Over 500 people attended the monitoring committee’s fifth public
meeting for the Lac Guéret project held on October 29th. It was the
highest turnout observed so far, which confirms the interest and
the regional support toward the project.
Ongoing Interest in the Project
The initial aim of this meeting was to present the most recent work
done by the monitoring committee. However, it was questions from
the thirty or so citizens present and the approximately 470 people
following the event live on Facebook that occupied the evening. The
video is still available for viewing on Mason Graphite’s Facebook
page.
“We are pleased with the citizens’ high level of
interest and enthusiasm regarding the Lac Guéret project. We are
aware that the scope of such a project requires a great deal of
preparation, consultation, and monitoring. It’s important for our
team to offer opportunities to stakeholders to be kept informed on
an ongoing basis,” says Jean L’Heureux, P. Eng., M. Eng., Executive
Vice President, Process Development.
At the operational level, the Company confirmed
that 75% of the engineering work has been completed. The Company
has also received its main process equipment, which could have
taken up to a year for delivery, and are currently being stored in
Baie-Comeau. Mason Graphite also reported on the revised layout of
the mine infrastructure, which improves water management and
environmental protection without impacting the project’s budget.
Additionally, the Company explained that it obtained several new
permits and that construction is ready to begin as soon as
financing is completed. Among these permits, the Company currently
holds one for preparatory work at the concentrator site in
Baie-Comeau and another for the relocation of waste rock piles at
the mine site. As for financing, following the $45M raised in early
2018 and the $28M raised through the sale of NanoXplore Inc.
shares, Mason Graphite stated that it was on the right track and
discussions remain ongoing. The Company reiterated the importance
of completing its financing by teaming up with financial partners
who share our vision.
Monitoring CommitteeDuring the
monitoring committee’s working session held prior to the public
meeting, the members of the committee reviewed the Guide des bonnes
pratiques sur les comités de suivi et obligations légales des
promoteurs pour des projets miniers et d’hydrocarbures (which could
translate to “Guide to Good Practices for Monitoring Committees and
the Legal Obligations of Promoters of Mining and Hydrocarbon
Projects”) that was recently issued by the Ministry of Energy and
Natural Resources (MERN). Following this analysis, Mason Graphite
is pleased with and proud of the positive results of its practices
and those of the monitoring committee, which respect and often
exceed the recommendations issued by the MERN. Actions of the
Company are concrete contributions to fulfill its commitments
which, in turn, strengthens local communities’ ownership of the
project.
The monitoring committee’s mandate is to help
assess the project’s social and environmental performance, to
ensure the Company’s sustainable development commitments are met,
and to optimize the benefits for the community. This committee,
which meets four times a year and has 13 members, was set up in
July 2018. These three factors far exceed what is required by law,
which stipulates that a committee, with a minimum of 4 members,
must be established within 30 days of obtaining a mining lease and
must meet once a year.
Mason Graphite would like to thank Josée Parisée
for her significant involvement and contribution since the
committee’s establishment in 2018. Following her departure from the
leadership of the Manicouagan Chamber of Commerce, Antonio Hortas,
President of the Manicouagan Chamber of Commerce, will replace her
within the monitoring committee.
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 five
decades of experience in graphite production, sales, and research
and development. For more information, visit
www.masongraphite.com.
Consent of the Qualified
Person
Jean L'Heureux, 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 the audit of data presented in this press release and read and
approved it.
Source :Ana Rodrigues,
Executive AssistantPhone : +1 514 289
3580Email : info@masongraphite.com Head Office : 3030,
boulevard Le Carrefour, bureau 600, Laval, Québec, Canada, H7T
2P5
Cautionary Statements
This press release contains "forward-looking
information" within the meaning of Canadian securities legislation.
All information contained herein that is not clearly historical in
nature may constitute forward-looking information. 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; (x) 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 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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