Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Raymor Resources (Alberta Stock Exchange:RAR) -- Ignore unavailable to you. Want to Upgrade?

To: RenT Asselin who wrote (13)	6/17/1999 8:55:00 AM
From: topstock	Read Replies (1) \| Respond to of 16

PRESS RELEASE: biz.yahoo.com Thursday June 17, 7:36 am Eastern Time Company Press Release Promising cost effectiveness of the lithium metal production process Raymor Resources Ltd.: Alberta Stock Exchange, ticker symbol ''Rar'' Ticker symbol: ''RAR'' QUEBEC CITY, June 17 /CNW-PRN/ - Raymor Resources is pleased to announce the results from the assessment of the process used to produce lithium metal directly from spodumene. Exceptional returns have been calculated by the mining consultant firm, Bumigeme Inc. This firm is represented by Florent Baril, a metallurgical engineer who has cumulated 40 years of experience, 20 of which as metallurgical process consultant. Mr. Baril is also supervising the pilot project being carried out at the CRM (Centre de recherche minerale du Quebec) for the production of spodumene and byproducts (mica, quartz, and feldspar (phase 1 of the lithium project), which should be the subject of an other press release shortly. Mr. Baril has been consultant for the Raymor Resources Ltd. lithium project since 1996. Production Investments Gross Income Net Income Equity IRR(x) ---------- ----------- ------------ ---------- ------ ------ Lithium ------- metal ----- 50 tons/year CAN$10.6 M CAN$ 6.92 M CAN$3.58 M 100% 31.64% 100 tons/year CAN$16.1 M CAN$13.84 M CAN$8.3 M 100% 50.73% (x) Internal rate of return: calculated from equity (invested capital) for the project funding over a ten-year period. It is important to specify the an IRR of more than 20% is considered as highly effective, and the project could be funded easily. The process that will be used is different from currently used techniques in that it enables us to produce lithium metal directly from spodumene, thus making it possible to eliminate the lithium project phase 2 (lithium carbonate), and to reduce significantly production costs. Up to now, details about the lithium metal used in the ACEP lithium cell designed for the electric car market were provided to us by Hydro-Quebec. Prefeasibility studies at the cost of $375 000 are already under way and will go on for a period of four months. The purpose of these studies is to determine the capacity to produce lithium metal (50 to 100 tons/year), and to adapt the process to the spodumene from our lithium deposit of the La Motte property, which is entirely owned by Raymor Resources Ltd. (project phase 1). The industrial subsidiary to be created by RAR will benefit from an exclusive worldwide licence for the use of the high-tech metallurgical process for lithium metal production. This process will be patented. Raymor Resources Ltd. will also have a right of first refusal concerning the application of the process to all other metals and minerals. Presently, the company is negociating a major industrial partnership to fund operations and patent costs. So far, we are very proud of our project goal achievements. Besides, our objective is to limit to the minimum share capital issues for the company's activity and project funding. Raymor Resources Ltd. counts only 14.7 millions of shares issued on December 31, 1998. Source Raymor Resources Ltd. Regards, TOPSTOCK