Orbite HPA Production Update
HPA Purity Maintained in Calcination Section First Commercial Orders Booked
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 01/23/17 -- Further to its press release of January 16, 2017, Orbite Technologies Inc. (TSX: ORT)(OTCQX: EORBF) ("Orbite" or the "Company") today provides an update on the Company''s progress with the production of high purity alumina ("HPA").
"Relative purity parity between ACH crystals and HPA is something we had hoped for, and we are pleased to have achieved this so early in the use of the calcination system," stated Glenn Kelly, CEO of Orbite. "Additionally, our ability to produce HPA at lower temperatures than originally anticipated is likely to make a positive contribution towards our bottom line once we are in full commercial operation. These recent results, we believe, continue to provide confirmation of the strength of the Orbite process. With the restart of the calcination system, our next step will be to ramp up production to commercial output of 1 tpd over the coming weeks and to nameplate capacity thereafter. Finally, we are pleased to have booked our first two commercial orders. While relatively small at this stage of the relationship with these customers, these orders are within our anticipated sales price range and signal the true commencement of our commercial activities. We expect orders for larger quantities as production grows".
About Orbite
Orbite Technologies Inc. is a Canadian cleantech company whose innovative and proprietary processes are expected to produce alumina and other high-value products, such as rare earth and rare metal oxides, at one of the lowest costs in the industry, and in a sustainable fashion, using feedstocks that include aluminous clay, kaolin, nepheline, bauxite, red mud, fly ash as well as serpentine residues from chrysotile processing sites. Orbite is currently in the process of finalizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Quebec and has completed the basic engineering for a proposed smelter-grade alumina (SGA) production plant, which would use clay mined from its Grande-Vallee deposit. The Company''s portfolio contains 16 intellectual property families, including 45 patents and 71 pending patent applications in 11 different countries and regions. The first intellectual property family is patented in Canada, USA, Australia, China, Japan and Russia. The Company also operates a state of the art technology development center in Laval, Quebec, where its technologies are developed and validated.
Forward-looking statements
Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management''s good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company''s control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management''s Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on March 30, 2016 on SEDAR, including those under the headings "Recent increase in budgeted capital costs will require additional financing and may adversely impact our prospects", "We will need to raise capital to continue our growth" and "Development Goals and Time Frames".
The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.
Contacts:
NATIONAL Equicom
Marc Lakmaaker
External Investor Relations Consultant
416-848-1397
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Datum: 23.01.2017 - 07:21 Uhr
Sprache: Deutsch
News-ID 1481897
Anzahl Zeichen: 1999
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Mining & Metals
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