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South Star Battery Metals Announces Corporate Update including Santa Cruz Graphite Mine Phase 1 Construction Update
Highlights: Santa Cruz Phase 1 construction is on budget and on schedule through end of Apr...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"South Star Battery Metals Announces Corporate Update including Santa Cruz Graphite Mine Phase 1 Construction UpdateHighlights:Santa Cruz Phase 1 construction is on budget and on schedule through end of April with commercial production planned for the EOY 2023.Drilling at BamaStar to support NI 43-101 Preliminary Economic Assessment (\"PEA\") mobilized May 15th, 2023 for a 2 month diamond drilling program.South Star is reviewing proposals for the NI 43-101 preliminary economic assessment (\"PEA\") scheduled for end of Q1 2024.South Star will participate in 121 Mining Investment Conference in New York and Benchmark Gigafactories USA conference in Washington DC.South Star has hired a new market making service provider.Closing of private placement.VANCOUVER, BC / ACCESSWIRE / May 23, 2023 / South Star Battery Metals Corp. (\"South Star\" or the \"Company\") (TSXV:STS)(OTCQB:STSBD), is pleased to announce a Phase 1 construction update for the Santa Cruz Graphite Mine in Bahia Brazil, as well as providing a general corporate update.Richard Pearce, CEO of South Star commented, \"Santa Cruz construction on the Phase 1 plant and mine installations continues on budget and on schedule through the end April 2023. BamaStar is moving forward. The same drillers we used on the maiden resource program at BamaStar mobilized May 15th for a 2-month diamond drilling campaign in support of the upcoming PEA, which will present our 5-7 year strategic plan of two mines producing a 100,000 tonne per year (\"tpy\") of high quality concentrates and 60-70,000 tpy of value-add and battery anode materials. South Star has two scalable assets in strategic, stable, mining-friendly jurisdictions and the team to build and operate them in a safe responsible manner in partnership with communities and stakeholders. It's happening at the perfect time, when supply is constrained and demand is growing exponentially. This dynamic is expected to place significant pressure on the graphite price in 2023 and for the foreseeable future. Santa Cruz will be the first new graphite producer in the Americas since 1996, and BamaStar is expected to be producing in 2027.\"Santa Cruz Construction and Licensing UpdateConstruction through the end of April 2023 is on schedule and on budget for Phase 1 commercial production at the EOY 2023. Q2 2023 the main work programs include:Civil con...