VANCOUVER, Aug. 18, 2015 /CNW/ - Flinders Resources
Limited ("Flinders" or the "Company") (TSXV: FDR) announces the
signing of a new contract with a strategic Chinese partner with
well-established design, build and operate capabilities in high
purity graphite production. The relationship with the Chinese
partner continues to position Flinders as a supplier of choice to
the rapidly expanding and game changing lithium ion battery energy
storage industry.
Blair Way, President & CEO
states, "As the only public company with a modern western mine
and production facility able to produce natural flake graphite,
Flinders is uniquely placed to take a leading role in the supply of
high-purity graphite to the lithium ion battery market.
China is presently the leader in
graphite purification technology, and is the primary supplier of
high-purity natural flake graphite to the battery sector.
By partnering with experts in the high purity field, Flinders
gains a competitive edge for the timely transition into the
high-purity market."
Product from Flinders Woxna graphite plant in Sweden has already been shipped to
China and detailed bench-scale
test work is underway to enhance the high-purity flowsheet
developed for Woxna graphite in 2001 (see Flinders' news release
June 25, 2015). Planned
work will verify all technical aspects of the purification process
and define economic parameters. The next stage of work will
aim to finalize the detailed design of the high-purity graphite
flowsheet. The Chinese partner selected by Flinders has the
ability to supply all key elements of a high-purity graphite
plant.
As reported in Flinders' new release dated June 22, 2015, the Woxna plant remains on a
production-ready status and can be restarted in a matter of hours
once viable economics return to the graphite market. Flinders
strategy is to position itself as a supplier of choice to the
high-purity graphite market, while conserving the Company's strong
cash position of C$4M, in the face of
four year lows in natural flake graphite prices. Graphite supply
from Woxna to traditional refractory markets will be restricted
until profit margins improve.
The qualified person as defined in National Instrument 43-101
for the Woxna project, Blair Way,
President and Chief executive Officer and a director of the
Company, and a Fellow of the Australasian Institute of Mining and
Metallurgy, has reviewed and verified the contents of this
release.
On behalf of the Board,
"Blair Way"
Blair
Way, President and CEO
Forward-Looking Information
Certain information in this news release may constitute
forward-looking statements or forward-looking information within
the meaning of applicable securities laws (collectively,
"Forward-Looking Statements"). All statements, other than
statements of historical fact that address activities, events or
developments that the Company believes, expects or anticipates will
or may occur in the future are Forward-Looking Statements.
Forward-Looking Statements are often, but not always, identified by
the use of words such as "seek," "anticipate," "believe," "plan,"
"estimate," "expect," and "intend" and statements that an event or
result "may," "will," "can," "should," "could," or "might" occur or
be achieved and other similar expressions. Forward-Looking
Statements are based upon the opinions and expectations of the
Company based on information currently available to the Company.
Forward-Looking Statements are subject to a number of factors,
risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the
Forward-Looking Statements including, among other things, the
Company has yet to generate a profit from its activities; there can
be no guarantee that the estimates of quantities or qualities of
minerals disclosed in the Company's public record will be
economically recoverable; uncertainties relating to the
availability and costs of financing needed in the future;
competition with other companies within the mining industry; the
success of the Company is largely dependent upon the performance of
its directors and officers and the Company's ability to attract and
train key personnel; changes in world metal markets and equity
markets beyond the Company's control; mineral resources are, in the
large part, estimates and no assurance can be given that the
anticipated tonnages and grades will be achieved or that the
indicated level of recovery will be realized; production rates and
capital and other costs may vary significantly from estimates;
changes in corporate goals and strategies, the Company's
preliminary economic assessment is no longer current or valid and
the Company has no plans to complete a new preliminary economic
assessment, a pre-feasibility or feasibility study on the project,
as a result there is an increased risk of technical and economic
failure for the Woxna graphite project; unexpected geological
conditions; delays in obtaining or failure to obtain necessary
permits and approvals from government authorities; all phases of a
mining business present environmental and safety risks and hazards
and are subject to environmental and safety regulation, and
rehabilitation and restitution costs; the Company does not maintain
insurance against environmental risks; and management of the
Company have experience in mineral exploration but may lack all or
some of the necessary technical training and experience to
successfully develop and operate a mine. Although the Company
believes that the expectations reflected in the Forward-Looking
Statements, and the assumptions on which such Forward-Looking
Statements are made, are reasonable, there can be no assurance that
such expectations will prove to be correct. Readers are cautioned
not to place undue reliance on Forward-Looking Statements, as there
can be no assurance that the plans, intentions or expectations upon
which the Forward-Looking Statements are based will occur.
Forward-Looking Statements herein are made as at the date hereof,
and unless otherwise required by law, the Company does not intend,
or assume any obligation, to update these Forward-Looking
Statements.
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
the accuracy of this news release.
SOURCE Flinders Resources Limited