RB Energy Inc. TSX : RBI
OTCQX : RBEIF
August 18, 2014 08:31 ET
RB Energy Quebec Lithium Production Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 18, 2014) - RB Energy Inc. (the
"Company" or "RBI" or RB Energy") (TSX:RBI)(OTCQX:RBEIF) is pleased to
report steady production at its Quebec Lithium project and increasing
sales of battery grade lithium carbonate.
Since
August 3, 2014 (News Release August 5, 2014), 62 tonnes of battery
(>99.7% Li2CO3) grade material have been shipped to our off-take
partner in China. Production levels currently average between 40 and 50
tonnes of battery grade material per week, and are expected to increase
week on week going forward.
Production
through the processing plant is now focused on improving recoveries and
increasing volumes towards achieving commercial production levels by
year end; all part of the standard commissioning process.
The
Company has initiated short term financing arrangements as the first
step in a two part financing process. The second step is a more
comprehensive financing solution over the coming weeks which, combined
with revenues from lithium sales, will allow Quebec Lithium to continue
to operate in the normal course of business until commercial production
volumes and positive operating cash flows are reached.
About RB Energy Inc.
RBI
currently owns Aguas Blancas, a producing iodine mine in northern
Chile, and Québec Lithium near La Corne, Quebec. The Aguas Blancas
operation is in production. The Québec Lithium operation has completed
construction and is in the commissioning phase. For more information
regarding RBI, please refer to its public filings available at www.sedar.com.
The
technical contents of this release have been reviewed by Mr. Kevin
Ross, Eur. Ing., a Qualified Person pursuant to NI-43-101. Mr. Ross is
Chief Operating Officer of the Company and a Member of The Institute of
Materials, Minerals and Mining.
Forward-Looking Statements
Certain
information contained in this news release, including any information
relating to the state of the lithium and iodine industries; statements
regarding our ability and the timing to achieve and sustain commercial
production and name-plate production levels of iodine; our ability to
secure additional financing; our ability to secure commercial orders
from our customers; and our ability to become a material player in the
lithium market are "forward-looking statements". These forward-looking
statements relate to future events or future performance and reflect the
Company's expectations regarding the future growth, results of
operations, business prospects and opportunities of RBI. These
forward-looking statements also reflect the Company's current internal
projections, expectations or beliefs and are based on information
currently available to the Company. In some cases forward-looking
information can be identified by terminology such as "may", "will",
"should", "expect", "intend", "plan", "anticipate", "believe",
"estimate", "projects", "potential", "scheduled", "forecast", "budget"
or the negative of those terms or other comparable terminology. The
estimates and assumptions of RBI underlying the forward-looking
statements in this news release may prove to be incorrect. Assumptions
upon which such forward looking information include, among other things,
successful and timely commissioning, ramp-up and production at the
Québec Lithium Project; the lack of any further significant capital
expenditures during the commissioning stage or to bring the
hydrometallurgical process plant into production; the continuing support
and cooperation of RBI's off-take partners; as well as financial
predictions premised on such assumptions. Although the Company believes
that the forward-looking information contained in this news release is
based on reasonable assumptions, readers cannot be assured that actual
results will be consistent with such statements. Accordingly, readers
are cautioned against placing undue reliance on forward-looking
information. RBI expressly disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result of
new information, events or otherwise, except in accordance with
applicable securities laws.
On behalf of the Board,
Richard P. Clark, President and CEO
Contact Information
-
RB Energy Inc.
(604) 689-7842
(604) 689-4250 (FAX)
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