Twitter Facebook LinkedIn YouTube

Elcora Advanced Materials (TSXV: ERA) completed its first shipment of processed Graphite

Video Platform Video Management Video Solutions Video Player

Elcora Advanced Materials completed its first shipment of processed graphite, originally extracted from its Ragedara mine in Sri Lanka. In early 2014, Elcora Advanced Material acquired the full operational control and a 40% equity interest in Sakura Graphite (PVT) Limited, who operates the Ragedara mine.

Additional Information:

Company: Elcora Advanced Materials
Website: http://www.elcoracorp.com
Stock Symbol: TSXV: ERA
Date Published: Oct 4, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Elcora Advanced Materials completed its first shipment of processed graphite, originally extracted from its Ragedara mine in Sri Lanka. In early 2014, Elcora Advanced Material acquired the full operational control and a 40% equity interest in Sakura Graphite (PVT) Limited, who operates the Ragedara mine.

Elcora introduced many advanced mining techniques to this operation and brought in the North American operating standards.

At present time, the mine is in production and yields about 500 tonnes of graphite per year.

Graphite from the mine is found in high purity aggregates of crystals.

Troy Grant, President and CEO, stated: "Our first shipment represents our most significant milestone to date. It validates our strategy of becoming a vertically-integrated producer of graphite and our 10-year agreement of working closely with thyssenkrupp Metallurgical Products. This first shipment now paves the way for us to generate cash flow from operations."

Elcora has developed processes to refine graphite with much higher yield of graphene, together with a unique low cost effective process to make graphene that is commercially scalable.

The proprietary technology used at the Sri Lanka processing plant requires no acids or alkaline systems and results in no environmentally damaging productions, by products or waste, making Elcora one of the most environmentally friendly graphite producers.

The company also announced that it is increasing its workforce at its processing plant to increase production and meet product demand.

There is currently more than one thousand tons of extracted graphite waiting to be processed.

However, management cautioned that while the company is confident with its production decision it is not basing its production decision on a feasibility study of mineral reserves to demonstrate economic and technical viability.

The production decision involves increased uncertainty and various technological and economic risks.

The shares are trading at $0.33 and with 72.3 million shares outstanding, the company is capitalized at $23.9 million.

For more information, please visit the company’s website www.elcoracorp.com, contact Troy Grant, President and CEO, at 902-802-8847 or email info@elcoraresources.com.

I’m Samantha Deutscher for Investmentpitch Media