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Stem 7 Signs Agreement to Acquire 100% Interest in Santa Cruz Graphite Project; Concurrent Project Financing Announced
(via TheNewswire) October 23 rd , 2017 / TheNewswire / Vancouver, B.C. - Stem 7 Ca...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"Stem 7 Signs Agreement to Acquire 100% Interest in Santa Cruz Graphite Project; Concurrent Project Financing Announced(via TheNewswire)\n \n \nOctober 23rd, 2017 / TheNewswire / Vancouver, B.C. - Stem 7 Capital Inc. (\"Stem 7\" or the \"Company\") (TSXV: STS.H) is pleased to announce (further to an announcement made on June 29th, 2017) that it has entered into a binding Definitive Agreement (the \"Agreement\") with Brasil Graphite Corp. to acquire a 100% interest in the advanced-stage Santa Cruz Graphite Project in the Bahia State of Brazil (\"Santa Cruz\"). The Santa Cruz project is the subject of a recently completed NI43-101 Preliminary Economic Assessment (\"PEA\") which indicates a 78 percent after tax Internal Rate of Return ('IRR\"). The Company also announces a private placement of units to raise up to C$6,000,000 to fund the acquisition and development of Santa Cruz.\n\n\n \nThe Company believes that the Santa Cruz Graphite Project offers several distinct advantages over other graphite projects including excellent infrastructure and location, low capex and opex, and significant resource expansion potential. In addition, the resource has excellent granulometry with approximately 63% of the graphite concentrate produced in pilot plant testing being the more valuable jumbo to large flake sizes (+30, +50 and +80 mesh). Mr. Eric Allison, Chief Executive Officer of the Company stated \"the Company is very excited to be advancing its Brazil focused project development strategy with the completion of these important steps in the acquisition of the Santa Cruz Graphite Project. We firmly believe that the many positive aspects of this first project, coupled with the excellent team we have assembled, are the critical initial building blocks for the Company to achieve its goal of creating long-term shareholder value\".\n\n\n \nAbout the Santa Cruz Graphite Project\n\n\n \nCompany management was attracted to Santa Cruz due to its advanced-stage status as a pre-production graphite project, backed up by a positive NI43-101 Preliminary Economic Assessment that supports the need for further studies to evaluate and advance the project's potential. The Company has filed a copy of the PEA for Santa Cruz with the TSX Venture Exchange (the \"Exchange\") and will file the PEA on Sedar within 45 days of this news release. \n\n\n \nThe PEA will ...