to work towards securing financing to complete the acquisition of the Quatre Milles West Property.

Graphene Laboratories Inc. Background

Graphene Laboratories, Inc., located in Calverton, NY, specializes in the manufacture and sale of research materials to R&D markets, with the world’s largest selection of advanced and 2D materials. Having been first in the market to introduce graphene materials for research use, the company is working towards industrial-scale production of graphene and graphene-like materials, currently with pilot-scale production capabilities. The team at Graphene Laboratories are recognized experts in graphene materials, with staff regularly presenting at international conferences and exhibitions. Researchers at Graphene Labs also specialize in custom projects and R&D.

Graphene Laboratories Inc. operates both the Graphene Supermarket® (www.graphene-supermarket.com) and Maximum Materials™ (www.maximum-materials.com), and is a leading supplier of advanced 2D materials to thousands of customers around the globe. The company offers a wide variety of graphene materials, as well as other advanced 2D nanomaterials such as molybdenum disulfide, tungsten disulfide, and boron nitride products.

For more information on Graphene Laboratories, Inc, visit www.graphenelabs.com or contact them at (516)-382-8649 or via email at [email protected].

Lomiko Metals Inc Background

Lomiko Metals Inc. is a Canada-based, exploration-stage company. The Company is engaged in the acquisition, exploration and development of resource properties that contain minerals for the new green economy. Its mineral properties include the Quatre Milles Graphite Property and the Vines Lake property which both have had recent major discoveries. In April, 2012, a 122 Ha zinc anomaly in soils was found on the Company’s 100% owned Vines Lake property. The Vines Lake property is located in the south western corner of the Cassiar Gold District. The Vines Lake property consists of fifteen claims comprising 5,290 hectares. In October and November, 2012, Lomiko Metals Inc. announced 11 drill holes had intercepted several high grade intercepts of 9.81%, 10.11% and 10.80% over 3 to 5 metres in length 4.77 metres or less from the surface at the 3,780 Ha Quatre Milles Property indicating open pit potential. The project is located 175 km north of the Port of Montreal and 26 km from a major highway on a well-maintained gravel road.

On Behalf of the Board

A. Paul Gill, Chief Executive Officer

We seek safe harbor.

Neither 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.

Contact Information

 

Lomiko Metals Inc.
A. Paul Gill
604-729-5312
[email protected]
www.lomiko.com

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