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Let's wake this board up a bit. Hello all! My first post here. I have been following the lithium market very closely specifically Western Lithium. Jay Chmelauskas is the CEO of western Lithium as well a director with Northern Graphite. Northern Graphite had a significant PR 8/11/14 re: graphite needed for lithium ion battery production. I do not know why it is not reflected in the NG website though.
Here is the link.
http://www.marketwired.com/press-release/northern-graphite-confirms-high-spherical-graphite-yield-tsx-venture-ngc-1937297.htm
With the resent press release of Tesla building the Gigafactory in Nevada and Western. Lithium being next door with Jay Chmelauskas having administrative positions in WL and NG we may see some news. Tesla WILL need graphite for battery production!
Kazar
Not sure but I saw this schema a few years ago (go and see the graph)
NGC is noted as the leader of graphite* in CA (Canada is the best producer
of large graphite flakes-geology)
(*few years ago too).
Seems about twice a month now that it's doing that.
NGV is up = it's moving (half million shares today)
Out of Canada?
Not that I'm aware of, but
Nick Hodge has been teasing it for months.
Maybe this guy subscribes to Nick's letter and can shed more light:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=95904789
Does ngc supply Panasonic? I wasn't aware that they did.
Maybe when the details of the Nikkei report
start coming out, could be 'do or die' time for NG as far as any Gigafactory connection goes.
Tesla Motors strikes battery plant deal with Panasonic •
Nikkei reports the automaker struck a battery plant deal with Panasonic (OTCPK:PCRFY).
An official announcement from the companies hasn't been made yet.
any news on this one? been a while since it was above $1.
I'm still a lurker,but have switched my attention to energy producing penny stocks,such as BMSPF and FASC.
Where is everyone - Graphene is a world changing game-changer-Nick Hodge says it will be over $20 this year!
Don Baxter to Head FMS Mining Operations
Focus Graphite Inc.
TSX VENTURE : FMS
OTCQX : FCSMF
FRANKFURT : FKC
Focus Graphite Inc.
September 13, 2013 16:10 ET
Focus Graphite Appoints Donald K. D. Baxter, P.Eng., President & Chief Operating Officer
OTTAWA, ONTARIO--(Marketwired - Sept. 13, 2013) - Gary Economo, President and CEO of Focus Graphite Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) is pleased to announce the appointment of Mr. Don Baxter as President and Chief Operating Officer. His appointment is effective immediately. Mr. Economo will continue as Chief Executive Officer.
Mr. Baxter served as President of Northern Graphite Corporation between February 2, 2011 and July 8, 2013 and was responsible for all technical aspects relating to the Bissett Creek graphite project including the bankable feasibility study, metallurgical test work and environmental and mine permitting.
He also served as Mine Superintendent at the Kearney Graphite mine when it operated in the 1990s. Mr. Baxter served as a Director of Mining at Ontario Graphite Ltd. He holds a BSc. (Eng.) degree in mining engineering from Queen's University, is a Registered Professional Engineer and a Qualified Person under NI 43-101.
"Mr. Baxter's appointment completes our world class management team as we move towards Lac Knife's full development," Mr. Economo said.
"The timing of Don's departure from Northern Graphite coincided with our long-planned corporate moves. The coincidental timing of his availability and the finalization of Lac Knife's pilot floatation plant results were propitious. We're very pleased to have Don as a member of the Focus team," Mr. Economo added.
Mr. Baxter joins Dr. Joseph Doninger, Director of Manufacturing and Technology, Dr. Benoit Lafrance, Vice President Exploration, Mr. Jeff Hussey, Vice President Project Development of Lac Knife, Mr. Marc-Andre Bernier, Focus Director and Qualified Person, Dr. Gordon Chiu, Chief Scientist, and Ms. Judith Mazvihwa-MacLean, Chief Financial Officer.
Lac Knife mine design engineering was contracted to Roscoe Postle Associates (RPA) in May 2011, and Quebec-based Terrapex Environmental Ltd. was retained in November 2012 to assist with federal and provincial project permitting for Lac Knife.
The results of the Lac Knife pilot floatation plant published Aug. 21, 2013 confirmed Lac Knife's standing as a world-class deposit.
Highlights of the pilot floatation plant test results reported by SGS Canada Inc. included:
The average grade of the coarse size fraction that is greater than 80 mesh (39%) was 98.3% Ct (carbon content) compared with 97.4% Ct in the Phase 2 Locked Cycle Tests** ("LCTs")
The average grade of the medium size fractions, less than 80 mesh and greater than 150 mesh in size(27.2%), was 98.2% Ct compared with 97.4% Ct in the Phase 2 LCTs
The average grade of the size fraction greater than 200 mesh and less than 150 mesh (14.1%) was98.0% Ct compared with 97.2% Ct in the Phase 2 LCTs.
The average carbon content of the pilot floatation plant campaign was 96.6% Ct compared to 96.4% Ct reported in the Company's July 9, 2013 press release on the final results of the Phase II LCTs.
Mr. Baxter will receive options to purchase 500,000 common shares of Focus at an exercise price of $0.49 per share until September 13, 2018.
About Focus Graphite
Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Indicated Mineral Resource Estimate of 4.9 million tons grading 15.8% graphitic carbon (Cgr) as crystalline graphite with an additional Inferred Mineral Resource Estimate of 3.0 million tons grading 15.6% Cgr of crystalline graphite. Focus' goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Assessment ("PEA") of the Lac Knife Project which demonstrated that the project has an excellent potential to become a graphite producer. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus also invests in the development of graphene applications and patents through Grafoid Inc.
Forward Looking Statements - Disclaimer
This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. Focus Graphite disclaims any intention or obligation to revise or update such statements.
Neither 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.
$NGPHF ~ @ .82 after a sweet move yesterday!
Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
$NGPHF has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
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~ $NGPHF ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
$NGPHF has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
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c
Added position today for play in the graphene wave that will come in the future.
Long NGPHF $$$$
~ $NGPHF ~ Parabolic SAR Buy Signals ~ Criteria alert for last trading session!
$NGPHF has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
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" Two ground-breaking studies seem to indicate that we will be hearing lots more about graphene, a two-dimensional material made of pure carbon, as scientists have discovered the substance is key in the removal of nuclear waste from water and helps in the treatment of diseases such as Alzheimer’s.
On Tuesday, US and Russian researchers announced they have discovered that graphene oxide can quickly remove radioactive material from contaminated water.
The new method, explained in the Physical Chemistry Chemical Physics Journal, proves that microscopic, atom-thick flakes of graphene oxide can bind quickly to natural and human-made radionuclides and condense them into solids for easy removal from contaminated water.
Rice University chemist James Tour and Lomonosov Moscow State University academic Stepan Kalmykov believe the discovery could be used in the clean-up of contaminated sites, such as the Fukushima nuclear plants damaged by a 2011 earthquake and tsunami, according to the statement released yesterday.
The researchers focused on removing radioactive isotopes of the actinides and lanthanides – the 30 rare earth elements in the periodic table – from liquids, rather than solids or gases.
“Though they don’t really like water all that much, they can and do hide out there,” said Steven Winston, a former vice-president of Lockheed Martin and Parsons Engineering and an expert in nuclear power and remediation who is working with the scientists.
“From a human health and environment point of view, that’s where they’re least welcome,” he added.
Key benefits for mining
Naturally occurring radionuclides are also unwelcome in fracking fluids that bring them to the surface in drilling operations, Tour said. “When groundwater comes out of a well and it’s radioactive above a certain level, they can’t put it back into the ground,” he said. “It’s too hot. Companies have to ship contaminated water to repository sites around the country at very large expense.”
The ability to quickly filter out contaminants on-site would save a great deal of money, he said.
He sees even greater potential benefits for the mining industry. Environmental requirements have “essentially shut down US mining of rare earth metals, which are needed for cellphones,” Tour said. “China owns the market because they’re not subject to the same environmental standards. So if this technology offers the chance to revive mining here, it could be huge.”
Medicine
The biomedical field is also looking at graphene’s applications for advancing therapeutics and diagnostics. An article in the journal Advanced Materials ("New Horizons for Diagnostics and Therapeutic Applications of Graphene and Graphene Oxide") outlines some of the ways the element and its oxide are promising improved diagnostics and therapeutics for a number of different health conditions.
Graphene is also being looked at for drug and gene delivery applications, phototherapy for cancer and biosensors. In particular, researchers have been experimenting with combining graphene with near-Infrared (NIR) phototherapy and imaging. There has been some progress in using graphene-enabled NIR photo-thermal therapy for cancer and Alzheimer's disease (AD).
While both pure graphene and graphene oxide have exhibited some toxicity to cells and animals, experts say that coating it with a biocompatible polymer results in no detectable toxicity in both cellular and animal testing." ( mining.com)
Significant development today! NGPHF signed equipment financing for mining operation.
ron,
can you share any info on the company? i'm looking for a graphite play.
thanks!
harpdog
It was my shares that were sold on the opening today - in @ %.59, and made some money for Christmas and New Year parties + gifts.
The company expects to receive the MCP approval by the end of September, according to their last PR.
October we may see a better pps, imo.
No bottom in sight until financing secured, imo.
Do you think this is ever recovering the $2 pps range?!
From another board.....details in article seem positive for ngphf
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=31306639&l=0&r=0&s=EGZ&t=LIST
Reaction to changed economics shown in the recent report.
The more immediate question to my mind is where is the baseline/bottom going to establish, for the current financial global environment.
Thank you for this analysis and welcome to the board!
I am sticky'ing this post for others to see.
From the BFS
“Over the first five years, cash mine operating costs will average CDN$851 per tonne of concentrate. Over the life of the project operating costs are estimated at $968 per tonne of concentrate. These estimates are based on operating costs per tonne of ore of $9.60 for processing, $2.94 for general and administrative costs and $5.79 for mining.”
The above is saying, that OPEX will be $851 tonne of concentrate during the first five years of operation producing 18,600 tonne in concentrate annually. If you add a $102.9 million dollar 10 year loan at 7.5% paid annually, it could come to about $15.1 million annually.
OPEX + CAPEX cost should be ($851 x 18,600t ) + 15,100,000 = $30.93 million annually
Assuming Graphite sales averaged $2,600/tonne
Sales could give $2,600 x 18600 = $48.36 million annually.
Potential before tax profit could be 48.36 – 30.93 = $17.45 million.
Assuming they get a 7.5% 10 year loan without having to add more than 15 million new shares, to the present 46.46 million shares, they could have before tax earnings of 17.45/(46.46 +15.00) = 28 cents a share,
Not bad when one considers that their average sale price per tonne Graphite could be higher and they add production over the years.
Cost of the mine went up 20% in the bankable feasibility study and most are pegging the collapse in share price to that increase and its connection to obtaining adequate funds in a weak financial marketplace.
Like so many others, I should have sold when it opened at ~1.90'ish especially since it traded ZERO shares for half an hour. Live and learn.
well...I was wrong. Selling the news today. Oh stock market, how I love thee.
Really positive feasibility report just out. Gapper tomorrow and rest of week, imo.
looking poised to go up significantly here. All we need is that report and some upgrades.
Feasibility results should be out next week...
Northern Graphite Provides Update on Bankable Feasibility Study Timing
MarketwirePress Release: Northern Graphite Corporation – Fri, Jun 29, 2012 4:10 PM EDT
OTTAWA, ONTARIO--(Marketwire -06/29/12)- Northern Graphite Corporation (NGC.V)(NGPHF) provides the following update to its guidance with respect to the timing of the release of the results of the bankable feasibility study ("FS") for its 100% owned Bissett Creek graphite deposit. All work and analysis relating to the FS has now been completed and it is in the final stages of compilation and review. The Company expects to issue a press release announcing the results of the FS during the week of July 9, 2012. A National Instrument 43-101 technical report relating to the FS will be filed on SEDAR within 45 days thereafter.
The Company will schedule a conference call to discuss the FS results on the day that they are issued.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
Neither 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.
Contact:
Gregory Bowes
CEO
(613) 241-9959
Don Baxter P.Eng
President
(705) 789-9706
I'm hearing chattering on the yahoo board that the bankable feasibility study is slated to be released this month. We shall see.
Yeah, it's hard to get a proper read on it. ADRs are usually like that: unpredictable.
true, I don't think it follows the indices though.
Coming to life here...on a horrible market day.
Graphite Digest — May 18, 2012
May 18, 2012
Pinestar declines Option to acquire Australia Graphite Properties
Pinestar Gold Inc TSXV:PNS announced May 18 it will not exercise its option to acquire 11 graphite properties in four Australian states. The option with Zimtu Capital Corp TSXV:ZC and Strategic Resource Management Pty Ltd was announced March 1.
Rainbow stakes BC Graphite Prospects
Rainbow Resources Inc TSXV:RBW announced May 17 acquisition of graphite prospects in southwest BC. The company has staked two claim blocks covering over 40 square kilometres west and southwest of its flagship Big Strike Gold-Silver Project in the Slocan Mining District. The 2,100-hectare Claim Block #1 lies immediately north of Anglo Swiss Resources’ TSXV:ASW Blu Starr Graphite Property and 14 kilometres from Eagle Graphite’s mine, one of North America’s two flake-graphite producers. The 2,100-hectare Claim Block #2 is contiguous to Blu Starr’s southern boundary.
Read more graphite news from around the web. http://resourceclips.com/2012/05/18/graphite-digest-feature/
Now I feel quite the fool. Thanks, Buckey! Interesting to see the two trade apart today. NGC should surpass the two dollar mark again soon, imo.
Markets closed in Canada today
I know this board isn't frequented much, but has anyone else noticed that NGC on the TSX exchange isn't trading today? It shows Friday's close and total volume. Weird.
I haven't taken a full position yet. Could go up from here or down more. Either way im hedged.
careful today's lows are not tomorrow's highs
Back in at 1.82, missed today's low.
Still watching...how low can this go? Don't want to catch a falling knife here.
Graphite 2013
Northern Graphite Plans to Open Ontario Mine Next Year
By Greg Klein
If the timeline holds, Northern Graphite’s TSXV:NGC Bissett Creek Project will be one of the first graphite mines to open outside China since the 1990s. Bankable feasibility is scheduled for completion later this month, along with a mine closure plan. Assuming the latter is approved by the Ontario government, a year of construction will bring the project to fruition by the end of next year.
“From a mining and metallurgical point of view, the project has pretty well been de-risked,” CEO Gregory Bowes declares. “This thing had a full feasibility study done on it during the 1980s, so we’re effectively doing the second one, and all the results are consistent. So it’s low risk, technically.”
Read more about Northern Graphite in Ontario. http://resourceclips.com/2012/05/01/graphite-2013/
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The Company trades on the TSX Venture Exchange under the symbol NGC and on the OTCBB under the symbol "NGPHF".
What is graphite used for?
Traditional demand for graphite is largely tied to the steel industry where it is used as a liner for ladles and crucibles, as a component in bricks which line furnaces ("refractories"), and as an agent to increase the carbon content of steel. In the automotive industry it is used in brake linings, gaskets and clutch materials. Graphite also has a myriad of other uses in batteries, lubricants, fire retardants, and reinforcements in plastics.
Industrial demand for graphite has been growing at about 5 per cent per annum for most of this decade due to the ongoing industrialization on China, India and other emerging economies. However, the "blue sky" for the graphite industry is the incremental demand that will be created by a number of green initiatives including Li ion batteries, fuel cells, solar energy, semi conductors, and nuclear energy. Many of these applications have the potential to consume more graphite that all current uses combined.
The market for graphite exceeds one million tonnes per year ("Mtpy") of which 60% is amorphous and 40% flake. Only flake graphite which can be upgraded to 99.9% purity is suitable for making Li ion batteries. The graphite market is almost as large as the nickel market (1.3 Mtpy), far larger than the markets for magnesium (429 Mtpy), molybdenum (180 Mtpy) or tungsten (55 Mtpy), and more than 50 times the size of the lithium or rare earth markets.
How is graphite priced?
Like uranium, there is a posted price for graphite which provides a guideline with respect to longer term trends but transactions are largely based on direct negotiations between the buyer and seller. Graphite prices are also a function of flake size and purity with large flake (+80 mesh), 94% carbon varieties commanding premium pricing. Prices exceeded US$1,300/t in the late 80s but crashed to US$600-750t in the 90s as Chinese producers dumped product on the market. During this period there was essentially no exploration and as a result there are very few projects in the development pipeline.
Graphite prices did not start to recover until 2005 and have well surpassed US$1,300/t with premium product rumored to be selling at up to $3,000/t as the supply of large flake, high carbon graphite is tight. Price appreciation is largely a function of the commodity super cycle and the industrialization of emerging economies as new, high growth applications such as Li ion batteries are only beginning to have an impact on demand and consumption. Graphite prices have still not yet experienced the price appreciation of other commodities and graphite must still be considered an overlooked and undervalued commodity in the context of the current super cycle.
The China Syndrome
China produces over 70 per of the world's graphite supply. Approximately 70% of Chinese production is lower value fine or amorphous graphite while 30% is flake. China does produce some large flake graphite but the majority of its flake graphite production is very small in the +200 mesh range.
China was responsible for the large decline in graphite prices in the 90s as a substantial amount of product was dumped on the market. This is unlikely to be repeated due to the phenomenal growth in the Chinese domestic steel industry which internally consumes a great deal of graphite. Furthermore, Chinese graphite is declining in quality and costs are increasing due to the effects of high grading, the fact that mines are getting deeper and older, and to tightening labor and environmental standards.
The majority of Chinese graphite mines are small and many are seasonal. Easily mined surface oxide deposits are being depleted and mining is now moving into deeper and higher cost deposits. China now has a 20% export duty on graphite, as well as a 17% VAT, and has instituted an export licensing system. China also hasd a strategy of keeping value added processing in country. As a result, production and exports are expected to decline and graphite now shares the same supply concerns as the rare earth elements. Both the Eurporean Union and the USA have named graphite a supply critical mineral. There is only one North American mine which commenced production in 1990 with a 14 year mine life. It has now exceeded 20 years of operation and its future is uncertain at best.
Graphite in Lithium Ion Batteries
Li ion batteries are smaller, lighter and more powerful than traditional batteries. They also have no memory effect and a very low rate of discharge when not in use. As a result, most portable consumer devices such as laptops, cell phones, MP3 players and digital cameras use Li ion batteries and they have now moved into power tools as well. While this market is growing rapidly, the batteries are small and the resultant demand for metal is relatively small. Graphite demand in Lithium ion batteries was estimated at 44,000 tonnes in 2008 or about 10 per cent of the flake market.
However, Li ion batteries are now being used in hybrid electric vehicles ("HEV"), plug in electric vehicles ("PEV") and all electric vehicles ("EV") where the batteries are large and the potential demand for graphite very significant. While this has created a great deal of excitement in the lithium industry, the investment community is only now beginning to focus on other materials used in Li ion batteries and by weight, graphite is the second largest component. In fact, there is more than 10 times more graphite than lithium, in a lithium ion battery. Graphite is in a much stronger position than lithium carbonate as it is the anode material of choice for most battery designs. The anode requires a porous carbon material and graphite is the optimum suitor.
There are 2-3 10 kgs of graphite in the average HEV and 25-50 kgs in an EV. President Obama's target is to have one million EVs on the road in the US alone by 2015. In a recent research report Canaccord estimated that incremental Li carbonate demand from Li ion batteries will reach 286,000 tonnes by 2020. That will require a six fold increase in annual flake graphite production to provide material for that many batteries.
Only flake graphite which can be upgraded to 99.9% purity can be used to make the "spherical" or "potato" shaped graphite used in Li ion batteries. The process is expensive and wastes 70% of the feedstock flake graphite. As a result, spherical graphite currently sells for between $4-6,000/tonne or twice the price of high quality flake graphite.
Almost all Li ion battery manufacturing currently takes place in Asia. However, it has become a very big priority for the Obama administration due to the decline in the US domestic car industry. The recent congressional stimulus bill includes tens of billions of dollars in loans, grants, and tax incentives for battery and HEV research and manufacture to jump-start US industry. Michigan has awarded $544M in tax credits to four Li ion battery companies with plans to invest more than $1.7 billion in manufacturing facilities. A123 Systems, which designs and manufactures Li ion batteries and systems, raised $428.3 MM in an over-subscribed IPO on NASDAQ in September 2009.
Links:
Graphite in Fuel Cells
While batteries store electrical energy for subsequent use, fuel cells also generate electricity through chemical reactions and therefore need to be periodically "refueled". Fuel cells can be used in both stationary and mobile applications and use substantially more graphite than lithium ion batteries. Fuel cells produce little or no waste products and are very quiet, eliminating noise pollution. They have no moving parts and are long lasting, low maintenance and reliable. Fuel cells are also much more efficient than combustion engines in converting fuel to energy.
According to fuelcells.org "there are many uses for fuel cells right now and all of the major automakers are working to commercialize a fuel cell car. Fuel cells are powering buses, boats, trains, planes, scooters, forklifts, even bicycles. There are fuel cell-powered vending machines, vacuum cleaners and highway road signs. Miniature fuel cells for cellular phones, laptop computers and portable electronics are on their way to market. Hospitals, credit card centers, police stations, and banks are all using fuel cells to provide emergency power to their facilities. Wastewater treatment plants and landfills are using fuel cells to convert the methane gas they produce into electricity. Telecommunications companies are installing fuel cells at cell phone, radio and 911 towers."
According to the United States Geological Survey, fuel cells have the potential to consume as much graphite as all other uses combined. There are a number of different types of fuel cell under development although the proton exchange membrane technology ("PEM") is the only one that uses large quantities of graphite and could create significant demand for graphite. However, the US Department of Energy suggests that PEM cells are the most likely to be developed for use in light vehicles, buildings and smaller applications. Some auto manufacturers are stating that fuel cells vehicles will be commercial by 2012 while Toyota states that "it sees a clear path to commercial production by 2015."
Fuel Cell Design (www.scientific-computing.com)
Bi polar plates, which are a major component of fuel cells, are made from medium to coarse, high purity flake graphite.
Links:
Graphite in Pebble Bed Nuclear Reactors
A Pebble Bed Nuclear Reactor ("PBMR") is a small, modular nuclear reactor. The fuel is uranium imbedded in graphite balls the size of tennis balls. PBMRs have a number of advantages over large traditional reactors in addition to their lower capital and operating costs. First, they use an inert gases rather than water as a coolant. Therefore, they do not need the large, complex water cooling systems of conventional reactors and the inert gases do not dissolve and carry contaminants. Second, its passive safety removes the need for redundant active safety systems. In other words, a PBMR cools naturally when is shut down. Finally, PBMRs operate at higher temperatures which makes more efficient use of fuel and they can directly heat fluids for low pressure gas turbines.
The first prototype is operating in China and the country has firm plans to build 30 by 2020. China ultimately plans to build up to 300 gigawatts of reactors and PBMRs are a major part of the strategy. They are one of china's top 16 priorities in the 2006-2020 plan. Small, modular reactors are also very attractive to small population centers or large and especially remote industrial applications. Companies such as Hitachi are currently working on turn key solutions. Researchers at West Virginia University estimate that 500 new 100 GW pebble reactors will be installed in the US by 2020 with an estimated graphite requirement of 400,000 tonnes. This alone is equal to the world's current annual production of flake graphite without taking into account PBMR demand from the rest of the world, growing industrial demand and growing demand from other applications such as Li ion batteries.
It is estimated that every 1,000 MW of PBMR capacity requires 3,000 tonnes of graphite at start up and 600-1,000 tonnes per year to operate.
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DIRECTORS AND SENIOR MANAGEMENT
Gregory Bowes, B.Sc. (Geology), MBA -CEO and Director. Mr. Bowes has over 25 years of experience in the resource and engineering industries. He holds an MBA from Queens University and an Honours B.Sc., Geology degree from the University of Waterloo. Mr. Bowes was Senior Vice President of Orezone Gold Corporation (ORE:TSX) from February 2009 to October 2009, and was Vice President, Corporate Development of its predecessor, Orezone Resources Inc., from January 2004 until September 2005 and was Chief Financial Officer from October 2005 to March 2007, and from April 2008 to February 2009. From December 2006 until April 2008, Mr. Bowes served as President, CEO and a director of San Anton Resource Corporation (SNN:TSX). Mr. Bowes is a director of IMI.
Iain Scarr, B.Sc. (Geology), MBA - Director. Mr. Scarr is founder and principal of IMEx Consulting which provides business development, mining and marketing services to the industrial minerals industry. Mr. Scarr spent 30 years with Rio Tinto Exploration and was most recently Commercial Director and VP Exploration, Industrial Minerals Division. He holds a B.Sc. in Earth Sciences from California State Polytechnic University and MBA from Marshall School of Business at the University of Southern California. Mr. Scarr is currently Vice President Development of Lithium One Inc.
Ron Little, P.Eng - Director. Mr. Little is the President, CEO and a director of Orezone Gold Corporation (ORE:TSX). Mr. Little has more than 20 years experience, at senior levels , in mineral exploration, mine development, mine operations and capital markets. He spent the last 15 years focused on African projects where he was responsible for over $1.2B of transactions with the predecessor company Orezone Resources Inc. Mr. Little has held directorships with other public and private companies and held senior operating positions in both major and junior gold producing companies.
Jay Chmelauskas, B.A. Sc., MBA- Director. Mr. Chmelauskas is President of Western Lithium Corp. and previously was President and CEO of China Gold International Resources Corp. Ltd. (formerly Jinshan Gold Mines) where he successfully managed and led the company during all phases of the commissioning of one of China's largest open pit gold mines. Mr. Chmelauskas has considerable experience in the exploration, development and mining industry, including a large Placer Dome gold mine, and business analyst position with chemical manufacturer Methanex Corporation. Mr. Chmelauskas has a Bachelor of Applied Science in Geological Engineering from the University of British Columbia and a Master of Business Administration from Queen's University.
Donald H. Christie- Director. Mr. Christie is a Chartered Accountant and currently a Partner and Chief Financial Officer with Alexander Capital Group. He is a director of Alpha One Corporation, a capital pool company. Prior to his involvement with Alexander Capital Group, Mr. Christie co-founded Ollerhead Christie & Company Ltd., a privately held Toronto investment banking firm which sourced, structured and syndicated debt private placements and provided financial advisory services to a client base comprised primarily of colleges, universities, schools boards and provincial government agencies. Prior to founding Ollerhead Christie & Company Ltd., Mr. Christie served as Vice President and a director of Newcourt Capital Inc., formerly the corporate finance subsidiary of then publicly traded Newcourt Credit Group (TSX, NYSE), which subsequently combined with the CIT Group, Inc. While at Newcourt, Mr. Christie was involved in the structuring and syndication of over $1.5 billion of transactions. Mr. Christie holds a B.Comm degree from Queen's University.
K. Sethu Raman, Ph.D - Director. Dr. Raman is an independent mining consultant with over 35 years of international experience in all phases of exploration and development and has held senior executive positions in several public mining companies. He spent 13 years with Campbell Chibougamau Mines and Royex Gold Group of companies (now Barrick Gold) in various management positions including Vice President (1980-86) where he played a key role in the discovery and development in six operating gold mines and major acquisitions including Hemlo Gold Mine and Nickel Plate Gold Mine. From 1986 to 2004, Dr. Raman was President and CEO of Holmer Gold Mines Limited which over the years discovered and developed the Timmins West Gold deposit. On December 31, 2004 Lake Shore Gold Corp. (LSG:TSX) acquired all of the issued and outstanding shares of Holmer. Dr. Raman holds a Ph.D (1970) in geology from Carleton University, Ottawa and a UNESCO Post-Graduate Diploma (1965) from University of Vienna, Austria.
Donald K.D. Baxter, P.Eng - President. Mr. Baxter (age 44) has a degree in Mining Engineering from Queens' University (1987). For the last five years, he has been President of Ontario Graphite Limited, which is attempting to bring the Kearney graphite property, a past producing mine located near Huntsville, Ontario, back into production. Mr. Baxter was Mine Superintendent and Chief Mine Engineer at Kearney between 1990 and 1995. Prior to 1990, Mr. Baxter was involved in mine engineering and operations with INCO and Noranda Minerals.
Stephen Thompson, CA, CPA (Illinois) - Chief Financial Officer. Mr. Thompson (age 42) holds a Bachelor of Commerce (honours) degree from Queens' University (1991) and is a Chartered Accountant as well as a Certified Public Accountant (Illinois) with over 20 years of experience in accounting and finance. For the past three years, he has provided financial management and leadership services to a number of small Ottawa-based companies. He was previously Vice President, Finance of Espial Group Inc., Vice President, Finance of Hydro Ottawa Limited and Vice President Controller of Accelio Corporation.
John S. Rogers P.Eng, M.Sc. - Senior Project Advisor. Formerly Manager of Nanisivik and Detour Lake Mines and Director of Operations, Saudi Arabian Mining Company
George Hawley - Technical Advisor. Mr. Hawley has 40 years of experience in Industrial Minerals in research, process and product development, market analysis and development.Volume | |
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