Tailing Heaps of Graphite-Bearing Rock Anticipated to Contain High-Quality, Natural Flake Graphite
NEW YORK, NY and WINDHOEK, NAMIBIA -- (Marketwired) -- 07/09/14 -- Next Graphite, Inc. (OTCQB: GPNE) ("Next Graphite", or the "Company"), an exploration/development stage company in Africa's Republic of Namibia targeting the growing global graphite production industry and market demand, today announced the Company will initiate bulk screening and testing of its on-site, 180,000 ton tailing heaps of graphite-bearing rock.
The installation of the screening operation at the Aukam Farm has been tested and is ready for operation. Graphite-bearing rock from the Company's heaps will be screened starting on July 15. The screening is occurring under the Environmental Impact Assessment (EIA) currently being undertaken on the property. The oversized graphitic lump material and graphite fines will be tested for purity and deleterious elements, sorted and then retained on site in a stockpile for future processing. The setup, testing and use of the screening operation was completed one week ahead of schedule and is expected to screen and test 500 tons of material through August 30.
"This begins the important stage of our Phase II testing we recently announced," began Cliff Bream, Next Graphite's CEO. "While the initial results of our Phase 1 testing were encouraging, we will adhere to the highest standards in the market and continually evaluate the size and purity of the natural flake graphite on our property. Our goal is to deliver the highest quality natural flake graphite to the market our mine can produce," Mr. Bream concluded.
About Next Graphite, Inc.:
Next Graphite, Inc. is an exploration/development stage company targeting the growing global graphite production industry with the Company's 125,000-acre Africa-based Aukam Graphite Site. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia, produced USD$30 million of graphite at today's prices. The Graphite property is estimated to still contain a significant amount of high grade, vein type graphitic material. Global graphite demand is being driven by the development of new markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities. Next Graphite has an immediately available, surface-visible, estimated 180,000-ton tailing heap along with competitive projected mining and processing costs. The completion of GPNE's Aukam Graphite Mine re-launch and development activities is expected to result in a multi-million dollar inward investment into Namibia in 2014-2015.
For more information, please visit: www.nextgraphite.com
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next Graphite Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
CONTACT:
John Mattio
Investor Relations
+1 949 397-2522 ext. 3
ir@nextgraphite.com
Source: Next Graphite, Inc.