First Shipment of 2,000 - 3,000 Tonnes Remains on Target for July 2016; Next Graphite Also Reports Fourth Quarter and Full Year 2015 Results
NEW YORK, NY and WINDHOEK, REPUBLIC OF NAMIBIA / ACCESSWIRE / May 4, 2016 / Next Graphite, Inc. (OTC PINK: GPNE) ("Next Graphite," "GPNE" or the "Company"), a graphite exploration/ development stage company in the African Republic of Namibia, is pleased to announce it has received formal Namibia ministry approval for renewal of its prospecting license. The Company has also announced its reported quarterly and full-year results for the period ending December 31, 2015.
Next Graphite has received notification from Namibia's Ministry of Mines and Energy for the renewal of its exclusive 'Prospecting Licence No: 3895' that covers the Aukam Graphite Deposit in southern Namibia. Notification was officially delivered to Gazania Investments 242 (PTY) Ltd ("Gazania"), the Namibian subsidiary of Next Graphite, Inc. The license has been renewed until March 13, 2017. Next Graphite will make an application for a Mining License prior to expiration of the Prospecting License.
Next Graphite's Prospecting License covers its 96,000-acre Aukam property including three existing adits and onsite heaps of graphite-bearing rock. Previous reports confirmed 95% of heap samples achieving 32% to 69% graphite content, with the highest sample recorded at 82% graphite.
The Company also filed its 2015 10-K report. Financials in the report reflect continued investment spending for our pre-revenue firm, including key pre-production activities and research findings, and the retirement of a convertible note.
"We were very pleased with the progress at our Aukam site in 2015," said Cliff Bream, CEO of Next Graphite. "Continuing engineering research documented the quality of our graphite and resulted in our attracting an experienced joint venture partner."
In releasing today's announcement, Bream added, "These 2015 results led to additional research at our Aukam site, a letter of intent for the sale of annual quantities of graphite, and now formal renewal of our Aukam license. We look forward to finalizing the farm-out agreement with our partner and beginning construction of our Aukam processing facility in 2016."
About Next Graphite, Inc.:
Next Graphite, Inc. is an exploration / development stage company targeting the growing global graphite production industry with the Company's Africa-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia and produced USD $30 million of graphite at today's prices. The site is estimated to contain a significant amount of high grade, vein type graphitic material, and is close to the port city of Luderitz. Global graphite demand is being driven by the development of new markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities. The completion of GPNE's Aukam Graphite Mine re-launch and development activities are expected to result in a significant investment into Namibia commencing in 2016.
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: Steve Nichols, (210) 260-3125
SOURCE: Next Graphite, Inc.