LION Provides Updated Plan to Launch Graphite Token
VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) is pleased to announce
that with its partner Swiss EMX the Company will proceed with the launch of its Graphite Token as per the proposed offtake agreement to supply Graphite from the Ambato-Arana graphite project in
Madagascar (the “Malagasy Project”). Swiss EMX plans to launch pre-sales of its Commodity backed Graphite Token in the upcoming weeks.
Under the new partnership LION will honor the original off-take agreement announced Feb 14th, 2019 and will take a 15% interest in Swiss EMX for an investment of $250,000 dollars.
Demand for energy storage, driven by the accelerating move to electric vehicles and alternative energy with a view to meeting CO2 emissions targets, is expected to increase by orders of magnitude over coming years creating a supply shortfall in, and increasing the need for liquidity in, graphite and e-metals supplies and markets.
To solve this liquidity problem, we utilize Blockchain Technology for the trading of the e-metals based on smart contracts which build in faster and cheaper settlement between the buyer and seller and will ultimately allow for the physical delivery of the underlying commodity between the producers and the consumers.
Swiss-EMX is pioneering the tokenization of the energy metals using a three-stage approach. First, by offering commodity backed tokens followed by secondary trading of the tokens on regulated exchanges, which allows for speculation and liquidity in otherwise illiquid commodities market and finally by offering delivery of the physical under lying commodity via smart contracts using blockchain technology.
Ambato-Arana Graphite Mine, Madagascar
The 3 forty-year renewable mining exploitation licenses that comprise the Project total 4,375 hectares (10,811 acres) are located in the vicinity of Andasibe in Toamasina Province in Madagascar, 20 km to the southwest of Sheritt’s large-scale nickel/cobalt laterite open pit mine at Ambatovy and 15 km north east of the town of Moramanga from which national highway RN2 connects with capital city Antananarivo (114 km) and Madagascar’s main port of Toamisina (Tamatave) (240 km). Graphite was produced on the licenses, at a modest rate constrained by the technology employed on the licenses at that time, for roughly a century from 1910. Production was suspended by the previous owners due to a slump at the time in Global Graphite markets and with the deposits only partially mined. The deposits are now ready for larger scale exploitation with modern production techniques. They lie within the graphitic horizons of the highly prospective Manampotsy Formation and are associated with topographic highs that are exploited via free digging of lateritic ore and open pit mining, providing a lower cost exploitation without need for blasting. The graphite mineralization on the Project appears within well-defined north-south belts with interbedded graphite-rich friable layers. The geological layers of interest have continuity of several kilometres and exhibit a shallow dip angle. Sample data indicate good grade (up to 10% carbon content with some samples up to nearly 14%) and large flake (jumbo size) consistent with other nearby mines e.g. Gallois (Elate Graphite), Sahamamy & Vatomina (Tirupati Graphite) and DNI Metals’ Vohitsara (DNI Metals).