Canadian Metals Confirms the Reception of Hydro Quebec Exploratory Study
June 21, 2017 (Source) – Canadian Metals Inc. (The “Company”) (CSE:CME)(CSE:CME.CN)(CNSX:CME) confirms receipt of Hydro-Québec’s exploratory study for the power supply of its silicon alloy plant located in the Jean-Noel Tessier industrial park in Baie-Comeau. This study confirms the capacity of the network to connect the 120 MW power requirement of hydro-electricity for the production of silicon alloy. This study also confirms one of the essential premises that favored our choice of Baie-Comeau. The current network of substations and power lines at Baie-Comeau at the point of connection in the Baie-Comeau Industrial Harbor Zone is undoubtedly one of the most efficient and competitive in Quebec for high-energy projects such as the one of Canadian Metals.
In addition, the study confirms that the grid connection costs at Baie-Comeau are lower than those previously assessed in the preliminary economic study (PEA). This analysis of connection costs highlights the project’s performance gains for the current phase.
The Company has asked Hydro Québec to immediately begin a planning study to specify the scope of the work to be carried out for the connection and the associated costs. The study will also specify the connection option according to our particular reliability requirements.
The Company is in the process of providing a list of inputs to Hydro Québec to carry out the planning study.
About Canadian Metals
Canadian Metals is focused on the development of its Langis project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself as a supplier of high purity silica and silicon alloy in North America. Silicon based materials can be formulated to provide a broad range of products from more durable, faster building materials with smarter electronic devices, solar panels and more efficient wind turbines. We expect to become a global supplier for a number of industries and applications but without limitation: glass, ceramics, lighting, oil and gas, paint, plastic and rubber. We also want to become an integrated supplier to metallurgical industries including foundries, and participate in a wide range of civil, industrial, environmental and related applications. These target markets are an integral part of the lives of millions of people every day.
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Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions or results, including in connection with the pre-feasibility study, its financing, the hybrid flex project, job creation, the investments to complete the project and the potential performance, production and environmental footprint of the silicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Corporation’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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