MONTREAL,
June 6, 2013 /CNW/ - Mason
Graphite Inc. ("Mason Graphite" or the "Company") (TSX.V: LLG)
has filed a National Instrument 43-101 compliant technical report
dated June 6, 2013 entitled "NI
43-101 Technical Report on the Preliminary Economic Assessment, Lac
Guéret Graphite Project, Québec-Canada" under its profile on SEDAR at
www.sedar.com and its website at www.masongraphite.com. The report
contains a comprehensive breakdown of the preliminary economic
assessment ("PEA") of the Company's 100% owned Lac Guéret Project,
the results of which were announced in a news release dated
April 22, 2013.
PEA Highlights
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 |
Full technical details and notes for the PEA
can be found in the technical report entitled "NI 43-101 Technical
Report on the Preliminary Economic Assessment, Lac Guéret Graphite
Project, Quebec, Canada" dated
June 6, 2013 and effective
April 22, 2013, which is available
under Mason Graphite's profile on SEDAR at www.sedar.com and on
Mason Graphite's website at www.masongraphite.com.
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.
Quality Control and Assurance
Mary-Jean Buchanan, Eng. M.Env., of Met-Chem
Canada Inc., an 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.,
Executive Vice President 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 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., Executive Vice President Process
Development, with over 20 years of experience; and Luc Veilleux, CPA, CA, CFO and Executive Vice
President, 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.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Mason Graphite Inc.