Northern Graphite To Announce Offtake Soon? Sounds like Northern Graphite is going to announce an offtake as part of their financing soon. Drill results came out today (pretty good pop in the share price) so it appears to be getting close. A new resource estimate (N43-101) based on the drill results is expected to be completed by the end of March. The existing mine plan will then be revised and BFS economics updated and released within a couple weeks thereafter. It is anticipated that the revised mine plan will show an increase in grade, a reduction in costs and a much longer mine life. The Mine Closure Plan permit is expected within the same timeframe so construction of the mine should commence this spring/summer with production on track for next year.
"Having already completed a bankability study, the company plans to release additional drill results and a new resource estimate within the next couple of weeks.
In addition, the company is hoping to quickly secure the permits it needs for construction of a $100 million graphite mine.
“We expect to have an offtake agreement and a strategic partner as part of the process,’’ said spokesman Greg Bowes."
Obviously the name of the strategic partner and announcement of the offtake agreement as part of the financing for mine construction will "rock" the graphite world.
Will be interesting to see how it affects FMS, FDR, ZEN, et al.