GREAT LAKES GRAPHITE ANNOUNCES PURCHASE ORDERS FROM HI-TECH CUSTOMER

Sep 12, 2016

Great Lakes receives two orders from Cdn tech outfit

2016-09-12 09:32 ET – News Release

Mr. Paul Gorman reports

Great Lakes Graphite Inc. has received two new purchase orders from a Canadian-based technology development firm. The purchase orders represent the company’s first commercial sale of a high-purity micronized natural flake graphite product and secondly, the company’s first customer in the avionics sector. The company believes that these developments are notable to the extent that they represent the progress being made on transitioning the company to a commercial enterprise.

Great Lakes Graphite chief executive officer Paul Gorman said: “We are excited to be working with our first customer in the avionics sector and are extremely encouraged by the feedback that we continue to receive as we make our initial forays into the growing, value-add graphite market. While they have asked us to keep the specifics about the application confidential, what we can say is that the customer is seeking a source of consistently high-quality, high-purity micronized flake graphite for a demanding technological application.”

Senior vice-president of sales Mike Coscia added: “Graphite products are priced across a broad spectrum based on quality, the amount of engineering required and other considerations. High-technology applications require premium value material due to their exacting size and purity requirements. In this instance, the customer is looking for chemistries that requires extremely small particle size and extremely high purity. Based on the terms of this sale and discussions with this customer and other prospects who are qualifying this material, we anticipate pricing for this specific material to average $3,500 (U.S.) per ton.”

About Great Lakes Graphite

Great Lakes Graphite is an industrial minerals company focused on bringing value-added carbon products to a well-defined market.

The company is party to an agreement for shared use of a portion of an industrial facility located in Matheson, Ont., owned by Northfil Resources Ltd., as well as for supply of high-quality natural graphite concentrate (see news release dated March 23, 2015), which have positioned Great Lakes Graphite to become an emerging domestic manufacturer and supplier of micronized products to a growing regional customer base where pricing and demand continue to rise.