Abasca Reveals Positive PEA for Loki Graphite Deposit and $2.25M Funding Plan

Abasca Resources Inc. has announced the filing of a Preliminary Economic Assessment (PEA) for its Loki Flake Graphite Deposit in Saskatchewan. The independent technical report showcases a 19-year plan for an open-pit mining operation, producing 66,500 tonnes of graphite concentrate annually. The project is projected to generate a cumulative after-tax free cash flow of approximately US$662 million under base case conditions. The resource estimate includes 6.99 million tonnes of indicated resources at 8.27% Cg and 15.83 million tonnes of inferred resources at 6.93% Cg.

Alongside the PEA, Abasca is raising $2.25 million through a non-brokered private placement to fund ongoing exploration. The placement involves 9 million flow-through shares priced at $0.25 each. These proceeds are intended for Canadian exploration expenses, aligning with tax incentives. This financial initiative supports further exploration efforts and potential project advancements.