Mason is Ready to Launch over $1.00.
Mason Graphite lists on U.S. exchange in effort to broaden shareholder base
Tue 10:26 am by Deborah Bacal
The company, which will trade on the U.S. exchange under the symbol "MGPHF", is developing its Lac Gueret graphite property near Baie-Comeau, recently awarding a drilling contract to diamond drilling specialist Foramex, which is based in Quebec, for its upcoming exploration campaign. Mason Graphite () (OTCQX:MGPHF) started trading today on the international segment of the U.S. OTCQX exchange, giving the company greater access to the U.S. capital markets.
The company, which will trade on the U.S. exchange under the symbol "MGPHF", is developing its Lac Gueret graphite property near Baie-Comeau, recently awarding a drilling contract to diamond drilling specialist Foramex, which is based in Quebec, for its upcoming exploration campaign.
"We are very pleased that our shares are now trading on OTCQX. Trading on OTCQX will provide Mason Graphite with a credible and accessible gateway to U.S. based investors and we believe that this is an important step in broadening our shareholder base globally," said president and CEO Benoit Gascon.
The company recently provided investors with an update on its flagship project, saying it plans to complete a number of steps that would de-risk the asset even further in the upcoming months, such as the start of a feasibility study and piloting program.
Mason has come a long way since acquiring the Quebec project in April of last year, completing 26,500 metres of drilling since that time, and providing an NI 43-101 compliant resource and preliminary economic assessment for the property.
In September, the company unveiled some outstanding preliminary results testing the purity of graphite from its project, opening up the size of its potential customer base to applications that require extremely high purity levels. According to a company statement released in late September, Mason announced purities of 99.9% graphitic carbon from preliminary tests using a conventional hydrometallurgical process, improving on results seen in the preliminary economic assessment study. Further larger-scale testing, from which results will be included in the upcoming feasibility study, are underway.
The company's goal is to advance the project with the aim of becoming a graphite producer as quickly as possible. It anticipates wrapping up the feasibility study by the final quarter of next year.