Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
OAKVILLE, ONTARIO–(Marketwire – April 5, 2012) – MEGA Graphite Inc. (MEGA), announced today that Paul Ogilvie, Chief Executive Officer (“CEO”) of Mega Graphite Inc. has resigned his position as CEO and Director. Mr. Ogilvie feels that he has taken the company as far as he can and it is now time for the new management group to step in. “Over the last three years, I’m proud of the work we have accomplished, from developing world class technologies to building the very best team in the graphite world and setting a new standard in how the graphite markets run” says Paul Ogilvie.
William Thomson, Chairman, stated that, “The Board of Directors were deeply appreciative of the efforts of Mr.Ogilvie in developing the Company’s initiatives to their current stage and the great contribution which he has made in establishing a sound base for future progress”.
About MEGA Graphite
MEGA Graphite Inc. (www.MEGAgraphite.com) continues to work towards mining, processing and purifying of natural flake graphite from its 100% owned North American based projects. The Company’s primary target markets include high purity graphite applications in lithium-ion batteries, graphene-based applications in products such as flat panel displays, and expandable graphite used in fire retardants, high performance gaskets, conductive fillers, and electromagnetic pulse and radiation shielding. With vertically integrated open-pit multi-plant operations combined with its leading edge technology positions MEGA Graphite is positioned to become a leading cost-competitive supplier to global markets of high-grade graphite products.
MEGA Graphite has developed proprietary technologies with on-site milling systems running in the highest-grade zones to achieve graphite grades that can be refined efficiently and economically. The benefits of using these systems include an environmentally friendly process which can separate the milling operations from the actual mine site.
MEGA Graphite has a global database of customers who require purified natural flake graphite, which can significantly enhance the performance of their technologies. MEGA can size, shape and coat its graphite through licensed processes to purity levels that give these customers the ability to build systems that will hold up to economic and environmental concerns.
With a mandate to own and develop raw minerals that make up the chemistry of new technologies, MEGA also owns the Big Mack rare metal petalite property, located in the Kenora mining district, Ontario. The Separation Lake Greenstone Belt (SLGB) is host to the most important rare-element pegmatites in Ontario and may contain the greatest number of complex-type, petalite-subtype pegmatite occurrences in Canada. These pegmatites are host to many rare elements and metals such as lithium, tantalum, niobium, tin, rubidium and cesium.
