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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Northern Graphite Corp    NGC   CA66516A1057

NORTHERN GRAPHITE CORP

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Northern Graphite : plans increased production rate at Ontario project

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02/12/2019 | 03:34am EDT

The Bisset Creek graphite project, in Ontario, could yield at least 20% more production for a relatively modest 6% increase in capital costs, owner Northern Graphite said on Friday, citing an ongoing review of the project by G Mining Services.

The TSX-V-listed company said that higher production of 25 000 t/y would reduce operating costs and would have a positive impact on the net present value (NPV) and internal rate of return (IRR) of Bisset Creek.

The previously filed feasibility study for the project contemplated producing 20 800 t/y of graphite concentrate in Phase 1, which has a capital cost of C$101.6-million. Phase 2 would double production.

A preliminary economic assessment (PEA) encompassing Phase 1 and 2 estimated a pretax IRR of 30.1% and a pretax NPV of $304.9-million, using an 8% discount rate.

The Bisset Creek project already has attractive economics at current prices and they will be further enhanced by the higher production level. We do not believe this will significantly increase the risk associated with introducing new supply into the market. Most graphite deposits contain large resources, but production must be right-sized for markets as some large, low-margin segments are currently unattractive to western producers, explained CEO Gregory Bowes.

He added that Northerns strategy was to focus on higher value industrial markets, mainly the US and Europe, where many customers required large and extra-large flake graphite.

(c) 2019 The New Times Publications S.A.R.L All rights reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Income Statement Evolution
Managers
NameTitle
Gregory B. Bowes Chief Executive Officer & Director
John Darin McNeice Chief Financial Officer & Secretary
Donald Henry Christie Independent Director
Iain Scarr Independent Director
K. Sethu Raman Independent Director
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