RB Energy Quebec Lithium Production Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 18, 2014) - RB Energy Inc. (the "Company" or "RBI" or RB Energy") (TSX:RBI)(OTCQX:RBEIF) is pleased to report steady production at its Quebec Lithium project and increasing sales of battery grade lithium carbonate.
Since August 3, 2014 (News Release August 5, 2014), 62 tonnes of battery (>99.7% Li2CO3) grade material have been shipped to our off-take partner in China. Production levels currently average between 40 and 50 tonnes of battery grade material per week, and are expected to increase week on week going forward.
Production through the processing plant is now focused on improving recoveries and increasing volumes towards achieving commercial production levels by year end; all part of the standard commissioning process.
The Company has initiated short term financing arrangements as the first step in a two part financing process. The second step is a more comprehensive financing solution over the coming weeks which, combined with revenues from lithium sales, will allow Quebec Lithium to continue to operate in the normal course of business until commercial production volumes and positive operating cash flows are reached.
About RB Energy Inc.
RBI currently owns Aguas Blancas, a producing iodine mine in northern Chile, and Québec Lithium near La Corne, Quebec. The Aguas Blancas operation is in production. The Québec Lithium operation has completed construction and is in the commissioning phase. For more information regarding RBI, please refer to its public filings available at www.sedar.com.
The technical contents of this release have been reviewed by Mr. Kevin Ross, Eur. Ing., a Qualified Person pursuant to NI-43-101. Mr. Ross is Chief Operating Officer of the Company and a Member of The Institute of Materials, Minerals and Mining.
On behalf of the Board,
Richard P. Clark, President and CEO
RB Energy Inc.
(604) 689-7842
(604) 689-4250
Forward Looking Statement Paragraph ommitted for brevity sake...
Finally, some progress. I just hope the upcoming "financing arrangements" aren't destructive AGAIN to us loyal shareholders who have been wiped out once by the previous Reverse Split and for the really long timers who got screwed over when the company first went public and the infamous Lithium reserve estimates and ensuing class action lawsuit.
DD22
Stock Trading...ha ha...Child's Play.
