Gratomic Battery Update
Gratomic Inc. (TSXV:GRAT)(OTC PINK:CBULF) announced its readiness to introduce high-grade, environmentally sustainable graphite to the North American EV market amid Tesla's battery week. The company claims to be the only graphite firm to reach the construction phase. Gratomic's Aukam graphite is noted for its high purity and more efficient processing methods. However, the company emphasizes that no feasibility studies have been completed, which brings uncertainty regarding production viability. Recent appointment of Dr. Ian Flint aims to conduct a preliminary economic assessment (PEA) for the Aukam Processing plant.
- Gratomic is entering the North American EV market with high-grade graphite, positioning itself as a key player.
- Aukam graphite is highlighted for its high purity and environmentally sustainable sourcing.
- The company has appointed Dr. Ian Flint to conduct a PEA, which may enhance future production plans.
- No Preliminary Economic Analysis, feasibility study, or mineral reserves have been established for the Aukam Property.
- There is significant uncertainty regarding achieving production levels and economic viability, which could adversely impact operations.
- Failure to commence production could severely affect cash flow and the company's ability to generate revenue.
TORONTO, ON / ACCESSWIRE / September 22, 2020 / In light of Tesla's battery week Gratomic Inc. ("GRAT" or the "Company") (TSXV:GRAT)(OTC PINK:CBULF)(FRANKFURT:CB81) (WKN:A143MR) is gearing up to bring its high grade, environmentally sustainable graphite to the North American EV market.
In a race that started in 2012, Gratomic is the only one of several graphite companies that has successfully brought its asset through to the final construction phase.
The Company is now ready to introduce its graphite to battery producers for use in advanced anode technology. Being of such naturally high purity, Gratomic's vein graphite is ideal for use in this application, requiring simpler, less expensive and more efficient processing methods, resulting in a final product with naturally lower contents of deleterious elements.
In addition to its high purity levels, the Company's Aukam graphite is a much cleaner alternative to this market's current supply options as a sustainably sourced resource as per the Company's September 3rd Press Release. The Company intends to establish a new benchmark for recording and guaranteeing the product's carbon footprint, based on latest generation blockchain technology.
"Gratomic has entered into discussions with several carbon-to-battery experts with the intent to provide a tailored product for the battery market." says CEO and President, Arno Brand.
Gratomic wishes to emphasize that no Preliminary Economic Analysis ("PEA"), 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 recently appointed Dr. Ian Flint to complete a preliminary economic assessment (PEA) on the Aukam Processing plant. The study, its recommendations, and their subsequent implementation, will provide conclusions and recommendations at a PEA level of comfort relating to the scale up of the existing processing plant to a commercial scale processing facility that will provide the desired concentrate grades and production rates. A preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
Gratomic wishes to emphasize that the supply of graphite pursuant to any off-take or supply agreement referred to in this Press Release 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. Gratomic continues to move its business towards production and as part of its business plan, expects to obtain a National Instrument 43-101 Standards of Disclosure for Mineral Projects technical report to help it ascertain the economics of the Aukam project.
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.
The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a feasibility study 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.
Steve Gray, P. Geo. and a Director of the Company has reviewed and approved the scientific and technical information in this press release and is the Company's "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Gratomic Inc.
Gratomic is an advanced 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 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/607136/Gratomic-Battery-Update
FAQ
What is Gratomic's current focus in the stock market (CBULF)?
Has Gratomic completed any feasibility studies for the Aukam project?
What are the anticipated risks associated with Gratomic's production efforts?
Who has Gratomic appointed to assess the Aukam Processing plant?
