Asbury Quebec: The Story Behind the Mine
In the late 1980's the Chinese flooded the world market with graphite, driving the price down. This had a long and lasting impact, and many of the best producers outside of China were forced to consolidate and hang on for dear life, for decades. Now, twenty-five years later, the Chinese are short graphite and have restricted its export. Prices have responded accordingly.
Asbury, the world's largest carbon company by their own definition, had abandoned their Asbury Quebec mine in desperation. Only 70,000 tonnes had been mined.
99.9% jumbo flake graphite fetches as much as $30,000 per tonne. Apparently this mine has high quality large flake in abundance, and in volumes exceeding 10%. This is almost unheard of, a very rare occurrence.
UBR recently acquired 100% ownership of the mine, and soon afterwards approached the Asbury family who were delighted to hear that it would be going back into production. A convivial relationship was struck, which is proving out now in dividends. Recently , the former geologist for the Site, the man who spent his career there and knows every nook and cranny, came forward and made himself available to UBR.
UBR activity at Asbury Quebec, commencing very soon, will both prove up the resource and its purity. Uragold expects to prove up, through an NI 43-101, over 2M tones of graphite, having a minimium value of $600M, and quite probably far in excess of that. If 99.9% pure is determined, the resource could be worth as much as five billion dollars.
No wonder larger companies are staking terrain as close to this jewel as possible
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