SRC White Quartzite Quarry and Export Market Update
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Toronto, Ontario--(Newsfile Corp. - February 6, 2024) - Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to announce that licensing for the Company's White Quartzite Quarry has cleared another milestone. On the 25th of January the State Forestry Institute of Minas Gerais, Instituto Estadual de Florestas (IEF), completed their site visit. The site visit is a prerequisite for granting final approval for commercial operations at the Company's new White Quartzite Quarry.
Final approval from the IEF is expected imminently, at which point a sample block from the Company's new White Quartzite Quarry will be produced and shipped for processing into slabs. These slabs will permit purchasing clients to view the material quality and to understand its finishing characteristics in advance of full-scale commercial production.
"Demand for white quartzite is strong, with many Brazilian factories reporting difficulty in purchasing enough material in block form. We believe that the white quartzite which will be produced at our new quarry will find a ready market," said Marcus Chase, president of Mineração VMC Ltda. (VMC), Stakeholder's Brazilian subsidiary.
Figure 1. White Quartzite Processed Slabs, Minas Gerais, Brazil
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"Our purchasing clients have expressed strong interest in the material from this new quarry. Conservatively, we estimate that this quarry will sell 150 cubic meters of quartzite per month. Prices will vary between
Export Market Development
The Company is also pleased to announce that the first two containers of Blue Quartzite slabs have been cut, polished, and shipped directly to a new export market that the Company is developing in Canada. VMC is now preparing additional containers for export from Brazil to Canada.
"Our objective with direct exports is to enhance uptake at the same time as we commission new quarries in Brazil in order to grow sales for the company's expanding product offering," stated Christopher Berlet, CEO of Stakeholder.
"Stakeholder is developing a profitable cash flow business with a view to restricting treasury share issuance while we pursue high value-add exploration targets on the company's
For further information please contact:
Stakeholder Gold Corporation
416 525 - 6869
cberlet@stakeholdergold.com
Forward Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196847
FAQ
What is the latest milestone achieved by Stakeholder Gold Corp.?
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