DNI Metals Inc. Adds New Directors, Brian Howlett and John Carter, to Help with the Development of the Vohitsara and Marafody Graphite Deposits
Toronto, Ontario--(Newsfile Corp. - August 30, 2017) - DNI Metals Inc. (CSE: DNI) (OTC Pink: DMNKF) adds new Directors, Brian Howlett and John Carter, to help with the Development of the Vohitsara and Marafody Graphite Deposits. Mr. Carter is currently the CEO of Northern Sphere Mining. Has over 35 years experience in the metals and mining industries. Mr. Carter specializes in the engineering design and manufacturing of mineral processing equipment for mining operations and operators such as Timcal Inc., currently the largest natural graphite mining company in North America. Mr. Carter served as Vice President of Engineering at Saint Jean Carbon, and VP Operations at Canada Carbon both junior mining companies.
John has built over 200 mineral processing plants around the world, including 3 graphite processing plants.
Mr. Howlett is currently the President and CEO of Dundee Sustainable Technologies Inc. and has over 25 years in senior management and financial roles. He has a proven track record of adding value to clients and employers over his career, which included six years as CFO of ELI Eco Logic Inc., a Toronto Stock Exchange listed company. He also serves on the Board of Directors of Nighthawk Gold Inc., a TSX Exchange listed gold exploration company as well as several junior companies. Mr. Howlett graduated with a B. Comm from Concordia University in 1983 and received his CMA designation in 1989.
Pursuant to its Stock Option Plan, DNI has granted incentive stock options to certain directors, officers, and consultants of the Company to purchase up to an aggregate of 3,500,000 common shares in the capital stock of the Company. The options are exercisable at a price of $0.15 per common share, on or before June 3, 2022.
DNI has issued 100,000 common shares due to $.10 warrants being exercised.
Raymond Mitchell and Ravi Gopal have resigned from the board of DNI. The board expresses their appreciation in Mr. Mitchell's and Mr. Gopal's valuable contributions in advancing the company to it's new operating entity.
About DNI Metals
Certain advisors and directors of DNI have significant operational experience at historical hard rock graphite mines in Canada (e.g. Ontario and Quebec) and Australia. Between them, they have built three (3) processing plants and designed two (2) others; all, which were shut down in the 1990,'s due to increased Chinese competition. Keith Minty, a director, previously worked at Cal Graphite near Kearny, Ontario.
It was our team's understanding of the high production and capital expenditure costs associated with so-called "hard rock" graphite mining that inspired DNI to search for saprolite-hosted graphite deposits.
Certain parts Madagascar and Brazil, produce graphite from weathered material called saprolite.
According to Dictionary.com, saprolite is described as:
"Soft, thoroughly decomposed and porous rock, often rich in clay, formed by the in place chemical weathering of igneous, metamorphic, or sedimentary rocks. Saprolite is especially common in humid and tropical climates. It is usually reddish brown or grayish white and contains those structures (such as cross-stratification) that were present in the original rock from which it formed."
DNI owns a commercially permitted, saprolite-hosted graphite deposit in Madagascar; located 50kms from the country's main seaport. The deposit is located less than two (2) kms from the paved national highway. DNI intends to develop the Vohitsara project, should the economic viability and technical feasibility be established. DNI has not yet established mineral resources or mineral reserves supported by a PEA or mining study (PFS or FS).
DNI has a graphite wholesale business, in which it buys and sells high quality graphite. This business has shown a steady increase in volume over the past year.
Steven Goertz (MAusIMM, MAIG), who is a qualified person, approved the technical disclosure in this news release.
We seek Safe Harbour. This announcement may include forward looking statements. While these statements represent DNI's best current judgment, they are subject to risks and uncertainties that could cause actual results to vary, including risk factors listed in DNI's Annual Information Form and its MD&A's, all of which are available from SEDAR and on its website.