Big North Graphite Makes Fourth Graphite Sale in November and Expands Stockpile To Accommodate Future Sales
December 11, 2013 (Source: Accesswire) — BIG NORTH GRAPHITE CORP. (TSX-V: NRT) (the “Company” or “Big North”), announces that the Company sold 125 tons of amorphous graphite to a customer within Mexico in the month of November, with the graphite screened to a 3/4 minus product at the Company’s processing facility located in Sonora, Mexico. Further, the Company has now stockpiled over 500 tons of amorphous graphite in preparation for expanding its sales.
Big North President Spiro Kletas stated, “We are pleased to continue with sales of amorphous graphite from our project in Sonora, Mexico. Further, the Company is focused on putting ourselves in a position to grow production, enhance processing, grow sales and secure long-term off take partners. By growing our stockpile of available product, we believe that we will be better positioned to accomodate larger off take partners.”
Big North, through its Mexican subsidiary Grafito la Barranca SA de CV, holds a 100% interest in the Aki Wiki concession and has a 50/50 joint venture on the Nuevo San Pedro Project. Both concessions are located in the San Jose de Moradillas region, a region that has produced graphite for more than 100 years. San Jose de Moradillas is located approximately 45 kilometers southeast of the city of Hermosillo, Mexico.
About Big North Graphite Corp.
Big North is a graphite development and exploration company focused on select projects in Mexico and Canada. The Company acquired three past producing amorphous graphite mines in Sonora, Mexico and is working towards accelerating the restart of the Nuevo San Pedro amorphous graphite mine. Big North is currently in the test mining phase at Nuevo San Pedro. The Company completed its first sale of amorphous graphite in August of 2013.
Big North has started the assembly of a processing plant that will be used for crushing, screening, sizing and drying of graphite to the specifications of future customers. Further, the Company has commenced a strategy of buying unprocessed amorphous graphite from local miners who do not possess the ability to process or ship to end users. Big North also owns high priority, large flake graphite exploration projects in Ontario and Quebec, Canada.
Get our daily investorintel update
ON BEHALF OF THE BOARD
(signed) “Spiro Kletas”
President and Chief Executive Officer
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.
The Company has not established mineral resources and has not completed a valid mining study (as defined by NI 43-101) to support its production decision at the Nuevo San Pedro Mine. Historically, a production decision under these circumstances results in much higher economic or technical risk. Furthermore, without a pre-feasibility or feasibility study and a graphite reserve, there can be no assurance that operations at Nuevo San Pedro will be profitable.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>