VANCOUVER, Sept. 21, 2015 /CNW/ - Flinders Resources
Limited ("Flinders" or the "Company") (TSXV: FDR) is pleased to
announce its Swedish subsidiary, Woxna Graphite AB ("Woxna")
has been chosen as an industry partner within Svenskt Grafen
("Swedish Graphene"), a Swedish-government funded program to
research and commercialize the production of graphene from
Swedish-sourced graphite. With a production-ready, fully
permitted graphite mine and processing facility, Woxna is the
natural partner for this program.
Key points:
- In 2013, the European Union launched the Graphene Flagship
Project, a ten-year, €1 billion (US$1.1B) project to research graphene
commercialization. Chalmers University in Gothenburg, Sweden, is the project
coordinator.
- In 2015, Sweden launched SIO
Grafen, a three-year, SEK 54M
(US$6.4M) project aimed at strategic
innovation to commercialize graphene production in Sweden. SIO Grafen is financially supported by
the Swedish government and industry.
- In 2015, SIO Grafen initiated Swedish Graphene, a 2-year,
SEK 2.4M (US$0.28M) project to investigate Woxna's Swedish
flake graphite, and its suitability to produce graphene on an
industrial scale.
- Flinders' partner in Swedish Graphene is 2D Fab AB ("2D
Fab"), a company spin-off from Mittuniversitetet (Mid Sweden
University), who have been conducting graphene research for many
years.
- The Swedish government is providing funding for
http://siografen.se/projekt/svenskt-grafen/ Swedish Graphene.
Swedish Graphene will run until November
2016.
Blair Way, President & CEO
states, "This announcement represents an exciting milestone for
Flinders, placing the Company at the forefront of one of the fast
moving areas of new materials research. The European Union and
Sweden are global leaders in the
research and development of graphene, with a significant research
history and very substantial future funding. Sweden is highly regarded as a
technology-driven industrial economy, and SIO Grafen
cements Sweden's position as a
sustainable leader in the development and commercialization of
graphene.
Flinders is extremely proud to be a part of this leading
technology project to develop graphene from Swedish-sourced
graphite. The partnering of a fully permitted graphite mine
with fully funded graphene research of this scale, makes for a
strong and unique story with the capacity to deliver in
industrially-relevant time frames.
The Swedish Graphene project completes the third link in our
strategy to position Woxna as a leading supplier to the current and
future graphite and graphene industries. Woxna has produced
and sold flake graphite to the traditional refractory sector, and
is currently researching the production of high purity graphite
product with Chinese technology suppliers."
Graphene is the world's thinnest material, extremely light,
strong and flexible. It is also a transparent conductor, combining
electrical and optical functionalities. It is believed the material
will provide unique possibilities for completely new solutions
and collaborations between sectors.
The purpose of the Swedish Graphene project is to produce
graphene from graphite produced in Sweden. The secondary
objective is to find appropriate commercial applications for
Swedish graphene. Woxna, as one of Europe's two graphite mines, and Sweden's only graphite producer, can supply
domestically sourced natural flake graphite which provides a clear
strategic advantage for Sweden.
A mining study to establish the technical feasibility and
economic viability of the Woxna Project has not been completed nor
does the project host a mineral reserve. There is
increased uncertainty and risk of economic and technical failure
should the project proceed to further production. While the
property hosts mineral resources, mineral resources that are
not mineral reserves do not have demonstrated economic
viability.
Woxna and its partner 2D Fab form the first two links in the
graphite to graphene value chain and are the main participants in
the Swedish Graphene project. The partners will seek support
from Swedish industry to evaluate the graphene produced from
Swedish graphite in printing, energy and surface treatment
applications. The next stage of the Swedish Graphene project
is to seek potential industrial users of the graphene for use in a
range of products.
Woxna has already mined and milled in excess of 1,000 tonnes of
natural flake graphite since restarting the facility last year.
High grade large flake concentrate has already been shipped to 2D
Fab. Test work on the Swedish graphite-to-graphene process
has already commenced, with 2D Fab running Woxna natural flake
graphite concentrate through their unique and sustainable
technology that has the ability to produce graphene from natural
flake graphite, water and minimal energy.
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
About Flinders Resources
Flinders Resources is the 100% owner of the Woxna graphite mine
and processing facility located in Sweden. The fully
permitted Woxna facility was restarted in July 2014 and produced natural flake graphite
concentrate until spring 2015. Much of this concentrate
inventory was stockpiled instead of sold due to declining global
flake graphite demand during 2015 that pushed prices to a four year
low. The Woxna processing facility can be restarted very
quickly (a matter of days), but will remain in a "production ready"
status until improved graphite prices return allowing the company
to conserve working capital and work on value adding initiatives
for the processing facility.
About 2D Fab
2D fab is a spin-off from the Mid Sweden University (Miun),
refining the technology to make graphene from graphite developed at
Miun. The technology is scalable and can quickly be scaled up to
make large quantities of graphene.
About SIO Graphen
The Swedish Vinnova funded initiative "SIO grafen" promotes
graphene innovations at the national level. The goals of SIO
Graphen are to increase the technical maturity of the graphene, and
establish graphene as a new class of materials for solving future
challenges and to strengthen the transfer of knowledge between
different industries and between companies, universities and
institutes. The program will establish Sweden as one of the leading innovative
countries in the graph, develop and introduce new value chains and
enable Swedish graph-based products reach the market by 2017.
It is funded in part by VINNOVA, Formas and the Swedish
Energy Agency
About the Graphene Flagship Program
The Graphene Flagship is the EU's biggest ever research
initiative. With a budget of €1 billion, it represents a new form
of joint, coordinated research on an unprecedented scale. The
Graphene Flagship is coordinated by Chalmers University of
Technology, Gothenburg,
Sweden.
The Graphene Flagship is tasked with bringing together academic
and industrial researchers to take graphene from the realm of
academic laboratories into European society in the space of 10
years, thus generating economic growth, new jobs and new
opportunities.
Launched in 2013, the Graphene Flagship is tasked with bringing
together academic and industrial researchers to take graphene from
the realm of academic laboratories into European society in the
space of 10 years.
http://graphene-flagship.eu/?page_id=5#.VeVU5el45Hs
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