The company said the new name has been chosen to better reflect its strategic focus on working towards the exploration for, and development of green commodities required by the burgeoning Lithium-Ion battery market. It added that its sustainability focus will reflect in its enhanced attention to ESG (Environmental, Social, and Corporate Governance) matters, which will underpin the company’s aggressive growth plans.
READ: Goldcore Resources says graphitic rock samples sent for processing to produce graphite concentrate to build test batteries
The group said the change of name, which is subject to the acceptance of the TSX Venture Exchange, will be done without any share consolidation or change in trading symbol. Shareholders will be informed once approved and will be advised of the new CUSIP number when issued.
In a statement, CEO Tom Yingling commented: “I am very excited to move the Company forward under the new brand. Management has been developing the Berkwood Graphite discovery over 5 years moving the project into a proven resource stage. We have stated numerous times that the demand for electric vehicle battery minerals will come strong, and it has just started.
"Although we are under a new name, the historical work of numerous drill programs, testing of our Graphite and millions of dollars being spent does not change. Investors need to be aware that Graphite is not a homogeneous commodity like gold or silver. When choosing to invest in a Graphite Company do your homework as not all graphite is created equal.”
The company’s high grade, large flake Berkwood graphite project comprises an advanced stage property in which the group has already invested over $6 million and has published a maiden resource and where the product has demonstrated it can be easily purified to 99.95% using a clean green alkaline process, and where the graphite product has demonstrated excellent expandability characteristics for certain industrial applications.
Goldcore is building test batteries to prove their graphite can be used in making batteries and is working on verifying that the project graphite is amenable to efficient spheronization and coating and thus to add value to the end product.
The Berkwood project in Northern Quebec is characterised by outcropping graphite that is expected to offer shallow development and ready remediation potential, in line with the company’s values. A development project at Berkwood would benefit from existing extensive infrastructure, including hydroelectric power infrastructure, year-round maintained highways and local skilled workforce.
Simon Moores of London-based managing director of Benchmark Mineral Intelligence has stated: “A quarter of the cost of an EV is the lithium-ion battery, while four-fifths of the cost of the battery itself is the minerals, metals, and chemicals that go into it. While the world's governments and automakers focus on building EVs and battery plants, a true leader is yet to emerge in building the supply chains to feed them. However, with surging demand for battery metals to serve the expanding EV supply chain, the market opportunity for Canada is growing."
Goldcore is managed by a team with over 150 years collectively with a proven track record of not just finding numerous mines but building and operating them too. The company owns 100% of the Berkwood Resource.
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