NORTHERN GRAPHITE CORPORATION Northern Graphite Corporation announced that it has filed a technical report relating to the preliminary economic assessment ("PEA") of its Okanjande/Okorusu graphite project in Namibia. The technical report, entitled "Okanjande Graphite Project - Preliminary Economic Assessment Study Report" is effective July 1, 2022, has been prepared for Northern in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects by CREO Engineering Solutions (Namibia) with contributions from Knight Piesold Consulting (Namibia) and MSA Group (South Africa). Northern's Lac des Iles, Quebec mine is the only significant graphite producer in North America and the Company will become the third large non Chinese producer when its Okanjande/Okorusu operation comes back online.
The PEA concludes that Okanjande/Okorusu can be back in operation by mid 2023. Average production will be 31,000 tonnes per annum of graphite concentrate. C1 production costs of USD 775 per tonne.
Post Tax IRR of 62%. Post Tax NPV of USD 65 million and a payback of under two years based on a 10-year mine life and a weighted average graphite price of USD 1,500/tonne. Average carbon content over all size fractions of 96%.
The Okanjande resource presents the opportunity to build a large new processing plant at the mine site with the capability of producing 100,000-150,000tpy of graphite concentrate.
