OTTAWA, Sept. 05, 2017 (GLOBE NEWSWIRE) -- Northern Graphite Corporation (“Northern” or the “Company”) (NGC:TSXV) (OTCQX:NGPHF) reports that the price of large flake (+80 mesh) graphite has increased by approximately 30 per cent over the last couple months and is again selling for over US$1,000/tonne, FOB China. European and North American prices are generally US$50-100/tonne higher. XL flake (+50 mesh) prices have also risen significantly while smaller flake sizes have experienced more moderate price increases. It has been reported by Industrial Mineral Magazine that the supply of large and XL flake graphite is tight and some speculative investment is taking place.
Gregory Bowes, Chief Executive Officer, commented that; “While it is still early, this is hopefully the start of the same upward price trend experienced by the other lithium ion battery (“LiB”) minerals, lithium and cobalt. Northern is very well positioned to benefit with an advanced stage XL flake deposit and a proprietary purification technology that offers an alternative to the Chinese process which is creating environmental issues.“
Industrial Minerals Magazine, Benchmark Mineral Intelligence and Roskill Information Services have all commented on the situation and should be referred to for additional information. Reasons cited by these and other sources for rising graphite prices include:
About Northern Graphite
Northern is a Canadian company that has a 100% interest in the Bissett Creek graphite deposit located in southern Canada, relatively close to all required infrastructure. Bissett Creek is an advanced stage project that has a Full Feasibility Study and its major environmental permit. Subject to the completion of operational and species at risk permitting, which are well advanced, Northern could commence construction early in 2018 pending financing. The Company believes Bissett Creek has the highest margin, best flake size distribution and lowest marketing risk of any new graphite project, and has the added advantages of low capital costs and realistic production levels relative to the size of the market.
Gregory Bowes, B.Sc. MBA, P. Geo., a Qualified Person as defined under NI 43-101, has reviewed and is responsible for the technical information in this press release.
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.
For additional information, please contact: Gregory Bowes, CEO (613) 241-9959