Applied Graphite Technologies Acquires the Queens Mine
The former operator had done extensive laboratory testing on its run-of-mine ("ROM") tonnes which consisted of high-grade graphite +95 Cg. Vein graphite direct from the mine will sell for
AGT plans on making the QMC a priority to re-commence bulk shipping of the high-grade vein graphite material once it has completed its mine permitting and development on the prospect.
"We are extremely pleased to have acquired the QMC, thanks to our strategic in-country relationships," comments
Options Granted
AGT has granted 800,000 stock options at an exercise price of
Applied Graphite Technologies is developing the
The technical information in this news release has been prepared by
Neither
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about Applied Graphite Technologies (AGT) 's grids, plans to undertake additional drilling and to develop a mine plan, and to commence establishing mining operations. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to AGT , including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various Local Government Licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, an inability to reach a final acquisition agreement, inaccurate results from the drilling exercises, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime, a failure to comply with environmental regulations and a weakening of market and industry reliance on high quality graphite. AGT cautions the reader that the above list of risk factors is not exhaustive.
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