Northern Graphite Strikes Financing Deal for Equipment with Caterpillar

Northern Graphite Corporation (TSXV:NGC) announced that it has already signed the term sheets with Caterpillar Financial Services Corp. in order to fund the purchase of Cat mining and Cat power equipment in the amount of US $17.5 million. The equipment will be used for the company’s graphite project in Bissett Creek.

As quoted in the press release:

The equipment financing facility will cover the cost of the mobile mining fleet and the purchase and installation of natural gas powered generators including the engineering, procurement and construction management related thereto. The Company’s recently completed feasibility study contemplated mining being carried out by an independent contractor. By buying and operating its own mining fleet, the Company anticipates that it will reduce operating costs by in excess of US$50/t per tonne of concentrate produced. Closing of the financing facilities is subject to customary conditions including due diligence, satisfaction of conditions precedent, internal Cat Financial credit approval and negotiation and execution of definitive legal documentation.

Click here to read the full Northern Graphite Corporation (TSXV:NGC) press release.

Get the Latest Graphite Investing Stock Information

Get the latest information about companies associated with Graphite Investing delivered directly to your inbox.

Graphite Production/Mining
Graphite Prospecting and Exploration
Graphite Resource Definition/Pre Feasibility
Graphite Resource Expansion/Feasibility Study/PEA

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

"Did you know graphite is as tough as diamonds, but its unique structure makes it light, soft, and highly resistant to heat as well?"

Find out everything an investor needs to know about graphite investing. Click below to download a FREE industry report on the graphite market.

Leave a Reply