BAIE-COMEAU, Quebec, Nov. 05, 2019 (GLOBE NEWSWIRE) -- Over 500 people attended the monitoring committee’s fifth public meeting for the Lac Guéret project held on October 29th. It was the highest turnout observed so far, which confirms the interest and the regional support toward the project.
Ongoing Interest in the Project
The initial aim of this meeting was to present the most recent work done by the monitoring committee. However, it was questions from the thirty or so citizens present and the approximately 470 people following the event live on Facebook that occupied the evening. The video is still available for viewing on Mason Graphite’s Facebook page.
“We are pleased with the citizens’ high level of interest and enthusiasm regarding the Lac Guéret project. We are aware that the scope of such a project requires a great deal of preparation, consultation, and monitoring. It’s important for our team to offer opportunities to stakeholders to be kept informed on an ongoing basis,” says Jean L’Heureux, P. Eng., M. Eng., Executive Vice President, Process Development.
At the operational level, the Company confirmed that 75% of the engineering work has been completed. The Company has also received its main process equipment, which could have taken up to a year for delivery, and are currently being stored in Baie-Comeau. Mason Graphite also reported on the revised layout of the mine infrastructure, which improves water management and environmental protection without impacting the project’s budget. Additionally, the Company explained that it obtained several new permits and that construction is ready to begin as soon as financing is completed. Among these permits, the Company currently holds one for preparatory work at the concentrator site in Baie-Comeau and another for the relocation of waste rock piles at the mine site. As for financing, following the $45M raised in early 2018 and the $28M raised through the sale of NanoXplore Inc. shares, Mason Graphite stated that it was on the right track and discussions remain ongoing. The Company reiterated the importance of completing its financing by teaming up with financial partners who share our vision.
Monitoring Committee
During the monitoring committee’s working session held prior to the public meeting, the members of the committee reviewed the Guide des bonnes pratiques sur les comités de suivi et obligations légales des promoteurs pour des projets miniers et d’hydrocarbures (which could translate to “Guide to Good Practices for Monitoring Committees and the Legal Obligations of Promoters of Mining and Hydrocarbon Projects”) that was recently issued by the Ministry of Energy and Natural Resources (MERN). Following this analysis, Mason Graphite is pleased with and proud of the positive results of its practices and those of the monitoring committee, which respect and often exceed the recommendations issued by the MERN. Actions of the Company are concrete contributions to fulfill its commitments which, in turn, strengthens local communities’ ownership of the project.
The monitoring committee’s mandate is to help assess the project’s social and environmental performance, to ensure the Company’s sustainable development commitments are met, and to optimize the benefits for the community. This committee, which meets four times a year and has 13 members, was set up in July 2018. These three factors far exceed what is required by law, which stipulates that a committee, with a minimum of 4 members, must be established within 30 days of obtaining a mining lease and must meet once a year.
Mason Graphite would like to thank Josée Parisée for her significant involvement and contribution since the committee’s establishment in 2018. Following her departure from the leadership of the Manicouagan Chamber of Commerce, Antonio Hortas, President of the Manicouagan Chamber of Commerce, will replace her within the monitoring committee.
About Mason Graphite and the Lac Guéret Project
Mason Graphite is a Canadian mining and processing company focused on the development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com.
Consent of the Qualified Person
Jean L'Heureux, Eng., M. Eng., Executive Vice President, Process Development for Mason Graphite, and a Qualified Person, as defined by NI 43-101 for Mason Graphite, was responsible for the audit of data presented in this press release and read and approved it.
Source :
Ana Rodrigues, Executive Assistant
Phone : +1 514 289 3580
Email : info@masongraphite.com
Head Office : 3030, boulevard Le Carrefour, bureau 600, Laval, Québec, Canada, H7T 2P5
Cautionary Statements
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
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