HPQ Provides Corporate Update
April 25, 2017 (Source) — HPQ Silicon Resources Inc (“HPQ”) (TSX VENTURE:HPQ)(FRANKFURT:UGE)(OTC PINK:URAGF) would like to inform its shareholders of the following significant advances in its Purevap™ project with strategic partner PyroGenesis Canada Inc (“PyroGenesis”).
- Work is now transitioning from bench scale testing to Pilot Plant, as PyroGenesis approaches completion of phase 1 of the Process Characterization phase. Bench scale testing will continue and overlap with the start of equipment purchase and assembly of the Pilot Plant. The purpose of the Process Characterization bench scale work is threefold:
- Determine the best and most efficient way to scale up the PUREVAP™ QRR process
- Generate the necessary data required for the design of the 200 Tonnes Per Year High Purity to Solar Grade Silicon Metal pilot-scale system announced on August 2nd 2016;
- Complete tests at different operational settings to identify the best and most efficient way to produce High Purity to Solar Grade Silicon Metal.
- Payments totalling $1,072,000 were made in two tranches to Pyrogenesis in February and March to continue the work on the design and fabrication of the PureVap™ pilot plant equipment. Since August 2016, HPQ as invested $2,925,200 for the pilot equipment.
- PyroGenesis has continued testing modifications to the process to include upgrading the Bench scale testing Plant process from batch to semi – batch processing to test for improve efficiencies.
- The previously announced bench scale testing for 5N purity will commence shortly. HPQ has carefully prepared batches of 99.5% SiO2 derived from its Roncevaux quartz property, selected and sorted using XRF scanning, manually crushed and has now been delivered to PYR. Once completed, a report on the purity testing, as mentioned in January (press release January 29,2017) will be finalized.
- Project work remains on time and on budget, equipment procurement phase for the Pilot Plant has begun, all payments are up to date, and after May payment of $531,000, the next substantial payment will only be due in October to coincide with the delivery of the Pilot Plant furnace. Discussions with government agencies regarding other sources of financing are ongoing.
Bernard Tourillon, Chairman and CEO of HPQ-Silicon stated, “We continue to make positive progress with the PureVap™ process and are now setting our sights on final bench scale purity tests and the Pilot Plant. The bench scale test work has achieved most of our goals and we will report on details in each area described above as results become available. I would like to take this opportunity to thank everyone for their kind words, condolences and support during this difficult personal period.”
Get our daily investorintel update
About HPQ Silicon
HPQ Silicon Resources Inc is a TSX-V listed junior exploration company planning to become a vertically integrated and diversified High Value Silicon Metal (99.9+% Si), and Solar Grade Silicon Metal (99.999+% Si) producer.
Our business model is focused on developing a disruptive High Purity and Solar Grade Silicon Metal manufacturing process (patent pending) and becoming a vertically – integrated High Value Silicon Metal and Solar Grade Silicon producer that can generate high yield returns and significant free cash flow within a relatively short time line.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
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.
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.