April 22, 2014 08:30 ET
RB Energy Provides an Operations Update for Quebec Lithium
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 22, 2014) - RB Energy Inc.
(the "Company" or "RBI" or RB Energy") (TSX:RBI)(OTCQX:RBEIF) is
pleased to report that with temperatures in the Val d'Or area of Quebec
rising, the Quebec Lithium concentrator was successfully restarted last
week as planned. Production volumes from the concentrator are gradually
being increased to enable the restart of the hydromet circuit by the end
of this week. In Q2 throughputs will gradually be increased and, with
the ore sorter commissioning commencing by the end of Q2, will enable
commercial production levels to be achieved as scheduled in Q3. The
first sales of battery grade lithium carbonate are expected to commence
in May.
By
the end of Q3 the crushing circuit of the concentrator will be
completely winterized, enabling lithium carbonate production year round
going forward.
Commenting
on the restarting of the Quebec Lithium operation, Richard Clark,
President and CEO, said: "Mother nature has finally decided to allow
spring to arrive. This winter in Quebec was extremely challenging. With
the long duration of extremely cold temperatures, and incomplete
winterization at the plant, it was not possible to operate the
concentrator for the better part of 5 months. Despite this situation, we
were able to successfully commence commissioning of the hydromet
section of the plant and we achieved a very high grade battery product
in March. With all components of the Quebec Lithium complex in
operation, we now look forward to delivering into our offtake contracts.
I
would like to take this opportunity to thank our shareholders, bankers,
other investors and offtake partners for their support and patience. I
would also like to thank our employees for their continued commitment
and determination. It has been a long road with numerous challenges, but
we are very excited about being so close to achieving our goal of being
a new, high quality, strategic, lithium carbonate producer."
RBI is a Canadian company formed pursuant to the arrangement involving
Sirocco Mining Inc. and Canada Lithium Corp. It currently owns Aguas
Blancas, an iodine producing mine in northern Chile, and the Quebec
Lithium Project near Val d'Or, the geographical heart of the Quebec
mining industry. The Aguas Blancas mine is currently in production. The
Quebec Lithium Project 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.
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.
