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Elcora Resources Shareholder Update on Sakura Graphite Project
(via Thenewswire.ca) COLOMBO, SRI LANKA / TNW-ACCESSWIRE / July 29 2014 / Troy...
About this update from Elcora Advanced Materials Corp.
[{"type":"text","content":"Elcora Resources Shareholder Update on Sakura Graphite Project(via Thenewswire.ca)\n \n \nCOLOMBO, SRI LANKA / TNW-ACCESSWIRE / July 29 2014 / Troy Grant, President and CEO of ELCORA RESOURCES CORP. (TSXV : ERA), (the \"Company\" or \"Elcora\"), is pleased to provide the following update on its Sakura graphite project.\n\n \n \nIn June 2014 Elcora closed its acquisition of a 40% interest in Sakura Graphite (PVT) Ltd. (\"Sakura). (see news releases May 13 and June 30, 2014.) The Sakura acquisition was a major step towards achieving the Company's primary corporate development objective of becoming a vertically integrated graphite producer. \n\n \n \n\"Analysts continue to forecast robust and growing worldwide demand for graphite\" commented Elcora President Troy Grant, \"and having a 'first-mover' advantage on graphite delivery is an important distinction from potential competitors and for potential clients. What has become evident over the course of discussions with various groups is the importance that is placed by industrial and other buyers on obtaining a high-grade graphite product that has been subjected to limited processing or refining, from a mine in recognized graphite-producing region with a history of production. That, as well as consistent grade delivery and straightforward metallurgy, provides valuable certainty to both industrial and technology users. Lastly, we are very pleased to have graphite processing and engineering expert Dr. Ian Flint leading the on-the-ground team that is conducting the laboratory tests, selecting the refining technologies and designing the graphite mill circuits.\" \n\n \n \nThe Sakura graphite mine (also called the Ragedera mine or property) is an historic past producer which, at the height of its activity, produced approximately 18,000 tonnes of high quality (92-99% C) graphite. During the three years preceding Elcora's acquisition the Sakura mine was substantially refurbished and is currently operating on one shift per day producing one to two tonnes of high quality graphite per shift aggregating approximately 20 tonnes per month at average at an average cost of US$136 per tonne of graphite. However, there is no established resource nor is there any known body of commercial ore on the property, and no estimates of future production capability or the economics of any extraction activity ...