Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Leading Edge extends Woxna licence for 25 years

Monday, January 9, 2017 13:41
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Leading Edge Materials Corp (CVE:LEM) shares jumped more than 10% on Monday as the company said it had extended its exploitation licence at Woxna graphite mine in Sweden for a quarter of a century.

The exploitation licence for the Woxna graphite mine was up for renewal in early 2017, and an application for a 25-year extension was submitted to the mining inspectorate of Sweden earlier this year.

“This is the first milestone in our re-permitting process for an expanded operation. This exploitation licence security enables us to continue our graphite strategy to expand into the supply of high-purity graphite for the burgeoning electric vehicle and energy storage markets,” said Blair Way, president and chief executive officer.

An exploitation concession gives the holder the right to exploit an extractable mineral deposit for a period of 25 years, which may be extended a further 25 years. Leading Edge Materials’ exploitation and environmental permits for the Woxna graphite mine and processing facility were issued by the mining inspectorate in 1992. The application for a 25-year extension was submitted earlier this year, and the extension was granted in early November and took full legal effect at the end of December.

Leading Edge Materials was formed in August 2016 via the merger of Tasman Metals Ltd with Flinders Resources Ltd. 

Leading Edge shares were up 10.2% at C$0.54 on Monday.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/171358/leading-edge-extends-woxna-licence-for-25-years-171358.html

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.