Mr. Ugo Landry-Tolszczuk reports
SRG GRAPHITE AMENDS ITS NI 43-101 PRELIMINARY ECONOMIC ASSESSMENT REPORT FOR LOLA GRAPHITE DEPOSIT
SRG Graphite Inc. is reissuing its National Instrument 43-101 preliminary economic assessment study (PEA) for the development of its Lola graphite project in the Republic of Guinea, West Africa.
The cut-off grade for the base case at Section 14 of the original NI 43-101 PEA has been modified to 1.64 per cent from 3 per cent to be consistent with the rest of the document's data. This change has no impact whatsoever on any of the numbers or figures provided in the original PEA, including preliminary economic figures or results.
Also Sivanesan (Desmond) Subramani, principal consultant at Caracle Creek International Consulting MINRES (Pty.) Ltd. (CCIC MinRes), an independent qualified person, has confirmed the work of Dr. Marc-Antoine Audet, PGeo, SRG's lead geologist, and taken responsibility for those sections of the original NI 43-101 PEA for which Dr. Audet was responsible. Mr. Subramani has rigorously verified the resource model and reapproved the resource estimate without material changes.
Highlights of the Lola graphite PEA:
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Production of 50,200 tonnes of graphite concentrate per year over a 16-year mine life;
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Capital costs of $105-million, including contingency of $15-million;
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Operational costs of $372 per tonne of concentrate and $130/t of transport;
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Pretax net present value (8 per cent) of $204-million (posttax NPV (8 per cent) of $121-million) at an average sales price of $1,328/t;
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Finished grade of over 94 per cent and up to 98 per cent over all size fractions;
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Strip ratio of 0.39;
- The amended NI 43-101 technical report is available on SRG's website and on SEDAR.
About SRG
Graphite Inc.
SRG is a Canadian-based company focused on developing the Lola graphite deposit and the Gogota cobalt-nickel-scandium deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally and ethically responsible manner.
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