Port of Saguenay receives a favourable decision for the construction of a north shore maritime terminal
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
-Decision is a major step towards the realization of Arianne's Lac à Paul phosphate project
SAGUENAY, QC, Oct. 23 2018 /CNW Telbec/ - Arianne Phosphate (the "Company" or "Arianne") (TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, is pleased to announce that the Port of Saguenay has received a favorable decision with regards to the construction of a maritime terminal facility on the north shore of the Saguenay River. Granted by the Minister for the Environment and Climate Change, the Honorable Catherine McKenna, this decision now paves the way forward for the construction of a terminal that will allow for the shipping of Arianne's phosphate concentrate to customers around the world.
"We are very pleased by the decision," said Jean-Sebastien David, COO of Arianne Phosphate. "This result comes after a long period of collaboration with the Port and involved many environmental studies, public consultations and a very thorough and rigorous environmental impact assessment that was conducted by the Canadian Environmental Assessment Agency. With conditions now set, and the ongoing responsibilities on the part of the Port and its users well defined, this approval will allow Arianne and its stakeholders to receive the economic benefits of the Lac à Paul project while acting in an environmentally responsible and sustainable fashion."
The maritime terminal on the north shore of the Saguenay River is a very significant milestone for the Lac à Paul project. With a port facility in place, it will allow for efficient and cost-effective transportation of Arianne's high-purity, premium-priced phosphate concentrate globally and, will open new markets for the Company. Based on Arianne's 2013 Feasibility Study (see Press Release dated October 24, 2013), the project had a US $1.9 billion NPV and is set to produce 3 million tons a year of phosphate concentrate for 26 years, making it the largest independent phosphate mine set to come on stream. During construction of the Lac à Paul mine, over 2,000 jobs will be created followed by 1,000 direct and indirect on-going jobs through the life-of-mine.
"This is a very decisive event for our Company and, the region as a whole," said Brian Ostroff, CEO of Arianne Phosphate. "I believe that this greatly increases the chances of our project coming to fruition and something that many of the potential customers and financiers we are in discussions with wanted to see happen. This provides a good example of what can be accomplished when all stakeholders work together towards a common goal; increased employment, upgraded infrastructure and economic development. Lastly, this is a big step towards unlocking the economics for our shareholders who have supported us over the years as our project has moved towards realization."
About Arianne Phosphate
Arianne Phosphate ("Arianne Phosphate Inc.") (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants (Feasibility Study released in 2013). The Company has 105,803,943 million shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Cautionary Statements Regarding Forward Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, anticipated quality and production of the apatite concentrate at the Lac à Paul project. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: volatile stock price; risks related to changes in commodity prices; sources and cost of power facilities; the estimation of initial and sustaining capital requirements; the estimation of labour and operating costs; the general global markets and economic conditions; the risk associated with exploration, development and operations of mineral deposits; the estimation of mineral reserves and resources; the risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support mining, processing, development and exploration activities; the risks associated with changes in the mining regulatory regime governing the Company; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at Lac à Paul project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issue of common shares; the risk of litigation. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in commodity prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE Arianne Phosphate Inc.
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