Tuesday, February 16, 2021
10:11 AM EST – Ceylon Graphite Corp. : Announced today that it is ready to resume production at its K1 site, marking a return to normal operating levels pre-COVID 19 disruptions which interrupted mining activity twice in 2020/21. Ceylon Graphite is one of the few producing graphite companies in the world, outside of China and one of a very few with access to high grade vein graphite with average purity >90% Cg, a grade level which eliminates the need for an expensive primary upgrading plant commonly required for flake graphite found in most parts of the world. The Company has completed the planned upgrades to the shaft at the K1 mine. These include the installation of new structural supports in the development drifts (tunnels) to 160 feet, a new compressor and improvement to the ventilation systems within the K1 mine. The mine is now capable of achieving 5,000 tons of production per annum. “Production will scale over 2021 and beyond,” said Bharat Parashar, Chief Executive Officer and Board Chair of Ceylon Graphite. “The company expects, and has previously announced, it will reach a sustainable run rate of 5,000 tons per mine, with K1 being the first to hit that target.” Ceylon Graphite Corp. (V.CYL) shares were up 2 cents at 0.43.
Stocks in Play: Ceylon Graphite Corp., Tue, 16 Feb 2021 10:15:02 EST