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Canada Carbon Inc. (TSXV:CCB) clarified disclosure in its corporate presentations dated January 2015 and February 2015, which may have contained misleading information. The Company also announced that it will contract Tetra Tech WEI Inc. to complete a Preliminary Economic Assessment on the Miller Graphite Project. Canada Carbon is also in the process of applying for the required permits for the extraction of graphite and marble, and has started the permitting process to operate a graphite milling operation on the Asbury graphite project.
Canada Carbon has removed the corporate presentation from its website, and deleted the remarks in question upon receipt of a letter from the Ontario Securities Commission. The Company also announced that it will contract Tetra Tech WEI Inc. to complete a Preliminary Economic Assessment on the Miller Graphite Project. Canada Carbon is also in the process of applying for the required permits for the extraction of graphite and marble, and has started the permitting process to operate a graphite milling operation on the Asbury graphite project.
As quoted in the press release:
Restricted Disclosure of Economic Analysis
NI 43-101 restricts the disclosure of the results of an economic analysis prior to completing at least a Preliminary Economic Assessment based on at least inferred mineral resources to support the disclosure.
The Company’s corporate presentations dated January 2015 and February 2015 contained statements which may have been potentially misleading, in that they related to topics such as forecast production rates, operating cost estimates, potential product sales, and potential years of mine life. Given that the Company’s April 25th, 2014 technical report on the Miller graphite property does not address mineral resources, it is potentially misleading for the Company to disclose information related to anticipated economic viability and planned production.
Upon receipt of the comment letter from the Ontario Securities Commission, the Company immediately removed the corporate presentation from its website, and deleted the remarks in question.Commissioning of Preliminary Economic Assessment (PEA)
The Company is pleased to report that it will immediately contract engineering and technical consulting firm Tetra Tech WEI Inc. to complete a Preliminary Economic Assessment on its Miller graphite project, which will incorporate the pilot plant scale flotation concentration flow sheet developed for the Company by SGS (Lakefield). SGS Geostats of Blainville, Québec has been contracted to produce a Technical Report which will provide marble and graphite resource estimates (press release dated February 19th, 2015). The Company is in the process of applying for the required permits for the extraction of graphite and marble at its Miller hydrothermal lump/vein graphite project. The Company has also begun the process of obtaining permits to operate a graphite milling operation on its Asbury graphite project, situated close to the Miller project in southern Quebec.
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