DNI Metals Receives Purchase Order for 2,320 Tonnes of Graphite
Toronto, Ontario--(Newsfile Corp. - March 13, 2017) - DNI Metals Inc. (CSE: DNI) (FSE: DG7N) (OTC Pink: DMNKF) ("DNI" or the "Company"). DNI will deliver 2,320 metric tonnes of graphite to a customer's facility in the United States. Monthly Shipments will commence in July and completed by December 2017.
About DNI Metals
Certain, advisors and directors of DNI have built and worked at historical hard rock graphite mines in Canada (Ontario and Quebec) and Australia. Between them, they have built three processing plants and designed two others, all which were shut down in the 1990's due to increased Chinese competition.
It was our team's understanding of the high production and capital expenditure costs associated with "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 permitted, saprolite-hosted graphite deposit in Madagascar; located 50kms from the country's main seaport. The deposit is 1.6kms off an arterial paved highway. As per the press release dated December 16, 2016, DNI has signed an agreement with Cougar Metals with the intention of developing the project should the economic viability and technical feasibility be established. A drilling program will commence this month.
DNI has a graphite wholesale business, in which it buys and sells high quality graphite.
Steven Goertz, who is a qualified person, approved the technical disclosure in this news release.
DNI — Canadian Securities Exchange
DG7N — Frankfurt
DMNKF - OTC
For further information, contact:
DNI Metals Inc. — Dan Weir, CEO 416-595-1195
Also visit www.dnimetals.com
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.