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Eagle Graphite (TSXV:EGA,FWB:NJGN) received a quarry permit from the Province of British Columbia Ministry of Energy and Mines, which approves the work system and reclamation program for its Black Crystal flake graphite deposit near Nelson, BC. The Quarry Permit includes the Hoder Creek Quarry allowance for haul road access, waste and product stockpiles; and exploration of the “Bo Zone” adjacent to the Processing Plant.
Eagle Graphite (TSXV:EGA,FWB:NJGN) received a quarry permit from the Province of British Columbia Ministry of Energy and Mines, which approves the work system and reclamation program for its Black Crystal flake graphite deposit near Nelson, BC. The Quarry Permit includes the Hoder Creek Quarry allowance for haul road access, waste and product stockpiles; and exploration of the “Bo Zone” adjacent to the Processing Plant.
As quoted in the press release:
The Quarry Permit is the material permitting requirement that would allow Eagle to move forward in reactivating the Hoder Creek Quarry and Processing Plant should the requisite financing be available.
Should a commercial production decision be made by Eagle, the Quarry Permit approved the following 5 year production schedule (after which time a subsequent 5 year plan will be submitted for re-approval):
The Quarry Permit and corresponding conceptual production schedule approved by the Ministry of Energy and Mines was based on a conceptual mine plan submitted by management of Eagle and was not based on a feasibility study or economic assessment. Although the Company believes the conceptual production schedule approved by the Ministry of Energy and Mines is reasonable, any commercial production decision made by management would assume inherent increased risks and uncertainty as to the economic and technical viability of the project and there can be no certainty that the schedule will be achieved.
Click here to read the Eagle Graphite (TSXV:EGA,FWB:NJGN) press release