It's looking good with this major piece of paper accepted for filing (= approved). NGC can now start moving ahead with its plan. Several $M ($7-8M?) is still available in the bank. Caterpillar will be the initial investors, as per NGC August 2013 Corporate Presentation. I would not be a surprise to see a string of NRs for the financing and off-take agreements.

As a reminder, NGC deposit at Bissett Creek is tabular (=flat), hence NGC does not have to dig deep and the mine will look like like a rock quarry.

In my visit of last year, I was given a guided tour and some deposit is right on the surface...Could not help picking up a large flat piece of rock (with lots of visible graphite in it) to bring home as souvenir. It's now part (the arms) of an Inukshuk sitting in the front yard.

Recent drilling showed much better grades, and the mining operation will start at the high-grade areas. From the SGS lab results most (90%) of the graphite at Bissett Creek contains mainly large/jumbo flakes @96-98%C, only 10% @94%C is in the medium/fine flake classification. This flake distribution and purity is outstanding compared to other companies. Further purification would bring it to 99.95%C.

Below is a specimen showing graphite flakes (gray and shiny) in the piece of rock, on the surface, at Bissett Creek. It looks like a very good grade for this piece.

BTW, Bissett Creek was a mine many years ago, and some old pits (and the old mill) were still there during the visit, but the old mill was scheduled for removal soon after that). The new mill will be built about 2 miles north of the old one, i.e. closer to the TransCanada Hwy (Hwy 17).

GLTA

goldhunter