- Preliminary economic assessment of the Uatnan Mining Project
demonstrates attractive economics for a targeted production of
approximately 500,000 tonnes of graphite concentrate per annum over
a 24-year life of mine, making it one of the World's largest
graphite projects in development.
- The Uatnan Mining Project covers Mason Graphite's Lac Guéret
graphite deposit located in Québec, Canada.
- Results indicate an after-tax IRR of 25.9% and an 8% discount
rate NPV of C$ 2,173 million based on
current pricing projections for flake concentrate.
- The Uatnan Mining Project supports NMG's Phase-3 expansion
plans with updated operational parameters and production volumes in
line with the Company's commercial discussions with OEMs and
lithium-ion battery cell makers.
- NMG has extended its vision of responsible mining to the Uatnan
Mining Project, including transition plans for all-electric
operations, advanced environmental management and proactive First
Nation and community engagement, to provide battery and EV
manufacturers with responsibly extracted, environmentally
transformed, and locally sourced graphite-based solutions.
- Shareholders and analysts are invited to attend an Investor
Briefing today at 10:30 a.m. ET
hosted by NMG's Management Team via webcast:
https://us06web.zoom.us/webinar/register/WN_PQUZCrddQuWmw0UUMersow
MONTRÉAL, Jan. 10,
2023 /CNW/ - Mason Graphite Inc. (TSX.V : LLG)
(OTCQX : MGPHF) reports: Nouveau Monde Graphite Inc. ("NMG" or
the "Company") (NYSE: NMG, TSX.V: NOU) in collaboration with Mason
Graphite Inc. ("Mason Graphite") releases the results of a
preliminary economic assessment ("PEA"), according to National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI
43-101"), for a new project covering Mason Graphite's Lac Guéret
graphite deposit, the Uatnan mining project (the "Uatnan Mining
Project") located in Québec, Canada.
The PEA, conducted by engineering firms BBA Inc. ("BBA") and
GoldMinds Geoservices Inc. ("GMG"), shows strong economics for
NMG's updated operational parameters and production volumes
targeting the production of approximately 500,000 tonnes of
graphite concentrate per annum over a 24-year life of mine ("LOM").
The proposed Uatnan Mining Project is currently one of the largest
projected natural graphite productions in the world as battery and
electric vehicle ("EV") manufacturers seek local alternatives for
sourcing their graphite-based solutions amidst growing demand and a
projected structural deficit of production as of this year as
supported by Benchmark Mineral Intelligence (December 2022).
Arne H Frandsen, Chair of NMG, declared: "NMG's vision is to
become North America's most
important producer of battery grade graphite. The Uatnan
Mining Project aligns with our vision of progressive, integrated
growth that caters to the market's requirements for high-quality
graphite materials, local supplies, ESG-driven development, and
large volumes to meet EV production levels. Building on our
Matawine graphite operation's successes, I am confident that our
extended technical team's expertise will enable us to develop what
is projected to become one of the world's largest graphite
mines."
Eric Desaulniers, Founder,
President and CEO of NMG, added: "While the core of NMG's
technical team is extremely focused on developing and advancing our
Phase-2 Matawinie Mine and Bécancour Battery Material projects, it
has become increasingly important for our customers and strategic
for our shareholders to accelerate the deployment of our Phase 3.
It is our intention to capture as much market share as possible
during this historical period of growth of lithium-ion battery
manufacturing in North America and
Europe. I am eager to work with
the Innu First Nation of Pessamit and stakeholders from the
Manicouagan region to revive the mining development of this
world-class deposit. The PEA confirms the tremendous potential of
the Uatnan Mining Project as a lever of decarbonization for
cleantech markets and socioeconomic growth for local communities.
We will leverage our existing Phase-1 facilities, the environmental
stewardship measures being developed for our Phase-2 operations,
our proprietary technologies, and our demonstrated ESG credentials
to advance the Uatnan Mining Project toward
development."
PEA Results: Uncovering the Potential of the Uatnan Mining
Project
NMG and its consultants revisited all components of Mason
Graphite's original mining project to align the development of the
Lac Guéret graphite deposit with today's market opportunity and
potential customers' requirements. The most recent technical report
from Mason Graphite (SEDAR, Feasibility study update of the Lac
Guéret Graphite Project issued on December
11, 2018) planned for a production of 51,900 tonnes of
graphite concentrate per annum, with the concentrator and tailings
storage facility located offsite in the town of Baie-Comeau, approximately 285 km to the south
by road from the mining operations.
The PEA optimizes the Mineral Resources and aims to expand the
original mining project tenfold by targeting the production of
approximately 500,000 tonnes of graphite concentrate per annum,
entirely destined for the anode material manufacturing market. The
concentrator has been relocated to be near the deposit with
electrical needs that could be sourced from the Manic-5
hydroelectric power station, located 70 km away.
In line with NMG's responsible mining approach, plans include
progressive site closure with backfilling of the pit with waste
rock as much as possible. Additional characterization of waste rock
and tailings will be included in the next engineering phase to
select proper tailings and waste rock management technologies.
Existing baseline studies will be updated based on the study area
to identify any environmental issues, evaluate potential impacts
and develop alternatives for the Uatnan Mining Project.
Commercial parameters were set using current projections of
pricing prepared by a third-party expert for flake concentrate.
Design of the Uatnan Mining Project has been tailored to the needs
of the battery and EV market, orienting production volumes for
beneficiation in order to produce active anode material. Natural
flake graphite is expected to enter a structural deficit as of 2023
due to the continued growth of lithium-ion battery manufacturing,
outpacing supply capacity from graphite producers (Benchmark
Mineral Intelligence, December 2022).
Hence, market perspectives and NMG's active commercial discussions
indicate favorable conditions for commercializing the Uatnan Mining
Project production.
The following lists the economic highlights and operational
parameters developed in the PEA. Graphite is expressed in graphitic
carbon ("Cg"):
Table 1: Operational Parameters of the Uatnan Mining Project
OPERATIONAL
PARAMETERS
|
|
LOM
|
24 years
|
Nominal annual
processing rate
|
3.4 M tonnes
|
Stripping ratio
(LOM)
|
1.3:1
|
Average grade
(LOM)
|
17.5% Cg
|
Average graphite
recovery
|
85 %
|
Average annual graphite
concentrate production (LOM)
|
500,000
tonnes
|
Finished product
purity
|
94% Cg
|
|
Cautionary Note: The
PEA is preliminary in nature and includes Inferred Mineral
Resources, considered too speculative geologically to have the
economic considerations applied to them that would enable them to
be categorized as Mineral Reserves, and there is no certainty that
the PEA will be realized. Mineral resources that are not mineral
reserves have not demonstrated economic viability. Additional
trenching and/or drilling will be required to convert inferred
mineral resources to indicated or measured mineral resources. There
is no certainty that the resources development, production, and
economic forecasts on which this PEA is based will be
realized.
|
Table 2: Economic Highlights of the Uatnan Mining Project
ECONOMIC
HIGHLIGHTS
|
Uatnan Mining
Project
|
Pre-tax NPV (8%
discount rate)
|
C$ 3,613 M
|
After-tax NPV (8 %
discount rate)
|
C$ 2,173 M
|
Pre-tax IRR
|
32.6 %
|
After-tax
IRR
|
25.9 %
|
Pre-tax
payback
|
2.8 years
|
After-tax
payback
|
3.2 years
|
Initial
CAPEX
|
C$ 1,417 M
|
Sustaining
CAPEX
|
C$ 147
M
|
LOM OPEX
|
C$ 3,236
M
|
Annual OPEX
|
C$ 135 M
|
OPEX per tonne of
graphite concentrate
|
C$ 268/tonne
|
Concentrate selling
price
|
US$
1,100/tonne
|
|
All costs are in
Canadian dollars with the exception of the graphite sale price
which is provided in US dollars.
|
Capital expenditure ("CAPEX") and operational expenditure ("OPEX")
were established from test work results, supplier quotations and
consultant in-house databases. Estimates currently being at the
market's peak as influenced by inflationary trends, NMG, Mason
Graphite and their consulting firms have refined design,
engineering, and construction parameters to enable cost
optimization and competitive pricing. Québec's affordable clean
hydropower underpins the Uatnan Mining Project's economic structure
and supports NMG's undeterred carbon-neutrality commitment.
Considering the significant modifications to Mason Graphite's
original project, NMG initiated a name change with the
collaboration of the Innu First Nation of Pessamit. The deposit is
located on the Nitassinan, the Innu of Pessamit's ancestral
territory, in a sector referred to as Ka uatshinakanishkat meaning
"where there is Tamarack". Hence, the name Uatnan meaning Tamarack,
a conifer prominent in the area, was chosen to identify the
property and project. The graphite deposit identified on the
property is still referred to as the Lac Guéret deposit.
Initial modelling indicates that the Uatnan Mining Project would
create approximately 300 direct jobs.
The Property
The Uatnan property presently consists of 74 map-designated
claims totalling 3,999.52 hectares ("ha"), wholly owned (100%) by
Mason Graphite. The Uatnan Mining Project lies within Nitassinan,
the Innu of Pessamit's ancestral territory and the
Rivière-aux-Outardes municipality located in the Côte-Nord
administrative region, Québec, Canada, approximately 220 km as the crow
flies, north northwest of the closest community, the town of
Baie-Comeau. The Uatnan Mining
Project is accessible by road 389 and then by following Class 1
forestry roads.
Exploration work on the Uatnan property targeted graphite
mineralization and consists to date of airborne geophysics,
prospecting, ground geophysics, trenching/channel sampling and core
drilling. Bulk surface samples and core samples were also collected
for metallurgical and geomechanical tests. Exploration work
uncovered significant crystalline flake graphite mineralization,
ultimately leading to the identification of Mineral Resources and
Mineral Reserves (see Mason Graphite's press release dated
November 9, 2015). Due to significant
changes to the project scope, as mentioned above, it was decided
that the Uatnan Mining Project would revert to a Preliminary
Economic Assessment level.
On May 15, 2022, NMG concluded an
investment to explore the potential development of the Lac Guéret
graphite property (now the Uatnan Property). This agreement
aligns with NMG's growth strategy with a view to establishing a
large, scalable, and fully vertically integrated natural graphite
production, from ore to battery materials, at the western markets'
doorstep.
Mineral Resources
Current Mineral Resources (Table 3) have been estimated for the
Uatnan property based on 25,956 assay intervals collected from
43,343.1 m of core drilling and 4
surface trenches providing 207 channel samples totalling
721.7 m. Proper quality control
measures, including the insertion of duplicate, blank and standard
samples, were used throughout the exploration programs and returned
within acceptable limits. Although parameters to determine
reasonable prospects for eventual economic extraction (RPEE) were
updated (Table 4), there are no significant changes between the
current Mineral Resources and the Mineral Resources last published
on November 9, 2015.
Table 3: Current Pit-Constrained Mineral Resource Estimate
IN-PIT CONSTRAINED
MINERAL RESOURCES
|
Tonnes
(Mt)
|
Grade (%
Cg)
|
Cg
(Mt)
|
Measured 5.75% < Cg
< 25%
|
15.65
|
15.2
|
2.38
|
Measured Cg >
25%
|
3.35
|
30.6
|
1.02
|
Total
Measured
|
19.02
|
17.9
|
3.40
|
Indicated 5.75% < Cg
< 25%
|
40.29
|
14.6
|
5.89
|
Indicated Cg >
25%
|
6.33
|
31.6
|
2.00
|
Total
Indicated
|
46.62
|
16.9
|
7.89
|
Indicated + Measured
5.75% < Cg < 25%
|
55.94
|
14.8
|
8.27
|
Indicated + Measured Cg
> 25%
|
9.70
|
31.2
|
3.03
|
Total Measured +
Indicated
|
65.64
|
17.2
|
11.30
|
Inferred 5.75% <
Cg < 25%
|
15.35
|
14.9
|
2.28
|
Inferred Cg >
25%
|
2.47
|
31.8
|
0.79
|
Total
Inferred
|
17.82
|
17.2
|
3.07
|
|
Notes :
|
1.
|
The Mineral Resources
provided in this table were estimated by M. Rachidi P.Geo., and C.
Duplessis, Eng., (QPs) of GoldMinds Geoservices Inc., using current
Canadian Institute of Mining, Metallurgy and Petroleum (CIM)
Standards on Mineral Resources and Reserves, Definitions and
Guidelines.
|
2.
|
Mineral Resources which
are not Mineral Reserves do not have demonstrated economic
viability. The estimate of Mineral Resources may be materially
affected by environmental, permitting, legal, title, market or
other relevant issues. The quantity and grade of reported Inferred
Mineral Resources are uncertain in nature and there has not been
sufficient work to define these Inferred Mineral Resources as
indicated or Measured Mineral Resources. There is no certainty that
any part of a Mineral Resource will ever be converted into Mineral
Reserves.
|
3.
|
The Mineral Resources
presented here were estimated with a block size of 3mE x 3mN x 3mZ.
The blocks were interpolated from equal-length composites (3 m)
calculated from the mineralized intervals.
|
4.
|
The Mineral Resource
estimate was completed using the inverse distance to the square
methodology utilizing three runs. For run 1, the number of
composites was limited to ten with a maximum of two composites from
the same drillhole. For runs two and three the number of composites
was limited to ten with a maximum of one composite from the same
drillhole.
|
5.
|
The Measured Mineral
Resources classified using a minimum of four drillholes. Indicated
resources classified using a minimum of two drillholes. The
Inferred Mineral Resources were classified by a minimum of one
drillholes.
|
6.
|
Tonnage estimates are
based on a fixed density of 2.9 t/m3.
|
7.
|
A pit shell to
constrain the Mineral Resources was developed using the parameters
presented in Table 4. The effective date of the current Mineral
Resources is January 10, 2023.
|
8.
|
Mineral Resources are
stated at a cut-off grade of 5.75% C(g).
|
Table 4: Parameters used to develop the pit shell to constrain the
Mineral Resources
PARAMETERS
|
Value
|
Mining cost
|
C$ 4.00/t mined
|
Processing
cost
|
C$ 36.00/t milled
|
Tailings management
cost
|
C$ 2.00/t milled
|
G&A cost
|
C$ 5.00/t milled
|
Mill
recovery
|
85 %
|
Concentrate
grade
|
94 %
|
Concentrate
price
|
C$ 1,500 /t
|
Production
rate
|
3.4 Mtpa
|
Overall pit
slope
|
50 %
|
Mining
The mining method selected for the Uatnan Mining Project is a
conventional open pit, truck and shovel, drill, and blast
operation. Topsoil and overburden would be stripped and stockpiled
for future reclamation use. The mineralization and waste rock would
be mined with 9-m high benches, drilled, blasted, and loaded into
60-tonne rigid-frame haul trucks with backhoe excavators.
To minimize the environmental footprint of the Uatnan Mining
Project, waste rock would be hauled to the tailings storage
facility where it would be disposed of with the tailings. As of
year 5 of operations, waste rock would be backfilled into the
mined-out open pit when possible. The following table presents the
subset of Mineral Resources within the pit design for the PEA.
Table 5: Subset of Mineral Resources within the Pit Design for
the PEA
DESCRIPTION
|
Tonnes
(Mt)
|
Cg
Grade
(%)
|
In-Situ Graphite
(Mt)
|
Measured resources
|
18.7
|
17.9
|
3.3
|
Indicated resources
|
43.5
|
17.1
|
7.4
|
Total
M&I resources
|
62.2
|
17.3
|
10.8
|
Inferred resources
|
14.2
|
18.0
|
2.6
|
Overburden & waste
rock
|
102.6
|
|
|
The mine would be operated by an owner fleet, seven days per week,
24 hours per day and be comprised of a four–crew system working on
a two-week in, two-week out rotation. NMG intends to deploy a
zero-emission operating strategy with a battery-powered fleet of
haul trucks and electric equipment as the technology becomes
available. In the meantime, the PEA used a base case with a
diesel-operated fleet.
Processing & Recovery
The process flow sheet was developed using the same
metallurgical basis used for Mason Graphite's updated Feasibility
Study issued on December 11, 2018.
The main difference between the two flowsheets, apart from the
increased plant capacity, is the intended end-use of the material.
Given that 100% of the graphite concentrate produced from the
Uatnan Mining Project is destined for the battery market,
preserving flake sizes is no longer considered in the processing
route. Given this consideration, the flowsheet was simplified by
reducing the number of both polishing and cleaner flotation stages
from four to two. This change minimizes the number of grinding
mills and flotation cells required, reducing both the capital and
operating costs for the Uatnan Mining Project.
The flowsheet consists of a mineral sizer to reduce the size of
the run of mine ("ROM") mineral before it is fed to a SAG mill for
primary grinding. The ground mineral then undergoes rougher
flotation, after which the reground and scavenged concentrate is
combined with the rougher concentrate for further processing. The
concentrate then undergoes two additional stages of regrinding,
first in a ball mill ahead of the first cleaning step, then a
second regrind in a tower mill ahead of secondary cleaning. The
resulting concentrate undergoes a final deliming stage to remove
low-grade minus 20-micron particles to maximize the final
concentrate grade. The concentrator tailings are filtered and
delivered to the tailings storage facility. The concentrate is
filtered and dried before being trucked 285 km to Baie-Comeau for transport to market.
Economic Evaluation
The CAPEX, summarized below, covers the development of the mine,
processing facilities, and infrastructure required for the Uatnan
Mining Project. It is based on the application of standard costing
methods of achieving a PEA which provides the accuracy of -30% to
+50%. The operating cost covers mining, processing, concentrate
haulage, tailings and water management, general and administration
fees, as well as infrastructure and services.
Table 6: Summary of Uatnan Mining Project CAPEX Costs
SECTOR
|
LOM CAPEX
($M)
|
Mining
|
61
|
Site
infrastructure
|
55
|
Offsite
infrastructure
|
184
|
Water treatment and
tailings
|
118
|
Ore crushing and
process plant
|
548
|
Indirect
|
319
|
Contingency
|
279
|
TOTAL
CAPEX
|
1,564
|
Initial
CAPEX
|
1,417
|
Sustaining
CAPEX
|
147
|
Table 7: Summary of Main Uatnan Mining Project OPEX Costs
SECTOR
|
LOM OPEX Cost
($M)
|
C$/t
Conc.
|
Mining and
tailings
|
917
|
76
|
Processing
|
1,620
|
134
|
Water management
|
134
|
11
|
G&A
|
565
|
47
|
TOTAL
|
3,236
|
268
|
Next Steps and Quality Assurance
The PEA shows that the Uatnan Mining Project is technically
feasible as well as economically viable. It further strengthens
NMG's active commercial discussions and the Company's plans for
growth through a Phase-3 expansion.
On the basis of these positive results, NMG intends to launch an
updated feasibility study in compliance with the option and joint
venture agreement signed with Mason Graphite. The Uatnan Mining
Project will have to go through the process of the Government of
Québec's Environment Quality Act with the objective of obtaining a
ministerial decree.
NMG is committed to extending its approach of open and proactive
engagement with Indigenous Peoples and local stakeholders to the
Uatnan Mining Project. The Company plans to maintain a transparent
dialogue with the Innu First Nation of Pessamit as it advances the
project development to ensure the respect of their rights, the
protection of the environment, their culture, way of life and
spirituality, as well as the inclusion of their perspective, and
traditional knowledge. NMG also pledges to expand its relationships
with stakeholders from all horizons to foster mechanisms for
collaboration and shape a project generating shared value.
Shareholders and analysts are invited to attend a webcast
Investor Briefing this morning, Tuesday,
January 10, 2023, at 10:30 a.m.
ET. Hosted by President and CEO Eric
Desaulniers with the participation of NMG's Management Team,
the briefing will entail a technical presentation followed by a
question-and-answer session. Registration should be completed prior
to the start of the briefing
at: https://us06web.zoom.us/webinar/register/WN_PQUZCrddQuWmw0UUMersow.
There is no certainty that the economic forecasts on which this
PEA is based will be realized. The PEA is preliminary in nature and
includes Inferred Mineral Resources that are considered too
speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as Mineral
Reserves, and there is no certainty that the PEA will be realized.
Mineral Resources that are not Mineral Reserves have not
demonstrated economic viability. Additional trenching and/or
drilling will be required to convert Inferred Mineral Resources to
Indicated or Measured Mineral Resources. There is no certainty that
the resources development, production, and economic forecasts on
which this PEA is based will be realized. There are a number of
risks and uncertainties identifiable to any new project and usually
cover the mineralization, mineral processing, financial,
environmental and permitting aspects. NMG's Phase-3 is no
different, and an evaluation of the possible risks was undertaken
as part of the PEA.
Scientific and technical information presented in this press
release was reviewed and approved by André Allaire, P.Eng. (BBA),
Jeffrey Cassoff, P.Eng. (BBA),
Claude Duplessis (GoldMinds
Geoservices), and Merouane Rachidi,
P.Geo. (GoldMinds Geoservices) Qualified Persons as defined under
NI 43-101.
The PEA for the Uatnan Mining Project, prepared in accordance
with NI 43-101 guidelines, will be filed on SEDAR
at www.sedar.com, EDGAR at www.sec.gov and on the Company's
website at www.NMG.com within 45 days of this press release.
Readers are encouraged to read the PEA in its entirety, including
all qualifications, assumptions and exclusions that relate to the
details summarized in this press release. The PEA is intended to be
read as a whole, and sections should not be read or relied upon out
of context.
About Nouveau Monde Graphite
Nouveau Monde Graphite is striving to become a key contributor
to the sustainable energy revolution. The Company is working
towards developing a fully integrated source of carbon-neutral
battery anode material in Québec, Canada for the growing lithium-ion and fuel
cell markets. With low-cost operations and enviable ESG standards,
NMG aspires to become a strategic supplier to the world's leading
battery and automobile manufacturers, providing high-performing and
reliable advanced materials while promoting sustainability and
supply chain traceability. www.NMG.com
About Mason Graphite
Mason Graphite is a Canadian corporation focused on seeking
investment opportunities. Its strategy is to develop vertical and
horizontal integration in the mining industry, with a special focus
on industrial and specialty minerals, notably battery-related
materials and their by-products. Its strategy also includes the
development of value-added products, notably for green technologies
like transport electrification. The Company currently owns 100% of
the rights to the Lac Guéret deposit, one of the richest graphite
deposits in the world, which is under an Option and Joint Venture
Agreement with Nouveau Monde Graphite Inc. (TSX-V: NOU) (NYSE:
NMG). Mason Graphite is also the largest shareholder of Black Swan
Graphene Inc., a Canadian publicly traded company (TSX-V: SWAN)
(OTCQB: BSWGF) focusing on the large-scale production and
commercialization of patented high-performance and low-cost
graphene products aimed at several industrial sectors, including
concrete, polymers, Li-ion batteries and others.
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Cautionary Note
All statements, other than statements of historical fact,
contained in this press release including, but not limited to those
describing the impact of the foregoing on the Uatnan Mining Project
economics, PEA results (as such results are set out in the various
tables featured above, and are commented in the text of this press
release), including CAPEX, OPEX, NPV and IRR, the estimated value
of the Uatnan Mining Project, operations development scenarios for
the Uatnan Mining Project, commercial and technical parameters, the
attractive economics for the Uatnan Mining Project, LOM plans, the
Company's intended marketing strategy, , market trends, future
graphite prices, the impact of the Uatnan Mining Project on the
local communities, including job creation, the projected
annual production of the Company's Phase-3 operations, the
expected electrification strategy and its intended results and
benefits, the potential results and benefits of the Company's
proprietary technologies, the timelines and costs related to the
various initiatives, deliverables and milestones described in this
press release and their expected results, the Company's expected
financial and operational performance, the nature of relationships
with stakeholders such as the local community including the Innu
First Nation of Pessamit, future demand for batteries and EVs, the
objective of developing one of the largest fully integrated natural
graphite operations in the World, the production of carbon-neutral
anode material, Mineral Resource estimates (including assumptions
and estimates used in preparing the Mineral Resource estimates),
the general business and operational outlook of the Company, the
Company's future growth and business prospects, the Company's ESG
commitments, initiatives and goals, and those statements which are
discussed under the "About Nouveau Monde" paragraph and elsewhere
in the press release which essentially describe the Company's
outlook and objectives, constitute "forward-looking information" or
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of Canadian and United States securities laws, and are based
on expectations, estimates and projections as of the time of this
press release. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable by the Company as of the time of such
statements, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. These
estimates and assumptions may prove to be
incorrect. Moreover, these forward-looking statements
were based upon various underlying factors and assumptions,
including the current technological trends, the business
relationship between the Company and its stakeholders, the ability
to operate in a safe and effective manner, the timely
delivery and installation at estimated prices of the equipment
supporting the production, assumed sale prices for graphite
concentrate, the accuracy of any Mineral Resource estimates,
future currency exchange rates and interest rates, political and
regulatory stability, prices of commodity and production costs, the
receipt of governmental, regulatory and third party approvals,
licenses and permits on favorable terms, sustained labor stability,
stability in financial and capital markets, availability of
equipment and critical supplies, spare parts and consumables, the
various tax assumptions, CAPEX and OPEX estimates, the Uatnan
Mining Project permits' status, all economic and operational
projections relating to the project, local infrastructures,
the Company's business prospects and opportunities and estimates
of the operational performance of the equipment, and are not
guarantees of future performance.
Forward-looking statements are subject to known or unknown
risks and uncertainties that may cause actual results to differ
materially from those anticipated or implied in the forward-looking
statements. Risk factors that could cause actual results or events
to differ materially from current expectations include, among
others, those risks which are discussed under the "Next Steps and
Quality Assurance" paragraph, delays in the scheduled delivery
times of the equipment, the ability of the Company to successfully
implement its strategic initiatives and whether such strategic
initiatives will yield the expected benefits, the availability of
financing or financing on favorable terms for the Company, the
dependence on commodity prices, the impact of inflation on costs,
the risks of obtaining the necessary permits, the operating
performance of the Company's assets and businesses, competitive
factors in the graphite mining and production industry, changes in
laws and regulations affecting the Company's businesses, political
and social acceptability risk, environmental regulation risk,
currency and exchange rate risk, technological developments, the
impacts of the global COVID-19 pandemic and the governments'
responses thereto, and general economic conditions, as well as
earnings, capital expenditure, cash flow and capital structure
risks and general business risks. A further description of risks
and uncertainties can be found in NMG's Annual Information Form
dated March 22, 2022, including in
the section thereof captioned "Risk Factors", which is available on
SEDAR at www.sedar.com and on
EDGAR at www.sec.gov. Unpredictable or unknown
factors not discussed in this Cautionary Note could also have
material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or
indirectly affect, and could cause, actual results to differ
materially from those expressed or implied in any forward-looking
statements. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Forward-looking statements are provided for the purpose
of providing information about management's expectations and plans
relating to the future. The Company disclaims
any intention or obligation to update or revise any forward-looking
statements or to explain any material difference between subsequent
actual events and such forward-looking statements, except to the
extent required by applicable law.
The market and industry data contained in this press release
is based upon information from independent industry publications,
market research, analyst reports and surveys and other publicly
available sources. Although the Company believes these sources to
be generally reliable, market and industry data is subject to
interpretation and cannot be verified with complete certainty due
to limits on the availability and reliability of raw data, the
voluntary nature of the data-gathering process and other
limitations and uncertainties inherent in any survey. The Company
has not independently verified any of the data from third-party
sources referred to in this press release and accordingly, the
accuracy and completeness of such data is not
guaranteed.
Disclosures regarding Mineral Resource estimates included in
this press release were prepared in accordance with Canadian NI
43-101. The disclosures included in this press release use the
terms "Feasibility Study," "Mineral Resource," "Inferred Mineral
Resource," "Indicated Mineral Resource," "Measured Mineral
Resource," in connection with the presentation of resources, as
each of these terms is defined in accordance with the CIM
Definition Standards on Mineral Resources and Reserves adopted by
the CIM Council, as required by NI 43-101. Unless otherwise
indicated, all resource estimates included in this press release
have been prepared in accordance with the CIM Definition Standards,
as required by NI 43-101.
NI 43-101 is a rule developed by the Canadian Securities
Administrators that establish the Canadian standards for all public
disclosure an issuer makes of scientific and technical information
concerning mineral projects. These standards differ from the
requirements of the United Securities and Exchange Commission (the
"SEC"). Accordingly, mineral resource and reserve information
included in this press release may not be comparable to similar
information made public by United
States companies reporting pursuant to SEC reporting and
disclosure requirements.
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.
Further information regarding the Company is
available in the SEDAR database (www.sedar.com), and
for United States readers on EDGAR
(www.sec.gov), and on the
Company's website at:
www.NMG.com
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SOURCE Mason Graphite Inc.