VANCOUVER, May 15, 2019 /CNW/ - Leading Edge Materials
Corp. ("Leading Edge Materials" or
the "Company") (TSXV: LEM) (OTCQB: LEMIF)
(Nasdaq First North: LEMSE) is pleased to announce receipt
of an engineering study (the "Study") for the installation
and operation of a battery graphite demonstration plant at the
Woxna mine site in Sweden.
The Study was undertaken by a leading global engineering firm,
using data from the extensive purification and spheronisation test
work completed by the Company over past years (see press release
dated 18th Jan 2019). The Study provides design,
installation and cost estimate criteria for a spheronisation and
thermal purification process that can deliver approximately 100kg
per day of high purity natural graphite anode suitable for lithium
ion batteries (see flowsheet Figure 1).
When installed, it is expected that the demonstration plant will
deliver a substantial volume of natural graphite anode, enabling
Woxna graphite to progress towards battery customer
qualification. The thermal purification process is designed
with a high degree of flexibility. Recent test work by
Leading Edge Materials has produced ultra-high purity graphite up
to 99.998% carbon and the process flexibility will allow purity to
be tailored to customers performance and price requirements.
Spheronisation test work produced D50 size ranges from 15-25 micron
with D10 ranges of 7-12 micron and D90 from 28-35 micron.
These ranges meet specifications provided by potential customers
and are consistent with anode materials used by all current lithium
ion battery manufacturers.
Technical information has been verified by Mr. Mark Saxon, Interim President and CEO of Leading
Edge Materials and a Fellow of the Australasian Institute of Mining
Metallurgy, being a qualified person under National Instrument
43-101 including the sampling, analytical, and test data underlying
the information or opinions.
The demonstration plant is designed to deliver essential
operating data, including energy requirements, cost, environmental
and health and safety considerations that can be incorporated into
mine scale design. The demonstration plant costing
incorporates equipment manufacturer quotations, and is designed to
be installed on the Leading Edge Materials Woxna mine site, where
space, adequate power, skilled personnel and waste management
facilities are already in place.
Furthermore, Leading Edge Materials has received written
confirmation from the Gävleborg Länsstyrelsen ("County
Administration Board") that based on the engineered design, the
demonstration will conform with current site permits.
Mark Saxon, Interim President
and CEO, stated "After the considerable time dedicated to graphite
anode process development and optimization, we are very pleased to
have achieved this milestone for the Woxna graphite mine. As
there is no natural graphite anode produced in Europe, we believe that installation of the
demonstration plant will make a very significant contribution to
the security of the emerging European lithium ion battery supply
chain."
Today, 100% of natural graphite anode is manufactured in
China using chemical leaching
which emits waste streams for treatment or disposal. In
contrast, the thermal purification process designed for the Woxna
demonstration plant requires no chemicals, instead using elevated
temperature to remove impurities. The purification furnace at
Woxna will be operated using cost competitive Swedish electrical
power which is expected to result in a low carbon
footprint.
Mr. Mark Saxon, Interim President
and CEO of Leading Edge Materials and a Fellow of the Australasian
Institute of Mining Metallurgy, being a qualified person under
National Instrument 43-101, has supervised the preparation and
approved the contents of this release.
On behalf of the Board of Directors, Leading Edge
Materials Corp.
Mr. Mark
Saxon, Interim CEO
About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on
production of high value critical raw materials for the European
market, with an operating base in the Nordic region, a region well
recognized for its promotion and investment in innovation.
LEM's flagship asset is the Woxna Graphite production
facility located in central Sweden
targeting the supply of specialty materials for lithium ion battery
production.
Additional Information
The information was submitted for publication through the agency
of the contact person set out above, at 15th
May 2019 at 5:00 am Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol
"LEM" and Nasdaq First North Stockholm under the symbol
"LEMSE". Mangold Fondkommission AB is the Company's Certified
Adviser ("CA") on Nasdaq First North and may be
contacted at +46 (0) 8 5030 1550.
Reader Advisory
This news release may contain statements which
constitute "forward-looking information", including
statements regarding the plans, intentions, beliefs and
current expectations of the Company, its directors,
or its officers with respect to the future business activities of
the Company. The words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar
expressions, as they relate to the Company, or
its management, are intended to identify such forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future business
activities and involve
risks and uncertainties, and
that the Company's future business activities may
differ materially from those in the
forward-looking statements as a result of various
factors, including, but not limited to,
fluctuations in market prices, successes of the operations of
the Company, continued availability of capital and financing and
general economic, market or business conditions.
There can be no assurances that such information will
prove accurate and, therefore, readers are advised to rely on their
own evaluation of such uncertainties. The Company does not
assume any obligation to update any forward-looking
information except as required under the applicable
securities laws.
Woxna has never defined a mineral reserve and the previous
preliminary economic assessment on Woxna dated October 29, 2013, has been superseded by the
Company's current technical report dated May
11, 2015. As the Woxna facility is not in production
but remains on a production ready status, any future decision to
recommence mining at Woxna will not be based on a preliminary
economic assessment demonstrating the potential viability of
mineral resources or feasibility study of mineral reserves
demonstrating economic and technical viability. Under these
circumstances, there is increased risk of technical and economic
failure for the Woxna project, and the Company discloses additional
risk factors relating thereto. The Company advises that it has not
based its production decision on a feasibility study of mineral
reserves, demonstrating economic and technical viability, and, as a
result, there may be an increased uncertainty of achieving any
particular level of recovery of minerals or the cost of such
recovery, including increased risks associated with developing a
commercially mineable deposit. Historically, such projects have a
much higher risk of economic and technical failure. There is no
guarantee that production will begin as anticipated or at all or
that anticipated production costs will be achieved. Failure to
commence production would have a material adverse impact on the
Company's ability to generate revenue and cash flow to fund
operations. Failure to achieve any anticipated production costs
would have a material adverse impact on the Company's cash flow and
future profitability. Mineral resources that are not mineral
reserves do not have demonstrated economic viability.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this news release.
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SOURCE Leading Edge Materials