Key Target Reached for Electric Vehicle Application
December 15 2020 - 8:00AM
Mason Graphite inc. ("Mason Graphite" or the
“Company") (TSX.V: LLG; OTCQX: MGPHF) is pleased to announce that
testing of prototype Li-ion batteries containing its coated
spherical graphite have reached the critical target of 500 cycles
of charge / discharge, while maintaining 85% of the original
capacity, which is better than the typical requirements of 80%.
These tests were performed in the NRC
laboratories, on samples produced at the pilot scale in the
installations of COREM and of the Company. See Press Release dated
December 3, 2020 for the technical details.
Gilles Gingras, Chair of the Board of Directors,
commented: “This is a key milestone. As far as we know, no other
graphite project in North America has reached this threshold, which
once again demonstrates the lead Mason Graphite holds in the
market. Encouraged by this success, we continue to work tirelessly
on improving the performance of our products and processes.”
Cycling tests continue on the same batteries at
the NRC laboratories to evaluate their full life expectancy.
Building a solid Mason
Graphite
The Mason Graphite Board and Management have
taken several steps to ensure the Company is able to take on a
leadership position in the graphite mining and transformation
sector for the benefit of all its stakeholders, including the
shareholders and its neighboring communities in Québec.
So, while the current natural graphite market is
in an over-supply situation in the world, and has been for the past
12-18 months, the Company has been putting in place key building
blocks to make its fully integrated mining and Value-Added Product
operation vision happen, which it believes will be far more
profitable for shareholders in the medium to long term.
Here are some of the building blocks and/or key
actions taken:
- A technical and
economic study on a complete value-added product plant (second
transformation), fed by the “Lac Guéret concentrate”, was completed
at the beginning of 2020. The results of the study are positive.
But since the first transformation project (mine and concentrator)
was put on hold for financing reasons, parts of this study will be
used for a follow-on study on the new diversified value-added
products project.
- Tests were
conducted (over several months) to optimize the purification
process and demonstrate the technical feasibility of reagents and
water recycling, thus confirming the low environmental footprint of
the process.
- As well,
potential sources of uncoated spherical graphite were identified
and contacted, samples were acquired, received and characterized,
and are currently undergoing coating testing. Cycling tests are
planned at the end of the coating trials.
- Optimization
work continues on the coating process developed by the Company (and
demonstrated at pilot scale) to further improve yield, improve
product quality and to adapt the process to uncoated spherical
graphite coming from external sources.
- To counter the
very long homologation periods associated with coated spherical
graphite in Li-ion battery applications (and therefore possibly
long delays), the Company has broadened its value-added products
development strategy by diversifying the products it intends to
make, giving it access to other markets and applications, which are
easier to enter. The development of this improved strategy included
a high-level review of the potential markets and applications,
their sizes, the ease of entry (homologation times), the potential
customers and the expected profitability. With the help of a
strategic partner of the Company, a conceptual technical and
economic study to that effect was recently started and is advancing
well.
About Mason Graphite
Mason Graphite is a Canadian corporation
dedicated to the production and transformation of natural graphite.
Its strategy includes the development of value-added products,
notably for green technologies like transport electrification. The
Company also owns 100% of the rights to the Lac Guéret graphite
deposit, one of the richest in the world. The Company is managed by
an experienced team cumulating many decades of experience in
graphite, covering production, sales, as well as research and
development.
For more
information: www.masongraphite.com
Mason Graphite Inc.Ana Rodrigues
at info@masongraphite.com or 1 514 289-3580Head Office:
3030, boulevard Le Carrefour, suite 600, Laval, Quebec, 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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