Standard Graphite CEO Chris Bogart on Quebec graphite property acquisition

Standard Graphite Corp SXV:SGH announced a definitive agreement to acquire a 100% interest in the Mousseau East Graphite Deposit in northwest Quebec. Under the agreement, Standard pays $25,000 cash on signing, $50,000 cash and $100,000 in shares (based on the 10-day volume-weighted average price as of issuance) within 48 hours of TSXV approval, $100,000 cash and $100,000 in shares within one year of TSXV approval and $200,000 cash and $200,000 in shares within two years of TSXV approval. If Standard files a resource estimate within one year of TSXV approval showing 5 million tonnes grading at least 6% carbon measured and indicated, the company pays the vendor an additional $500,000. If the resource shows 8 million tonnes grading at least 6%, the company pays $750,000. The vendor retains a 1% NSR which Standard may buy for $500,000.

The property lies within 50 kilometres of Timcal Graphite & Carbon’s Lac-des-Îles, one of North America’s two flake-graphite mines in operation. Mousseau has a 1992 non-43-101 resource estimate by Graphicor Resources that showed 598,480 tonnes grading 8.29% C proven, 219,450 tonnes grading 8.13% probable and 288,760 tonnes grading 7.85% possible.

Read more of this interview with the CEO of Standard Graphite.