Northern Graphite Completes Preliminary Economic Assessment on Relocating Processing Plant for Namibian Operations
Ottawa, Ontario--(Newsfile Corp. - August 28, 2023) - Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the "Company" or "Northern) is pleased to announce the results of a new preliminary economic assessment ("PEA") that evaluated moving the processing plant for its Namibian operations located at Okorusu to the Okanjande mine rather than rehabilitating the mill in its current location.
- The PEA indicates that economics remain attractive under the new plan, with higher capital costs but lower operating costs.
- In addition, greenhouse gas ("GHG") emissions are reduced, sustainability is improved, and the expansion potential of the project is substantially enhanced.
- This allows for a more sustainable operation that also includes the use of solar power and lower water consumption.
- The Okanjande/Okorusu operation is currently on care and maintenance and the goal remains to restart production in late 2024, subject to financing.