RB Energy Confirms Continuous Lithium Carbonate Production
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 5, 2014) - RB Energy Inc. (the
"Company" or "RBI" or "RB Energy") (TSX:RBI)(OTCQX:RBEIF) is pleased to
confirm that it has achieved continuous production of battery grade
lithium carbonate (99.9% Li2CO3) at its 100% owned Quebec Lithium operation located at La Corne, Quebec.
An
initial shipment of finished product to our principal offtake partner, Tewoo, was scheduled for the beginning of this week. However, after
further discussions with Tewoo it has been decided to delay the
commencement of sales shipments until lithium carbonate production has
reached 55 metric tonnes per week to confirm product quality consistency
and to maximize shipping efficiencies. Accordingly, our efforts remain
focused on continuing the commissioning process towards achieving this
production level. In the meantime, shipments of larger samples to Tewoo
and other customers continue on a regular basis.
Quebec
Lithium remains on track to achieve commercial production levels by the
end of the 3rd Quarter and "name plate" production (20,000 tonnes per
annum) by the end of 2014.
Commenting on product shipment scheduling, Richard Clark, Pres. and CEO, stated:
"We
are very excited to have achieved continuous production of high grade
battery product at Quebec Lithium. We are now focused on increasing
production levels, firstly towards meeting the initial shipping volumes
required by our offtake partner Tewoo, secondly to reach commercial
production levels and finally, to realize the design production
threshold of 20,000 tonnes per annum. The commissioning process is on
schedule and we will continue to keep the market updated with regular
progress reports."
About RB Energy Inc.
RBI
currently owns Aguas Blancas, a producing iodine mine in northern
Chile, and Quebec Lithium near La Corne, Quebec. The Aguas Blancas
operation is in production. The Quebec 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 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.
Sophia Shane
(604) 689-7842
(604) 689-4250 (FAX)
sophias@namdo.com
