Feb 4 2016
Next Graphite, Inc., a graphite exploration / development stage company in Africa's Republic of Namibia, today announced receipt of the Company's conditional renewal of its exclusive prospecting license in Namibia.
Next Graphite's license will cover its 96,000-acre Aukam property including three existing adits and onsite heaps of graphite-bearing rock, which previously reported 95% of heap samples achieved 32% to 69% graphite content with the highest sample recorded at 82% graphite.
Next Graphite received notification from the Ministry of Mines and Energy Namibia outlining its preparedness to grant approval for the renewal of its exclusive 'Prospecting Licence No: 3895' that covers the Aukam Graphite Deposit in southern Namibia. Such notice was delivered to Gazania Investments 242 (PTY) Ltd ("Gazania"), the Namibian subsidiary of Next Graphite, Inc.
The initial renewal application was made by Gazania on behalf of Next Graphite, Inc. on March 13, 2015. Management of Next Graphite and its TSXv-listed JV partner, CKR Carbon, are confident conditions as outlined in the notice will be met within the 60-day timeframe given by the Namibian Ministry of Mines and Energy.
"We are pleased that the renewal process has reached this point and look forward to working with the Namibian Government to accommodate its objectives in order to complete the process and start to increase its inward investment into Namibia," said Cliff Bream, CEO of Next Graphite, Inc. "We look forward to working with our joint venture partner to commercialize our above ground assets and to mine the high-grade graphite reported in our existing adits," Bream concluded.