logo-loader
viewCeylon Graphite Corp

Ceylon Graphite takes further step towards mine development at Sri Lanka project with IMLB license award

Bharat Parashar, the firm's chief executive said: "The license will allow us to speed up mine development work at M1 as we apply for a IMLA license, a process that has already started"

Documents
An IMLB license means some single borehole blasting is permitted plus the use of certain machinery and equipment in the mining process

Sri-Lanka focused Ceylon Graphite Corp (CVE:CYL) (OTCMKTS:CYLYF) told investors Friday it has taken another step forward in its quest to start mining at the M1 graphite project in the country.

The group revealed it had been awarded a so called IMLB license by the relevant authority of the Sri Lankan government.

READ: Ceylon Graphite discovers new, large crystalline graphite vein at Sri Lanka project

IML is an Industrial Mining License and under category B, typically  some single borehole blasting is permitted plus the use of certain machinery and equipment in the mining process. It means the site may also excavate or produce a small amount of graphite per month.

Bharat Parashar, chief executive at Ceylon Graphite said: "This is another step in the right direction. The license will allow us to speed up mine development work at M1 as we apply for a IMLA license, a process that has already started."

Earlier this month, the group said it had discovered a large, wide crystalline graphite vein at the project.

The Vancouver-based explorer found a 55 centimeter-wide vein at the H1 site in Meewitiya during the digging of a new shaft.

Contact Giles at [email protected]

Quick facts: Ceylon Graphite Corp

Price: 0.155 CAD

TSX-V:CYL
Market: TSX-V
Market Cap: $10.43 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ceylon Graphite Corp named herein, including the promotion by the Company of Ceylon Graphite Corp in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Ceylon Graphite readying for first production in early 2020

Proactive Research analyst Christopher Ecclestone updates on the development of Ceylon Graphite Corp's (CVE:CYL) mines in Sri Lanka. Ecclestone says they've received environmental approvals for its K1 mine and has recently gained an industrial mining licence with first production likely in...

on 8/10/19

2 min read