EORBF Orbite Technologies Inc (CE)

MONTREAL, QUEBEC--(Marketwired - Jan 29, 2014) - Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Corporation"), announced today its first update on the construction and optimization activities of its high purity alumina ("HPA") production facility located in Cap-Chat, Québec.

As disclosed in previous press releases, Orbite still anticipates a 12-month execution timeline following the recent raising of the necessary capital (see December 10, 2013 press release), comprised of the following general phases:

• Design review of the HPA facility, expected to be completed by April 2014 (3 months);
• Ordering and delivery of long lead items, including the calcination equipment, and detailed engineering for the upcoming construction (6-7 months);
• Installation / construction and start-up period (2-3 months).

Orbite has selected engineering firms Seneca, previously involved in the design, construction, and operation of Orbite's pilot facility and familiar with its production technology, together with Groupe Alphard, responsible for construction management of the HPA facility.

To date, and according to plan, Orbite has initiated:

• the design review of the HPA facility, based upon performance to date;
• design optimization of different sections of the purification unit based upon pilot testing at Orbite's technology development center in Laval;
• pilot testing of decomposition and calcination by two prospective suppliers of this equipment. The selection of the supplier and placement of the order will be confirmed by March 2014;
• the detailed design of sections of the purification unit;
• the evaluation of requirements to increase production capacity from 3 tpd to 5 tpd (Phase 2a). Incremental capital costs and schedule are expected to be reported in the second half of 2014.

Orbite also plans to commence the preliminary engineering for the conversion of the extraction plant to the chloride technology in the third quarter of 2014 (Phase 2b). Conversion to Orbite's chloride technology along with the addition of a scandium and gallium extraction unit is expected to be completed in 2015. The chloride-based extraction process is the technology platform for the production of smelter grade alumina (SGA), the treatment of industrial wastes such as Red Mud and Fly Ash, and the production of other by-products such as hematite, magnesium oxides and silica including rare earth and rare metal oxides.

About Orbite

Orbite Aluminae Inc. is a Canadian cleantech company who's innovative and proprietary processes are expected to produce alumina and other high-value by-products, such as rare earth and rare metal oxides, at one of the lowest costs in the industry, and in a sustainable fashion, using feedstocks that include aluminous clay, kaolin, nepheline, bauxite, red mud and fly ash. Orbite is currently finalizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Québec and has completed the basic engineering for a proposed smelter-grade alumina (SGA) production plant, which would use clay mined from its Grande-Vallée deposit. The Corporation's intellectual property portfolio contains 15 intellectual property families, and the Corporation owns the intellectual property rights to 10 patents and 58 pending patent applications in 10 different countries and regions. The first intellectual property family is patented in Canada, USA, Australia, China, and Russia. The Company also operates a state of the art technology development center in Laval, Québec, where its technologies are developed and validated.

Forward-looking statements

Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, forward-looking information may include statements regarding projects, costs, objectives and future returns of the Corporation or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Corporation management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation's control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on November 14, 2013 on www.sedar.com.

The Corporation does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.

TMX EQUICOMMark LakmaakerExternal Investor Relations Consultant1-800-385-5451 ext. 248mlakmaaker@tmxequicom.comFor Media Inquiries:TMX EQUICOMShaun SmithExternal Media Relations Consultant1- 800-385-5451, ext. 252ssmith@tmxequicom.com

Orbite Technologies (CE) (USOTC:EORBF)
Historical Stock Chart
From Dec 2024 to Jan 2025

Orbite Technologies (CE) (USOTC:EORBF)
Historical Stock Chart
From Jan 2024 to Jan 2025