TORONTO, ON / ACCESSWIRE / September 7, 2022 / Gratomic Inc. ("Gratomic", "GRAT," or the "Company") (TSXV:GRAT)(OTCQX:CBULF)(FSE:CB82) announces its progress update on the earth moving activities at its Flagship Aukam Graphite Project in Namibia. Benching typically consists of successively cutting berms alongside the mountain edge in order to steadily expose underground material, at the same time ensuring the stability of the mountain structure. This process allows for the collection of graphite in stages as the platforms are constructed on the Aukam mountain.
The earliest stage of any Benching program is the preparation phase, which occurs prior to any removal of earth from the the mountain. This phase is of the utmost importance as it is focused on maintaining safety and stability of the mountain structure throughout the entire benching process. Engineers must plan for the prevention of possible structural collapses due to existing adits and possible crevaces that may exist within the rock formations. The Gratomic engineering team has completed the necessary pre-benching requirements, including the mobilization of the required yellow machines, the continuation of the access road to the upper part of the mountain, and the repositioning of the historic stockpiles to the run-of-mine (ROM) pad next to the onsite processing plant.
During the past weeks, an excavator and a dozer were mobilized to the site. The road opening is currently at 70% of completion. During the process, 550 metric tonnes of historic stockpiles have been moved from the mountain to the ROM pad to be processed.
LEFT: Machines in action at the Aukam mountain RIGHT: Equipment inspection before workshift
Arno Brand, President & CEO, states, "The safety of our people is our main focus. We review all engineering plans in minute detail and have plans in place to ensure that the benching program is being conducted safely and efficiently. I am happy with the progress and look forward to seeing the rapid changes on the Aukam horizon in the coming weeks, months and years."
"Dealing with the complex vein structure we find in Aukam with the required safety precautions requires utmost knowledge and experience, and we trust our team has the required talent and dedicaton needed for the task," says Armando Farhate, COO & Head of Graphite Marketing & Sales.
Gratomic wishes to emphasize that no Preliminary Economic Analysis, Preliminary Feasibility Study or Feasibility Study has been completed to support any level of production. In fact, no mineral resources let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam property.
The Company is working towards completing a Feasibility Study (FS) on the Aukam Processing plant. The study, its recommendations, and their subsequent implementation, will provide conclusions and recommendation at a FS level of comfort relating to the scale up of the existing processing plant to a commercial scale processing facility capable of producing the desired concentrate grades and production rates.
Gratomic wishes to emphasize that the supply of graphite is conditional on Gratomic being able to bring the Aukam project into a production phase, and for any graphite being produced to meet certain technical and mineralization requirements.
Risk Factors
No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant until the FS (Feasibility Study) is completed.
The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a Preliminary Feasibility Study or FS of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.
Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability.
About Gratomic
Gratomic is a multinational company with projects in Namibia, Brazil, and Canada. The Company is focused on becoming a leading global graphite supplier and aims to secure a strong position in the EV battery supply chain. With the continued development of its flagship Aukam project and further exploration on the Company's Capim Grosso property, Gratomic sets itself apart by seeking out unique top-quality assets around the world. True to its roots, the Company will continue to explore graphite opportunities displaying potential for development. The Company ranked third place in the top 10 preforming mining stocks on the 2022 TSX Venture 50.
Large quantities of high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the test results will provide a unique competitive advantage in its desired target markets. The Company will continue to update the public on the status of these tests and will provide results as soon as they become available.
The Company has formed a collaboration agreement with Forge Nano. With its patented ALD coating, this cooperation with Forge Nano is a key element to support Gratomic's strategies towards the value-added phases of production of graphite for anode applications, namely micronization, spheronization and coating, making Gratomic graphite a preferred choice for use in lithium-ion batteries.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or (416) 561- 4095
Subscribe at gratomic.ca/contact/ to be added to our email list.
For Marketing and Media information, please email: info@gratomic.ca
"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."
Forward-Looking Statements:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com)
SOURCE: Gratomic Inc.
View source version on accesswire.com:
https://www.accesswire.com/714898/Gratomic-Announces-Progress-Update-on-Benching-Program-at-its-Aukam-Project-in-Namibia
