Canadian junior miners are making their voices heard Thursday, with the stage all to themselves, not having to compete with their more aggressive American neighbours.
Montreal-based SRG Mining Inc. (TSX-Venture:SRG) made some noise with the results of its Feasibility Study for the development of the Lola graphite project in the Republic of Guinea, West Africa.
All financial figures are in United States dollars.
The study includes an updated resource calculation, which follows the Company's 2018 drilling campaign, bringing the total resource to 46.0 million tonnes ("Mt") of measured and indicated resources grading 4.09% graphitic carbon ("Cg").
The report is that the mine should enjoy average annual production of 54,600 tonnes of graphite flakes over a 29-year mine life, not to mention proven and probable reserves of 42.0Mt @ 4.17% Cg.
The whole thing should cost $123 million including a power plant of $5.8 million, concentrate transport equipment of $3.6 million, and contingency of $12 million.
All of this created a lot of excitement for investors, who bid up the stock’s price eight cents Canadian, or 9.8%, as the clock approached noon on Thursday, to 90 cents Canadian, on moderate volume of 56,000 shares.
