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Be the first with the news that moves the marketLomiko Metals’ (TSXV:LMR) CEO, Belinda Labatte, talked to Sonia Madigan from The Market Herald about the company’s ongoing work at the La Loutre Project in Quebec.
The project’s recently completed preliminary economic assessment indicated a mine life of 15 years producing 100,000 tonnes of graphite concentrate every year with an expected 95 per cent curium rate. The company is expecting this to total roughly 1.5 million in graphite concentrate.
A pre-feasibility study of La Loutre is still ongoing, but the company’s studies are showing a high-quality 99.9 per cent purified product that can be sold into the anode market.
The mine plan includes 21.9 million tonnes of mill feed and 88.4 million tonnes of waste over the project’s life. Lomiko’s mine planning is based on conventional open pit methods suited for the project location and local site requirements. Owner-operated and managed open pit operations are anticipated to begin prior to mill start up.
Although, Lomiko is experiencing financing challenges given the company’s size and recessionary fears happening in global markets. It stated it must find ways to self-finance from the drilling stages all the way to production.
The company stated it is open to government partnerships and funds, and similar relationships with other firms, cornerstone investors, end user battery manufacturers, and auto makers.
According to Lominko, another major challenge will be to ensure the nearby community knows that mining can make a mutually beneficial and positive impact.
