Leading Edge Materials Receives Engineering Study for Battery Graphite Demonstration Plant at Woxna, Sweden
Leading Edge Materials Receives Engineering Study for Battery Graphite
Demonstration Plant at Woxna, Sweden
VANCOUVER
,
May 15, 2019
/CNW/ -
Leading Edge Materials Corp.
("
Leading Edge Materials
" or the "
Company
") (
TSXV: LEM
) (
OTCQB: LEMIF
) (
Nasdaq
First North: LEMSE
) is pleased to announce receipt of an engineering study (the "
Study
") for the installation and operation of a battery graphite demonstration
plant at the Woxna mine site in
Sweden
.
Figure 1: Flowsheet for proposed Battery Graphite Demonstration Plant at Woxna Mine Site with Potential End Markets (CNW Group/Leading Edge Materials)
The Study was undertaken by a leading global engineering firm, using data from the extensive purification and spheronisation test work completed by the
Company over past years (see press release dated 18
th
Jan 2019). The Study provides design, installation and cost estimate criteria for a spheronisation and
thermal purification process that can deliver approximately 100kg per day of high purity natural graphite anode suitable for lithium ion batteries (see flowsheet
Figure 1).
When installed, it is expected that the demonstration plant will deliver a substantial volume of natural graphite anode, enabling Woxna graphite to progress
towards battery customer qualification. The thermal purification process is designed with a high degree of flexibility. Recent test work by Leading Edge Materials
has produced ultra-high purity graphite up to 99.998% carbon and the process flexibility will allow purity to be tailored to customers performance and price
requirements. Spheronisation test work produced D50 size ranges from 15-25 micron with D10 ranges of 7-12 micron and D90 from 28-35 micron. These
ranges meet specifications provided by potential customers and are consistent with anode materials used by all current lithium ion battery manufacturers.
Technical information has been verified by Mr.
Mark Saxon
, Interim President and CEO of Leading Edge Materials and a Fellow of the Australasian Institute of
Mining Metallurgy, being a qualified person under National Instrument 43-101 including the sampling, analytical, and test data underlying the information or
opinions.
The demonstration plant is designed to deliver essential operating data, including energy requirements, cost, environmental and health and safety considerations
that can be incorporated into mine scale design. The demonstration plant costing incorporates equipment manufacturer quotations, and is designed to be installed
on the Leading Edge Materials Woxna mine site, where space, adequate power, skilled personnel and waste management facilities are already in place.
Furthermore, Leading Edge Materials has received written confirmation from the Gävleborg Länsstyrelsen ("County Administration Board") that based on the
engineered design, the demonstration will conform with current site permits.
Mark Saxon
, Interim President and CEO, stated "After the considerable time dedicated to graphite anode process development and optimization, we are very
pleased to have achieved this milestone for the Woxna graphite mine. As there is no natural graphite anode produced in
Europe
, we believe that installation of
the demonstration plant will make a very significant contribution to the security of the emerging European lithium ion battery supply chain."
Today, 100% of natural graphite anode is manufactured in
China
using chemical leaching which emits waste streams for treatment or disposal. In contrast, the
thermal purification process designed for the Woxna demonstration plant requires no chemicals, instead using elevated temperature to remove impurities. The
purification furnace at Woxna will be operated using cost competitive Swedish electrical power which is expected to result in a low carbon footprint.
Mr.
Mark Saxon
, Interim President and CEO of Leading Edge Materials and a Fellow of the Australasian Institute of Mining Metallurgy, being a qualified person
under National Instrument 43-101, has supervised the preparation and approved the contents of this release.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Mr.
Mark Saxon
, Interim CEO
About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on production of high value critical raw materials for the European market, with an operating base
in the Nordic region, a region well recognized for its promotion and investment in innovation. LEM's flagship asset is the Woxna Graphite production facility
located in central
Sweden
targeting the supply of specialty materials for lithium ion battery production.
Additional Information
The information was submitted for publication through the agency of the contact person set out above, at 15
th
May 2019
at
5:00 am
Vancouver
time.
Leading Edge Materials is listed on the TSXV under the symbol "LEM" and Nasdaq First North Stockholm under the symbol "LEMSE". Mangold Fondkommission
AB is the Company's Certified Adviser ("
CA
") on Nasdaq First North and may be contacted at +46 (0) 8 5030 1550.
Reader Advisory
This news release may contain
statements which constitute "
forward-looking information
", including statements regarding the plans, intentions, beliefs and
current expectations
of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would",
"could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions,
as
they relate to the Company, or its management, are
intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not
guarantees of future
business
activities and
involve risks
and
uncertainties
,
and that
the Company's future business activities
may
differ
materially from those
in the forward-looking
statements
as a result of various factors, including,
but not limited to,
fluctuations in market prices, successes of the operations of the Company, continued
availability of capital and financing and general economic, market or business
conditions
. There can be no assurances that such
information
will prove
accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume
any obligation to update any
forward-looking information except as required
under the applicable securities laws.
Woxna has never defined a mineral reserve and the previous preliminary economic assessment on Woxna dated
October 29, 2013
, has been superseded by
the Company's current technical report dated
May 11
, 2015. As the Woxna facility is not in production but remains on a production ready status, any future
decision to recommence mining at Woxna will not be based on a preliminary economic assessment demonstrating the potential viability of mineral resources or
feasibility study of mineral reserves demonstrating economic and technical viability. Under these circumstances, there is increased risk of technical and
economic failure for the Woxna project, and the Company discloses additional risk factors relating thereto. The Company advises that it has not based its
production decision on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased
uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a
commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will
begin as anticipated or at all or that anticipated production costs will be achieved. Failure to commence production would have a material adverse impact on
the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve any anticipated production costs would have a material adverse
impact on the Company's cash flow and future profitability. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this news release.
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For further information:
please contact the Company at: 1.604.685.9316, [email protected], www.leadingedgematerials.com
CO: Leading Edge Materials
CNW 08:00e 15-MAY-19