SRG Graphite Files NI 43-101 Preliminary Economic Assessment Report for Lola Graphite Deposit
SRG Graphite Files NI 43-101 Preliminary
Economic Assessment Report for Lola
Graphite Deposit
MONTREAL
,
Aug. 3, 2018
/CNW Telbec/ -
SRG Graphite Inc.
(TSXV: SRG) ("SRG" or the
"Company") today announced that it has filed, on
August 2, 2018
, its National Instrument 43-101 ("NI
43-101") Preliminary Economic Assessment study ("PEA") for the development of its Lola graphite
project in the Republic of
Guinea
,
West Africa
, on SEDAR, as reported in its news release dated
July 10, 2018
.
Highlights of the Lola graphite PEA:
Production of 50,200 tons of graphite concentrate per year over a 16-year mine life
Capital costs of
$105 million
("M") including contingency of
$15M
Operational costs of
$372
/tonne ("t") of concentrate and
$130
/t of transport
Pre-tax NPV (8%) of
$204M
(post-tax NPV (8%) of
$121M
) at an average sales price of
$1,328
/t
Project pre-tax IRR of 35% and post-tax IRR of 25%
Finished grade of over 94% and up to 98% over all size fractions
Strip ratio of 0.39
The NI 43-101 PEA was prepared by Montréal-based Met-Chem, a division of DRA Americas Inc.
("Met-Chem/DRA"). All dollar figures are in
United States
dollars.
The Lola Graphite Project is under the direct supervision of Raphaël Beaudoin, P.Eng., Dr.
Marc-
Antoine Audet
, P.Geo, Ph.D (Geology) is the Qualified Person ("QP") as defined by National
Instrument 43-101.
The NI-43-101 Technical Report may be referenced on SRG's website at
www.srggraphite.com
and on SEDAR at
www.sedar.com
.
About Met-Chem/DRA
Met-Chem, a division of DRA Americas Inc., was originally established in 1969 as a consulting
engineering company, headquartered in
Montreal
, and provides a wide range of technical and
engineering services. Met-Chem is well recognized for its capabilities in mining, geology and mineral
processing and has a talented team of engineering, technical and project management personnel
with experience in
North America
,
Latin America
,
Europe
,
West Africa
and
India
. DRA is a
multidisciplinary global engineering group that originated in
South Africa
and delivers mining, mineral
processing, energy, water treatment and infrastructure services from concept to commissioning, as
well as comprehensive operations and maintenance services for the mineral resources, water,
agriculture and energy sectors. DRA has offices in
Africa
,
Australia
,
Canada
,
China
,
India
and
the
United States
.
ABOUT SRG
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.
For additional information, please visit SRG's website at
www.srggraphite.com
.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking 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, including references to the plans and project of the Company such as
proceeding with production at the Company's Lola Project, proceeding with exploration activities on
its permits including Lola and Gogota. Generally, such forward-looking information can be identified
by the use of forward-looking terminology and phrases or state that certain actions, events or results
"may", "could", "would" or "might". 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.
Forward-looking information is based on assumptions management believes to be reasonable at the
time such statements are made. 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. Accordingly, readers should not place undue reliance on forward-looking
information. Forward-looking information is given 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. Additional information on these and other factors that could affect SRG's
operations and financial results are included in reports on file with Canadian securities regulatory
authorities and may be accessed through the SEDAR website (
www.sedar.com
).
SOURCE
SRG Graphite
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http://www.newswire.ca/en/releases/archive/August2018/03/c5456.html
%SEDAR: 00008697E
For further information:
Ugo Landry-Tolszczuk, Tel: +1 (514) 679-4196, Email:
[email protected]; Benoit La Salle, FCPA FCA, Tel: +1 (514) 951-4411, Email:
CO: SRG Graphite
CNW 07:00e 03-AUG-18