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Big North Graphite (TSXV: NRT) signed a Letter of Intent to acquire 100% of the Duncan Kerr Property

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Big North Graphite has signed a Letter of Intent to acquire 100% of the Duncan Kerr Property and related production facilities and equipment. The 32 hectare Duncan Kerr Property, a past producing silver and cobalt property, is located in the Cobalt region of Ontario.

Additional Information:

Company: Big North Graphite
Website: http://www.bignorthgraphite.com
Stock Symbol: TSXV: NRT
Date Published: Oct 4, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Big North Graphite has signed a Letter of Intent to acquire 100% of the Duncan Kerr Property and related production facilities and equipment. The 32 hectare Duncan Kerr Property, a past producing silver and cobalt property, is located in the Cobalt region of Ontario.

The property hosts parts of the past producing Kerr Lake Mine, and the Lawson Mine, which collectively produced an estimated 32.7 million ounces of silver, which represent just two of the numerous past producing mines that have operated over the past century in the Cobalt Camp.

Ore minerals occur in a wide variety of forms including massive pods, bands, dendrites, plates, leaves, and zoned rosettes.

Spiro Kletas, President and CEO, stated: “With the global expansion of the lithium battery industry, cobalt has become a strategic metal making this a very significant acquisition for us. Advancing a past producing opportunity in the historical Cobalt Mining Camp will not only give a new direction for us, but also build shareholder value as we look to further develop the asset in a sector which is poised to experience great growth and demand in the foreseeable future.”

Cobalt is an essential component of the Li-ion (lithion ion) batteries found in most small electronic devices such as mobile phones, laptops and digital camera,

The acquisition is subject to a number of conditions, including regulatory approvals.

The shares are trading at $0.215 and with 47.6 million shares outstanding, the company is capitalized at $10.2 million.

For more information, please contact Spiro Kletas, President and CEO, at 604-723-0710 or email info@bignorthgraphite.com. The company’s website www.bignorthgraphite.com is currently under construction to reflect the new changes.

I’m Samantha Deutscher for Investmentpitch Media