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Ceylon Graphite Announces First Commercial Sale of 95-97% Natural Graphite
VANCOUVER, British Columbia, June 02, 2020 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to anno
About this update from Ceylon Graphite Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, June 02, 2020 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to announce its first sale of graphite from its wholly owned subsidiary, Sarcon Development (Pvt) Ltd (“Sarcon Development”), since the commencement of commercial production in December 2019. The sale, which was for 1 ton of vein graphite with Carbon content of 95-97%, was to 2D Materials Pte Ltd (“2D Materials”) of Singapore. 2D Materials purchased the graphite to evaluate it for its graphene production needs. The shipment is expected to ship immediately. “We are excited by this first order,” said Bharat Parashar, Chief Executive Officer. “We know from our own testing and the historical record of Sri Lankan graphite that we have a high-quality vein graphite. This is the next step in accelerating our production rate to enable us to fulfill the needs of multiple customers.” Sri Lankan graphite is recognized as amongst the purest in the world, which combined with a low cost of production, makes it ideal for many uses, most notably when upgraded to battery-grade graphite for lithium ion batteries and for the burgeoning market of graphene applications. Ceylon Graphite’s K1 mine entered commercial production in December 2019 with exploration continuing at its other selected sites. Sarcon Development has control of 121 Grids in Sri Lanka. About 2D Materials Pte Ltd. 2D Materials manufactures high performance graphene as an industrial additive to enhance the properties of many industrial materials such as paints & coatings, batteries, composites, polymers and lubricants. The company’s mission is to expand the frontier of materials application through the use of high-performance graphene. They are a spin off company from the National University of Singapore and the founders and advisors are among the foremost internationally renowned experts in the graphene and materials field. About Ceylon Graphite Corp. Ceylon Graphite is a public company listed on the TSX Venture Exchange that is in the business of exploration and development of graphite mines in Sri Lanka. The Government of Sri Lanka has granted the company exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the e...