Big North Graphite Drops El Tejon Option

Big North Graphite Corp. (TSXV:NRT) announced that it has decided not to proceed with its option on the Mexico-based El Tejon project.
As quoted in the press release:

As a result of falling graphite prices, currently at a four year low, and current market conditions, the Company is unable to maintain property payments and to move the El Tejon project forward. Pursuant to the terms of the acquisition agreement, the Company is in the process of returning the El Tejon property to the vendors, at which time, Big North will have no further obligations or liabilities with respect to the El Tejon project.
Future plans will be released to the market as they are finalized by the Board of Directors.

Click here to read the full Big North Graphite Corp. (TSXV:NRT) press release.