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Detailed Engineering Plan For Opening Mine

Detailed Engineering Plan For Opening Mine

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Published by Richard J Mowat
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Categories:Types, Business/Law
Published by: Richard J Mowat on Feb 16, 2013
Copyright:Attribution Non-commercial

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10/25/2013

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NorthernGraphiteAwardsDetailedEngineeringandDesignContractforBissettCreek
CompanyimplementsfirstphaseofbankableFeasibilityStudy
January18,2013
–NorthernGraphiteCorporation
(NGC:TSX-V,NGPHF:OTCQX)
ispleasedtoannouncethatfollowingacompetitivebiddingprocessinvolvingfiveengineeringfirms,ithasawardeda$3.5millioncontractforthedetailedengineeringanddesignoftheBissettCreekgraphiteprojecttoPES-BECMA.PES-BECMA,a jointeffortbetweenPorcupineEngineeringServicesInc.andBECMALtd.,willberesponsibleforthefrontendengineeringanddesign(“FEED”)ofthe2,500tonneperdayprocessingfacility,andrelatedinfrastructure,thatwillproduceapproximately20,000tonnesoflargeflake,highpuritygraphiteperyear.GregoryBowes,ChiefExecutiveOfficer,commentedthat:“WeareverypleasedtobeinitiatingtheFEEDprocesswhichisthefirststepinimplementingthebankablefeasibilitystudy(“FS”).Itenablesustocontinueadvancingandde-riskingtheprojectwhilemaintainingthetimelinetoproduction,andtosolidifyourleadingpositionintheindustry.WhilethegraphitemarkethassoftenedinlinewithslowergrowthinChinaandweakeconomiesintheUSandEurope,theCompanywellpositionedtobenefitfromarecoverywiththecommencementofproductionscheduledforlate2014”.Thedetailedengineeringanddesignphaseisexpectedtotakesevenmonthstocompleteandcost$3.5million.Itispartoftheestimatedcapitalcostsfortheprojectof$102.9million(includinga$9.4millioncontingency).TheworkwillbefinancedoutoftheCompany’scurrentcashposition.
NorthernGraphiteCorporation
NorthernGraphiteCorporationisaCanadiancompanythathasa100%interestintheBissettCreekgraphitedepositlocatedineasternOntario.NorthernGraphiteiswellpositionedtobenefitfromthecompellingsupply/demanddynamicthathasdevelopedinthegraphiteindustrywithahighpurity,largeflake,scalabledepositthatislocatedclosetoinfrastructure.Permittingforconstructionisexpectedtobecompletedinthefirstquarterof2013.AdditionalinformationonNorthernGraphiteCorporationcanbefoundundertheCompany’sprofileonSEDARatwww.sedar.comandontheCompany’swebsiteatwww.northerngraphite.com.
PorcupineEngineeringServicesInc.
PorcupineEngineeringServicesInc.(“PES”)isamulti-disciplinedengineeringfirm(mechanical,structural,electricalandinstrumentation)specializinginengineeringanddesignworkfortheminingandmineralprocessingindustry.PESismadeupofdisciplinedengineeringresourcesthatareaccustomedtosupportingmineralprocessingclientsfromfeasibilitytothedetailedengineeringlevelandthroughtoconstruction.PESrecentlycompleteddetailedengineeringanddesignworkwithrespecttoa$100millionmillupgradeforaCanadiangoldminer,andalsoparticipatedinandsupportedprocurementandconstructionmanagementfortheproject.AdditionalinformationcanbefoundontheCompany’swebsiteatwww.pes-inc.ca.
BECMALtd.
BECMALtd.isawell-establishedCanadianengineeringcompanyspecializinginmaterialhandlingsystemsinthemetallurgicalandminingfieldsandhaspastandongoingEPCMexperienceinthegraphiteindustry.DonBaxter,P.Eng,PresidentoftheCompanyanda“QualifiedPerson”under43-101,isresponsibleforandhasreviewedandapprovedthetechnicalcontentofthispressrelease.

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