Latest news with #TitanMining
Yahoo
a day ago
- Business
- Yahoo
Titan Mining subsidiary secures $15m funding from EXIM for critical minerals development
Titan Mining has announced that the Export-Import Bank of the United States (EXIM) has approved $15.8m in financing for its wholly owned subsidiary, Empire State Mines (ESM). This funding is designated for critical capital development to expand zinc production and advance ESM's critical minerals portfolio in St. Lawrence County, New York. This transaction represents EXIM's inaugural direct mining loan under the Make More in America Initiative (MMIA), a federal programme designed to reinforce industrial capacity, secure US supply chains for critical materials and bolster domestic manufacturing. The financing arrangement includes a seven-year tenor with a two-year interest-only grace period. The funds are earmarked for capital equipment and infrastructure improvements to bolster current and future operations at ESM. The cash flow from zinc operations will help reduce the cost of capital and de-leverage existing facilities. This financial strategy allows for efficient balance sheet structuring, maintaining flexibility for future growth and financing opportunities while enabling early investment in graphite production. The company has also committed to job creation and retention, with 135 existing jobs maintained and an additional ten new positions anticipated, in line with EXIM's requirements. Titan CEO Don Taylor commented: 'This financing marks a major step forward for Titan and the Empire State Mine. It enables us to further expand zinc production, accelerate our graphite development, and importantly, retain 135+ high-quality jobs in upstate New York while creating new skilled positions as we grow. EXIM's support reflects the strategic importance of our assets and validates our long-term vision.' In a related development, Critical Metals recently received a letter of interest from EXIM for a potential loan of up to $120m to finance its Tanbreez rare earths mine in Greenland. This move could signify the US' first overseas mining investment under the Trump administration, aiming to reduce dependency on China for critical minerals, especially amidst heightened trade tensions and Beijing's export restrictions on rare earths. "Titan Mining subsidiary secures $15m funding from EXIM for critical minerals development" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Titan Mining (TSE:TI) delivers shareholders strong 27% CAGR over 5 years, surging 11% in the last week alone
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But on the bright side, if you buy shares in a high quality company at the right price, you can gain well over 100%. For instance, the price of Titan Mining Corporation (TSE:TI) stock is up an impressive 193% over the last five years. It's also good to see the share price up 107% over the last quarter. Since the stock has added CA$8.2m to its market cap in the past week alone, let's see if underlying performance has been driving long-term returns. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). During the last half decade, Titan Mining became profitable. That kind of transition can be an inflection point that justifies a strong share price gain, just as we have seen here. The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers). We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.. Investors should note that there's a difference between Titan Mining's total shareholder return (TSR) and its share price change, which we've covered above. Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. Titan Mining's TSR of 235% for the 5 years exceeded its share price return, because it has paid dividends. It's good to see that Titan Mining has rewarded shareholders with a total shareholder return of 140% in the last twelve months. That's better than the annualised return of 27% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. To that end, you should be aware of the 3 warning signs we've spotted with Titan Mining . Titan Mining is not the only stock insiders are buying. So take a peek at this free list of small cap companies at attractive valuations which insiders have been buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Canadian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
2 days ago
- Business
- Globe and Mail
The Export-Import Bank of the United States approves US$15.8 Million Financing for ESM to Advance Zinc and Critical Minerals Production in New York
VANCOUVER, British Columbia, June 19, 2025 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX: TI; OTCQB: TIMCF) ("Titan" or the "Company") is pleased to announce that the Export-Import Bank of the United States ('EXIM') has approved a US$15.8 million financing for its wholly owned subsidiary, Empire State Mines LLC ('ESM'), to fund critical capital development in support of expanding zinc production and advancing ESM's critical minerals portfolio in St. Lawrence County, New York. This marks EXIM's first direct mining transaction under the Make More in America Initiative ('MMIA'), a landmark federal initiative aimed at reshoring industrial capacity, securing U.S. supply chains for critical materials and expanding the domestic manufacturing base. Highlights: EXIM's first mining loan under MMIA, signaling federal recognition of Titan's role in restoring domestic mineral production First step in a strategic financing partnership as Titan develops the first integrated natural flake graphite operations in the United States since 1956 Long-term, fixed-rate financing (7-year tenor, 2-year interest-only grace period) to support zinc expansion, whilst ESM is focused on graphite facility build-out Funds will be used for capital equipment and infrastructure upgrades to support existing and future operations at ESM Cash-generative zinc operations at ESM will help de-leverage existing facilities, reduce cost of capital, while enabling early investment into graphite Job creation and retention commitments: 135 jobs retained, and 10 new positions targeted under EXIM requirements Efficient balance sheet structuring with Titan retaining flexibility for future growth and financings Don Taylor, CEO of Titan commented: 'This financing marks a major step forward for Titan and the Empire State Mine. It enables us to further expand zinc production, accelerate our graphite development, and importantly, retain 135+ high-quality jobs in upstate New York while creating new skilled positions as we grow. EXIM's support reflects the strategic importance of our assets and validates our long-term vision.' Rita Adiani, President of Titan commented: 'This is a foundational milestone—not just for Titan, but for U.S. mineral policy. With this EXIM facility, we're building a secure, transparent supply of critical minerals and investing in energy and defense supply chains. We're proud to be EXIM's first mining partner under Make More in America.' 'I am proud that the Board approved our eighth Make More in America transaction,' said Acting President and Chairman James Cruse. 'This deal underscores EXIM's commitment to strengthening U.S. supply chains, competing with the People's Republic of China, and supporting good-paying American jobs.' About EXIM Established in 2022, the Make More in America initiative (MMIA) directs an all-of-government approach to assessing vulnerabilities in, and strengthening the resilience of, the United States' critical supply chains. By leveraging its existing financing capabilities, with priority given to small businesses and transformational export areas, including critical minerals, EXIM is working to help level the playing field for American companies competing in overseas markets, especially those with export-oriented domestic manufacturing nexuses. About Titan Mining Corporation Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York state. Titan's goal is to deliver shareholder value through operational excellence, development and exploration. We have a strong commitment towards developing critical minerals assets which enhance the security of the domestic supply chain. For more information on the Company, please visit our website at Contact For further information, please contact: Investor Relations: Email: info@ Cautionary Note Regarding Forward-Looking Information Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including that funds will be used for capital equipment and infrastructure upgrades to support existing and future operations at ESM; Cash-generative zinc operations at ESM will help de-leverage existing facilities, reduce cost of capital, while enabling early investment into graphite; future growth and financings; and expansion of zinc operations and the reestablishment of U.S. natural graphite production. When used in this news release words such as 'to be', "will", "planned", "expected", "potential", and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of zinc and graphite; the inherently hazardous nature of mining-related activities; potential effects on our operations of environmental regulations in New York State; risks due to legal proceedings; risks related to operation of mining projects generally and the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators. Such forward-looking statements are based on various assumptions, including assumptions made with regard to our forecasts and expected cash flows; our projected capital and operating costs; our expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mining activities will remain consistent; our approved business plans; our mineral resource estimates and results of the PEA; our experience with regulators; political and social support of the mining industry in New York State; our experience and knowledge of the New York State mining industry and our expectations of economic conditions and the price of zinc and graphite; demand for graphite; exploration results; the ability to secure adequate financing (as needed); the Company maintaining its current strategy and objectives; and the Company's ability to achieve its growth objectives. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
Yahoo
2 days ago
- Business
- Yahoo
Titan Mining subsidiary secures $15m funding from EXIM for critical minerals development
Titan Mining has announced that the Export-Import Bank of the United States (EXIM) has approved $15.8m in financing for its wholly owned subsidiary, Empire State Mines (ESM). This funding is designated for critical capital development to expand zinc production and advance ESM's critical minerals portfolio in St. Lawrence County, New York. This transaction represents EXIM's inaugural direct mining loan under the Make More in America Initiative (MMIA), a federal programme designed to reinforce industrial capacity, secure US supply chains for critical materials and bolster domestic manufacturing. The financing arrangement includes a seven-year tenor with a two-year interest-only grace period. The funds are earmarked for capital equipment and infrastructure improvements to bolster current and future operations at ESM. The cash flow from zinc operations will help reduce the cost of capital and de-leverage existing facilities. This financial strategy allows for efficient balance sheet structuring, maintaining flexibility for future growth and financing opportunities while enabling early investment in graphite production. The company has also committed to job creation and retention, with 135 existing jobs maintained and an additional ten new positions anticipated, in line with EXIM's requirements. Titan CEO Don Taylor commented: 'This financing marks a major step forward for Titan and the Empire State Mine. It enables us to further expand zinc production, accelerate our graphite development, and importantly, retain 135+ high-quality jobs in upstate New York while creating new skilled positions as we grow. EXIM's support reflects the strategic importance of our assets and validates our long-term vision.' In a related development, Critical Metals recently received a letter of interest from EXIM for a potential loan of up to $120m to finance its Tanbreez rare earths mine in Greenland. This move could signify the US' first overseas mining investment under the Trump administration, aiming to reduce dependency on China for critical minerals, especially amidst heightened trade tensions and Beijing's export restrictions on rare earths. "Titan Mining subsidiary secures $15m funding from EXIM for critical minerals development" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
14-05-2025
- Business
- Globe and Mail
Titan Mining Reports 37% Revenue Growth and Lower Costs in Q1 2025
VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX: TI, OTCQB: TIMCF) (" Titan" or the " Company") today announced its financial and operating results for the quarter ended March 31, 2025. The Company delivered a 37% year-over-year revenue increase and a 4% reduction in all-in sustaining costs (' AISC '), supported by higher production and strong operational execution at the Empire State Mine (' ESM '). Q1 25 HIGHLIGHTS: (1) Payable zinc production of 15.37 million pounds, up 5% from Q1 2024. Revenues of $16.02 million, a 37% increase year-over-year. C1 cash costs of $0.91/lb, down 6% from Q1 2024. AISC of $0.96/lb, down 4% from Q1 2024. Cash flow from operations of $2.7 million, up 922% from Q1 2024. Reduction in net debt by 29% from Q1 2024. Ending cash balance of $12.18 million, up 20% from December 31, 2024. 22 holes (9,213 ft) drilled in underground exploration drilling, across Mahler, New Fold, and Mud Pond. UX24-036 at Mud Pond intersected 11.6 ft at 13.7% Zn. This is ~1,750 ft directly down plunge of the current mineral resource estimate, indicating significant expansion potential. Strong safety performance, with an injury frequency rate 70% below the U.S. national average. Kilbourne graphite project on track with final engineering complete for commercial demonstration facility. (1) All amounts disclosed in this news release are in U.S. dollars unless otherwise stated. Don Taylor, Chief Executive Officer of Titan, commented, ' We started 2025 with good momentum, achieving strong production and lowering unit costs. This performance reflects the strength of our team and the efficiency of the Empire State Mine, which continues to deliver consistent, high-quality results. The quarter's exploration results, including a high-grade intercept over 1,700 feet outside our current mineral resource model, point to meaningful mineral resource expansion and long-term potential across the district'. Rita Adiani, President of Titan commented: ' Titan's Q1 results reinforce our strategy to grow responsibly while maintaining cost discipline. With zinc operations delivering robust cash flow and our graphite project advancing rapidly, we are executing on our dual-commodity growth plan and positioning Titan as a reliable U.S. supplier of critical minerals.' TABLE 1 Financial and Operating Highlights 2025 2024 Q1 FY Q4 Q3 Q2 Q1 Operating Payable zinc produced mlbs 15.37 59.5 21.7 8.3 14.8 14.7 Payable zinc sold mlbs 15.57 59.6 22.3 8.2 14.7 14.4 Average Realized Zinc Price $/lb 1.29 1.23 1.28 1.27 1.30 1.11 C1 Cost (1) $/lb 0.91 0.91 0.81 1.32 0.79 0.97 AISC (1) $/lb 0.96 0.94 0.86 1.35 0.79 1.00 Financial Revenue $m 16.02 64.30 26.33 8.27 17.97 11.73 Net Income (loss) after tax $m 0.35 6.73 11.60 (4.86) 2.62 (2.63) Earnings (loss) per share- basic $/sh 0.00 0.05 0.08 (0.04) 0.02 (0.02) Cash Flow from Operating Activities before changes in non-cash working capital $m 2.69 16.47 10.92 (1.68) 6.97 0.26 Financial Position Cash & Cash Equivalents $m 12.18 10.16 10.16 5.84 5.55 4.18 Net Debt (1) $m 23.05 21.92 21.92 30.78 30.63 32.44 Note: The sum of the quarters in the table above may not equal the full-year amounts disclosed elsewhere due to rounding. C1 Cash Cost, All-In Sustaining Cost ('AISC') and Net Debt are non-GAAP measures. Accordingly, these financial measures are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. These financial measures have been calculated on a basis consistent with historical periods. Information explaining these non-GAAP measures is provided below under 'Non-GAAP Performance Measures'. For further details the reader is directed to the Company's Q1 2025 Financial Statements and Management Discussion and Analysis available on the Company's website and OPERATIONS REVIEW Mining activity in Q1 2025 focused on the Mahler, New Fold, and Mud Pond zones in the #4 mine. Deepening of the Mahler ramp enabled access to higher-grade ore, while long hole stoping in New Fold exceeded grade and tonnage targets. Production from the N2D zone is set to commence at 250 tons/day in Q2, increasing to 500 tons/day in Q3. Titan has begun implementing production expansion from 1,750 to 2,250 tons/day anticipated for completion by year-end. Equipment purchases and workforce training are underway, with rehabilitation advancing to support increased output. GRAPHITE UPDATE The Kilbourne Graphite Project, located within ESM's active permit area, continues to progress on schedule. Following positive Phase III metallurgy results, engineering for the commercial demonstration facility is nearing completion. The facility is expected to produce 1,000–1,200 tonnes of graphite concentrate per year. Subject to demand, funding and positive economic studies, the Company is targeting increasing graphite concentrate production to 40,000 tonnes per year. This will be the first fully integrated natural flake graphite production in the U.S. since 1956. EXPLORATION UPDATE As part of the underground drilling campaign, 22 holes totaling 9,213 feet were drilled in Q1, targeting Mahler, New Fold, and Mud Pond zones. A notable intercept from hole UX24-036 (11.6 ft at 13.7% Zn) was intersected approximately 1,750 ft outside the current mineral resource model along strike, indicating the potential to meaningfully expand the current mineral resource estimate. Figure 1: Map showing the intercept in UX24-036 relative to the current resource model extents. Underground Exploration Drilling UX24-036 2,156.7 2,168.3 11.6 656.1 659.6 3.5 13.7 Collar Hole ID Length (ft) Easting (ft) Northing (ft) Elevation (ft) Azimuth Dip UX24-036 2,456 17,587.9 16,552.3 -2,892.3 308 -45 Quality Assurance and Quality Control Core drilling was completed using ESM owned and operated drills which produced AWJ (1.374 in) size drill core. All core was logged by ESM employees. The core was washed, logged, photographed, and sampled. All core samples were cut in half, lengthwise, using a diamond saw with a diamond-impregnated blade and sampled on 5 ft intervals with adjustments made to match geological contacts. After a sample is cut, one half of the core was returned to the original core box for reference and long-term storage. The second half was placed in a plastic or cloth sample bag, labeled with the corresponding sample identification number, along with a sample tag. All sample bags were secured with staples or a draw string, weighed and packed in shipping boxes. Shipping boxes are placed on pallets and shipped by freight to ALS Geochemistry ('ALS'), an independent ISO/IEC accredited lab located in Sudbury, Ontario, Canada. ALS prepares a pulp of all samples and sends the pulps to their analytical laboratory in Vancouver, B.C., Canada, for analysis. ALS analyzes the pulp sample by an aqua regia digestion (ME-ICP41 for 35 elements) with an ICP – AES finish including Cu (copper), Pb (lead), and Zn (zinc). All samples in which Cu (copper), Pb (lead), or Zn (zinc) are greater than 10,000 ppm are re-run using aqua regia digestion (Cu-OG46; Pb-OG46; and Zn-OG46) with the elements reported in percentage (%). Silver values are determined by an aqua regia digestion with an ICP-AES finish (ME-ICP41) with all samples with silver values greater than 100 ppm repeated using an aqua regia digestion overlimit method (Ag-OG46) calibrated for higher levels of silver contained. Gold values are determined by a 30 g fire assay with an ICP-AES finish (Au-ICP21). Mr. Taylor has a fulsome staff of experts on-site that thoroughly review and verify ESM technical data on a regular basis, as described above. For this reason, Mr. Taylor has relied entirely on such verification procedures for verifying the scientific and technical data in this news release. Mr. Taylor has not identified any legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources disclosed herein. Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Donald R. Taylor, MSc., PG, Chief Executive Officer of the Company. Mr. Taylor is a qualified person for the purposes of NI 43-101. Mr. Taylor has more than 25 years of mineral exploration and mining experience and is a Registered Professional Geologist through the SME (Registered Member #4029597). Non-GAAP Performance Measures This document includes non-GAAP performance measures, discussed below, that do not have a standardized meaning prescribed by IFRS. The performance measures may not be comparable to similar measures reported by other issuers. The Company believes that these performance measures are commonly used by certain investors, in conjunction with conventional GAAP measures, to enhance their understanding of the Company's performance. The Company uses these performance measures extensively in internal decision-making processes, including to assess how well the Empire State Mine is performing and to assist in the assessment of the overall efficiency and effectiveness of the mine site management team. The tables below provide a reconciliation of these non-GAAP measures to the most directly comparable IFRS measures as contained within the Company's issued financial statements. C1 Cash Cost Per Payable Pound Sold C1 cash cost is a non-GAAP measure. C1 cash cost represents the cash cost incurred at each processing stage, from mining through to recoverable metal delivered to customers, including mine site operating and general and administrative costs, freight, treatment and refining charges. The C1 cash cost per payable pound sold is calculated by dividing the total C1 cash costs by payable pounds of metal sold. All-in Sustaining Costs AISC measures the estimated cash costs to produce a pound of payable zinc plus the estimated capital sustaining costs to maintain the mine and mill. This measure includes the C1 cash cost and capital sustaining costs divided by pounds of payable zinc sold. AISC does not include depreciation, depletion, amortization, reclamation and exploration expenses. Q1 2025 Q1 2024 $ $/lb $ $/lb Pounds of payable zinc sold (millions) 15.6 14.4 Operating expenses and selling costs $ 12,121 $ 0.78 $ 10,263 $ 0.71 Concentrate smelting and refining costs 1,964 0.13 3,667 0.26 Total C1 cash cost $ 14,085 $ 0.91 $ 13,930 $ 0.97 Sustaining capital expenditures 720 0.05 438 0.03 AISC $ 14,805 $ 0.96 $ 14,368 $ 1.00 Net Debt Net debt is calculated as the sum of the current and non-current portions of long-term debt, net of the cash and cash equivalent balance as at the balance sheet date. A reconciliation of net debt is provided below. Q1 2025 Q1 2024 Current portion of debt $ 33,727 $ 32,081 Non-current portion of debt 1,510 - Total debt $ 35,237 $ 32,081 Less: Cash and cash equivalents (12,183) (10,163) Net debt $ 23,054 $ 21,918 About Titan Mining Corporation Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York state. Titan's goal is to deliver shareholder value through operational excellence, development and exploration. We have a strong commitment towards developing critical minerals assets which enhance the security of the domestic supply chain. For more information on the Company, please visit our website at Contact For further information, please contact: Investor Relations: Email: info@ Cautionary Note Regarding Forward-Looking Information Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including the potential for significant expansion of the mineral resource estimate; the Kilbourne graphite project for commercial demonstration facility; that Titan will be positioned as a reliable U.S. supplier of critical minerals; production from the N2D zone is set to commence at 250 tons/day in Q2, increasing to 500 tons/day in Q3; Titan has begun implementing production expansion from 1,750 to 2,250 tons/day anticipated for completion by year-end; the facility is expected to produce 1,000–1,200 tonnes of graphite concentrate per year; subject to demand, funding and positive economic studies, the Company is targeting increasing graphite concentrate production to 40,000 tonnes per year; Procurement and assembly for the facility is expected to begin in H2 2025; and that this will be the first fully integrated natural flake graphite production in the U.S. since 1956.. When used in this news release words such as 'to be', "will", "planned", "expected", "potential", and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators. Such forward-looking statements are based on various assumptions, including assumptions made with regard to the ability to advance exploration efforts at ESM; the results of such exploration efforts; graphite demand; results of economic studies; the ability to secure adequate financing (as needed); the Company maintaining its current strategy and objectives; and the Company's ability to achieve its growth objectives. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
