Gratomic Announces Engineering Update for Final Layout of its Aukam Graphite Mine Processing Facility

Rhea-AI Summary

Gratomic Inc. announced an engineering update for its Aukam Graphite Mine processing plant, currently under construction in October 2020.

Site preparations for additional equipment are underway, with machinery on route from China. Excavation work has progressed, with 100 tonnes completed. Two contractors have been identified for further steelwork and installation.

The plant aims for high efficiency and minimal environmental impact, expected to outperform competitors upon commissioning.

Positive

• Completion of general assembly and site preparations for the Aukam processing plant.
• Machinery en route from China indicates progress in construction.
• Excavation groundwork of approximately 100 tonnes has been completed.

Negative

• Forward-looking statements indicate risks and uncertainties related to future performance.

TORONTO, ON / ACCESSWIRE / August 25, 2020 / Gratomic Inc. ("GRAT" or the "Company") (TSXV:GRAT)(OTC PINK:CBULF)(FRANKFURT:CB81)(WKN:A143MR) is pleased to announce an engineering update on the final layout and general assembly for its Aukam Graphite Mine processing plant, which is currently under construction and scheduled for commissioning in October of 2020.

General Assembly and final layout have been completed and work has commenced on site preparations required to accommodate the Company's additional processing equipment, which is currently en route from China including thickener tanks, cyclone, rotary dryer, filter press, and various additional components.

The staff has safely returned to the Aukam site and are currently conducting excavation work in preparation for the pouring of the concrete foundations. Foundational steelwork has been installed to allow for the pouring of concrete. To date, approximately 100 tonnes of excavation groundwork has been completed to accommodate the construction of these foundations. Gratomic has identified two contractors that will complete the steelwork and installation for the platforms, catwalks, and additional necessary components.

Gratomic's custom engineered and self-constructed facility was designed to encompass the highest degree of efficiency and effectiveness possible. Upon commissioning, this plant is intended to exceed production capabilities demonstrated by many of its competitors by generating minimal environmental impact.

About Gratomic Inc.

Gratomic is a materials company focused on mine to market commercialization of graphite products and components for a range of mass market products. The Company currently holds two off-take purchase agreements for graphite product sourced from the Aukam facility. One agreement is with TODAQ and the other is with Phu Sumika. The Company is listed on the TSX Venture Exchange under the symbol GRAT.

For more information: visit the website at www.gratomic.ca or contact:

Arno Brand at abrand@gratomic.ca or 416 561-4095

"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 press 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/603312/Gratomic-Announces-Engineering-Update-for-Final-Layout-of-its-Aukam-Graphite-Mine-Processing-Facility

FAQ

What is the latest update on Gratomic's Aukam Graphite Mine?

Gratomic has completed the general assembly for the Aukam Graphite Mine processing plant and is currently preparing the site for additional equipment.

When is the Aukam Graphite Mine scheduled for commissioning?

The Aukam Graphite Mine processing plant is scheduled for commissioning in October 2020.

What kind of equipment is Gratomic expecting to arrive from China?

Gratomic is expecting thickener tanks, cyclone, rotary dryer, filter press, and various additional components from China.

How much excavation work has been completed at the Aukam site?

Approximately 100 tonnes of excavation groundwork has been completed at the Aukam site.

What are the expected outcomes of the Aukam Graphite Mine processing plant?

The processing plant is designed for high efficiency and aims to generate minimal environmental impact while exceeding production capabilities of competitors.