BAIE-COMEAU, Quebec, Nov. 05, 2019 (GLOBE NEWSWIRE) -- Over 500 people attended the monitoring committee’s fifth public meeting for the Lac Guéret project held on October 29th. It was the highest turnout observed so far, which confirms the interest and the regional support toward the project.
Ongoing Interest in the Project
The initial aim of this meeting was to present the most recent work done by the monitoring committee. However, it was questions from the thirty or so citizens present and the approximately 470 people following the event live on Facebook that occupied the evening. The video is still available for viewing on Mason Graphite’s Facebook page.
“We are pleased with the citizens’ high level of interest and enthusiasm regarding the Lac Guéret project. We are aware that the scope of such a project requires a great deal of preparation, consultation, and monitoring. It’s important for our team to offer opportunities to stakeholders to be kept informed on an ongoing basis,” says Jean L’Heureux, P. Eng., M. Eng., Executive Vice President, Process Development.
At the operational level, the Company confirmed that 75% of the engineering work has been completed. The Company has also received its main process equipment, which could have taken up to a year for delivery, and are currently being stored in Baie-Comeau. Mason Graphite also reported on the revised layout of the mine infrastructure, which improves water management and environmental protection without impacting the project’s budget. Additionally, the Company explained that it obtained several new permits and that construction is ready to begin as soon as financing is completed. Among these permits, the Company currently holds one for preparatory work at the concentrator site in Baie-Comeau and another for the relocation of waste rock piles at the mine site. As for financing, following the $45M raised in early 2018 and the $28M raised through the sale of NanoXplore Inc. shares, Mason Graphite stated that it was on the right track and discussions remain ongoing. The Company reiterated the importance of completing its financing by teaming up with financial partners who share our vision.
During the monitoring committee’s working session held prior to the public meeting, the members of the committee reviewed the Guide des bonnes pratiques sur les comités de suivi et obligations légales des promoteurs pour des projets miniers et d’hydrocarbures (which could translate to “Guide to Good Practices for Monitoring Committees and the Legal Obligations of Promoters of Mining and Hydrocarbon Projects”) that was recently issued by the Ministry of Energy and Natural Resources (MERN). Following this analysis, Mason Graphite is pleased with and proud of the positive results of its practices and those of the monitoring committee, which respect and often exceed the recommendations issued by the MERN. Actions of the Company are concrete contributions to fulfill its commitments which, in turn, strengthens local communities’ ownership of the project.
The monitoring committee’s mandate is to help assess the project’s social and environmental performance, to ensure the Company’s sustainable development commitments are met, and to optimize the benefits for the community. This committee, which meets four times a year and has 13 members, was set up in July 2018. These three factors far exceed what is required by law, which stipulates that a committee, with a minimum of 4 members, must be established within 30 days of obtaining a mining lease and must meet once a year.
Mason Graphite would like to thank Josée Parisée for her significant involvement and contribution since the committee’s establishment in 2018. Following her departure from the leadership of the Manicouagan Chamber of Commerce, Antonio Hortas, President of the Manicouagan Chamber of Commerce, will replace her within the monitoring committee.
About Mason Graphite and the Lac Guéret Project
Mason Graphite is a Canadian mining and processing company focused on the development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com.
Consent of the Qualified Person
Jean L'Heureux, Eng., M. Eng., Executive Vice President, Process Development for Mason Graphite, and a Qualified Person, as defined by NI 43-101 for Mason Graphite, was responsible for the audit of data presented in this press release and read and approved it.
Ana Rodrigues, Executive Assistant
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