First Shipment of At Least 2,000 Tonnes Remains on Target for July 2016
NEW YORK, NY and WINDHOEK, REPUBLIC OF NAMIBIA / ACCESSWIRE / May 17, 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 that, as required under its Letter of Intent (see News Release dated, March 24, 2016), a 1.6 tonne sample has been delivered to the producer in order for it to test the material in its plant.
Additionally, construction and installation of bulk equipment on-site, including separation screens and sorting bays, has commenced in order to fulfill delivery of specified graphite.
Under the terms of the LOI, up to 5,000 metric tonnes of graphitic material grading between 40 and 50% Cg (carbon as graphite) will be delivered over the course of the next year, with a first shipment of at least 2,000 tonnes of graphitic material to be made during July 2016.
Next Graphite's recently renewed Prospecting License covers its 96,000-acre Aukam property including three existing adits and onsite heaps of graphite-bearing rock. Previous reports confirmed samples achieving 32% to 69% graphite content, with the highest sample recorded at 82% graphite.
"Important progress continues at our Aukam site," said Cliff Bream, CEO of Next Graphite. "We and our JV partner are preparing for initial customer deliveries of pre-processed graphite this summer. We are also planning on finalizing the farm-out agreement with our partner in the weeks ahead, which will set the stage for construction of our Aukam processing facility."
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.