Copper Mountain Mining Announces Q4 and Full Year 2018 Financial Results

Copper Mountain Mining Corporation (TSX: CMMC | ASX:C6C) (the “Company” or “Copper Mountain” – http://www.commodity-tv.net/c/search_adv/?v=298826) announces fourth quarter and full year 2018 financial results.  All currency is in Canadian dollars, unless otherwise stated.  All results are reported on a 100% basis.  The Company’s Financial Statements and Management Discussion & Analysis (“MD&A”) are available at www.CuMtn.com and www.sedar.com

FOURTH QUARTER 2018 AND FULL YEAR 2018 HIGHLIGHTS

  • Fourth quarter 2018 production was the strongest quarter of the year, with production increasing 9.7% from the prior year to 24.5 million pounds of copper equivalent (comprised of 20.6 million pounds of copper, 8,124 ounces of gold and 62,711 ounces of silver).
  • Full year 2018 production met guidance, with production increasing 4.6% from the prior year to 4 million pounds of copper equivalent (comprised of 78.8 million pounds of copper, 28,250 ounces of gold and 273,913 ounces of silver).
  • C1 cash costs for the fourth quarter decreased 13% compared to the prior year to US$1.60 per pound of copper produced and full year 2018 C1 cash costs decreased 4% compared to the prior year to US$1.77 per pound of copper produced.
  • Revenue for the fourth quarter was $73.1 million from the sale of 19.4 million pounds of copper, 7,475 ounces of gold and 69,761 ounces of silver and revenue for the full year of 2018 was $296.0 million, from the sale of 79.2 million pounds of copper, 26,799 ounces of gold, and 284,086 ounces of silver, net of pricing adjustments.
  • Adjusted earnings per share was ($0.01) for the fourth quarter and $0.02 for the year.
  • Cash flow from operations for the fourth quarter was $28.8 million and $51.3 million for the full year of 2018.
  • In 2018, Mineral Reserves increased at the Copper Mountain Mine, a preliminary economic assessment (PEA) on New Ingerbelle was completed resulting in an after-tax NPV (8%) of US$390 million and a feasibility study was completed for the Eva Copper Project resulting in an after-tax NPV (8%) of US$256 million.

“In 2018, we focused on building a strong foundation from which to grow our business,” said Copper Mountain’s President and CEO, Gil Clausen.  “The Copper Mountain Mine finished the year achieving guidance across all metrics. We are also completing an integrated mine plan which will combine the New Ingerbelle deposit into the Copper Mountain mine plan and may double the mine life. The New Ingerbelle deposit provides the potential to add significant value through the addition of low risk, low cost production, particularly as we evaluate a mill expansion plan, which could allow for increased production levels in our existing mill within our current operating and environmental permits. We expect to complete this integrated life of mine plan and publish a new Technical Report for our Copper Mountain Mine in the first quarter of 2019.”

Fourth Quarter 2018 Financial Review

The Company reported a gross profit for Q4 2018 of $7.9 million, compared to $20.0 million for Q4 2017, and a net loss of $19.0 million in Q4 2018, compared to a net income of $23.5 million in Q4 2017.  The increase in the net loss from net income was primarily a result of a non-cash unrealized foreign exchange loss of $14.7 million compared to a non-cash unrealized foreign exchange loss of $1.8 million for Q4 2017, a change of approximately $12.9 million, which was primarily related to the Company’s debt that is denominated in U.S. dollars. The increase in net loss was also due to lower revenue and higher cost of sales year over year.

The Company recognized revenue of $73.1 million, net of pricing adjustments and treatment charges, on the sale of 19.4 million pounds of copper, 7,475 ounces of gold, and 69,761 ounces of silver and based on an average realized copper price of US$2.81 per pound.  This is compared to Q4 2017 revenue of $85.7 million, net of pricing adjustments and treatment charges, on the sale of to 18.1 million pounds of copper, 5,622 ounces of gold and 67,359 ounces of silver and based on an average realized copper price of US$3.12 per pound for Q4 2017. Despite higher sales, lower revenue year over year was a result of a 10% lower realized copper price in Q4 2018 compared to Q4 2017 and a Q4 2018 mark-to-market adjustment of negative $2.4 million compared to a positive mark-to-market adjustment of $10.3 million in Q4 2017. 

Cost of sales for Q4 2018 decreased marginally to $65.2 million compared to $65.7 million in Q4 2017, even though more concentrate was sold in Q4 2018 than Q4 2017.   This was because Q4 2017 included a $10.8 million write down to the low-grade stockpile, which was included in cost of sales.

Exploration expenditures in Q4 2018 were $1.2 million, which includes exploration in both Australia and British Columbia. 

Full Year 2018 Financial Review

The Company reported gross profit in 2018 of $25.3 million, compared to $59.1 million in 2017, and a net loss in 2018 of $26.9 million, compared to a net income of $67.3 million in 2017.  The increase in net loss in 2018 from net income in 2017 was primarily a result of a non-cash unrealized foreign exchange loss $23.8 million in 2018, compared to a non-cash unrealized foreign exchange gain of $20.9 million in 2017, a change of approximately $45 million, which was mainly related to the Company’s debt that is denominated in U.S. dollars. The increase in net loss was also due to lower revenue and higher cost of sales year over year.

The Company recognized revenue of $296.0 million in 2018, net of pricing adjustments and treatment charges, on the sale of 79.2 million pounds of copper, 26,799 ounces of gold, and 284,086 ounces of silver based on an average realized copper price of US$2.98 per pound.  This compares to revenue of $304.1 million in 2017, net of pricing adjustments and treatment charges, on the sale of 73.9 million pounds of copper, 23,969 ounces of gold and 260,493 ounces of silver, based on an average realized price of realized copper price of US$2.82 per pound. As required under IFRS, revenue in 2017 included a positive mark to market adjustment of $10.7 million for unsettled shipments outstanding at year end, as compared to a negative mark to market adjustment of $0.9 million for 2018 unsettled shipments at year end.

Cost of sales for 2018 increased by $26 million to $270.7 million compared to $245.0 million in 2017. This increase was due in small part to higher costs for diesel fuel, maintenance and power, but primarily due to the change in ore stockpile inventory with a $13.1 million decrease in 2018 charged to cost of sales as compared to a $14.0 million increase in 2017 charged to ore stockpile inventory.  The drawdown of ore stockpiles in the year is a result of increased development stripping as the Copper Mountain Mine starts to expose higher grade areas of the pit for future years.  As required under IFRS, some of these additional costs of stripping are capitalized when the period stripping ratio exceeds the life of mine stripping ratio of 2:1.

Exploration expenditures for the full year of 2018 were $6.5 million which includes exploration in both Australia and British Columbia.

Fourth Quarter 2018 Operating Results Review

In Q4 2018, the Copper Mountain Mine produced 20.6 million pounds of copper, 8,124 ounces of gold, and 62,711 ounces of silver compared to 19.6 million pounds of copper, 5,206 ounces of gold, and 70,384 ounces of silver in Q4 2017. Increased recoveries for all metals and a 5% increase in tonnes milled resulted in strong production results for Q4 2018 and the strongest quarter for copper and gold production in 2018. Increased gold production can be attributed to the new flash floatation circuit installed in the second half of 2018.

Total operating costs (C1) for Q4 2018 were US$1.60 per pound of copper produced, 13% lower than the C1 costs for Q4 2017 of US$1.85 per pound of copper produced. The improvement in costs, when compared to the prior year, is related to several factors including 5% higher copper production in the quarter, a 5% decrease in total mine operating costs in Q4 2018, and a weakening of the Canadian dollar to the United States dollar used when translating C1 costs to United States dollars. It should be noted that substantially all of the Company’s operating costs are priced in Canadian dollars. The decrease in C1 costs is also affected by the levels of deferred stripping in the period as these excess stripping costs are treated as capital expenditures. Deferred stripping costs are captured in all-in-sustaining costs (AISC) and not included in C1 costs. The total cash value of deferred stripping in Q4 2018 was $4.6 million compared to Nil in Q4 2017.

Full Year 2018 Operating Results Review

In 2018, the Copper Mountain Mine achieved annual copper production guidance, producing 78.8 million pounds of copper, 28,250 ounces of gold, and 273,913 ounces of silver compared to 75.8 million pounds of copper, 23,633 ounces of gold, and 277,094 ounces of silver in 2017. This represents an increase of 4% for copper, 19% for gold and a slight 1% decrease in silver production. Increases for copper and gold production as compared to the prior year is a result of improved recoveries and mill throughput in 2018, offset slightly by lower grades being milled in 2018.  Improved recoveries in the mill can be attributed to the installation of the new flash flotation circuit in the third quarter of 2018. Recoveries contributed to strong annual production results which included an increase of total tonnes milled by 3%.

Total C1 costs for 2018 were US$1.77 per pound of copper produced, 4% lower than the C1 costs for 2017 of US$1.84. The improvement in costs per pound is a result of higher copper production in 2018 and slightly lower total mine operating costs when compared to 2017, after taking into account cost associated with increased low-grade stockpile inventories in 2017, as required under IFRS. The decrease in C1 costs was also affected by the levels of deferred stripping in the year as these mining costs are treated as capital expenditures and deferred as required under IFRS. Deferred stripping costs are captured in AISC and not included in C1 costs. The total cash value of deferred stripping in 2018 was $20.2 million, compared to $1.5 million in 2017.

Q4 2018 FINANCIAL AND OPERATING RESULTS CONFERENCE CALL AND WEBCAST

The Company will hold a conference call on Friday, February 15, 2019 at 7:30 am (Pacific Standard Time) for management to discuss the Q4 2018 financial and operating results.

Live Dial-in Information

Toronto and international:          1 (647) 427-7450

North America (toll-free):            1 (888) 231-8191

To participate in the webcast live via computer go to:

https://event.on24.com/wcc/r/1912233/DA8D8425873C22105A0E0F317371DD61

Replay Call Information

Toronto and international:          1 (416) 849-0833                              Passcode: 5973748

North America (toll-free):            1 (855) 859-2056                              Passcode: 5973748

The conference call replay will be available from 12:30 pm (PST) on February 15, 2019 until 20:59 pm PST on February 22, 2019. An archive of the audio webcast will also be available on the company’s website at http://www.cumtn.com.

About Copper Mountain Mining Corporation

Copper Mountain’s flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Copper Mountain mine produces about 100 million pounds of copper equivalent per year with a large resource that remains open laterally and at depth. Copper Mountain also has the permitted, development stage Eva Copper Project in Queensland, Australia and an extensive 397,000 hectare highly prospective land package in the Mount Isa area.

Additional information is available on the Company’s web page at www.CuMtn.com.

On behalf of the Board of

COPPER MOUNTAIN MINING CORPORATION

“Gil Clausen”    

Gil Clausen, P.Eng.
Chief Executive Officer

Website: www.CuMtn.com

Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws.  All statements, other than statements of historical facts, are forward-looking statements.  Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”.  Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements.  Factors that could cause actual results to differ materially from these forward-looking statements include the successful exploration of the Company’s properties in Canada and Australia, the reliability of the historical data referenced in this press release and risks set out in Copper Mountain’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com.  Although Copper Mountain believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all.  Except where required by applicable law, Copper Mountain disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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Ravenquest to exclusively sell seeds from award-winning Amsterdam-based seed producer Dutch Passion

RavenQuest BioMed Inc. (the “Company” or “RavenQuest”) – (CSE: RQB, OTCQB: RVVQF, Frankfurt: 1IT – http://www.commodity-tv.net/c/search_adv/?v=298814) is pleased to announce it has entered into a Letter of Intent to be the exclusive distributor of seeds from award winning, Amsterdam-based, cannabis seed producer Dutch Passion.

Having won 50+ Cannabis Cups awarded for high-THC and high-CBD varieties of cannabis which are particularly easy to grow, Dutch Passion invented feminized cannabis seeds in the 1990’s and helped pioneer the success of high-THC Autoflower cannabis in more recent years. Dutch Passion is one of the world’s oldest cannabis seedbanks and one of the few remaining original seed companies, offering a variety of original classic cannabis varieties as well as some of the very best new varieties, available in Regular, Feminized as well as Autoflower seeds.  Dutch Passion was founded in the 1970’s and formally established as a seedbank in 1987.

RavenQuest believes that its arrangement with Dutch Passion will address two distinct market segments in Canada for home-growers and micro-cultivators: Premium market “Dutch Passion” and value-market “SeedStockers”, which will also be sold under RavenQuest’s private label.

Dutch Passion seeds will give Canadian home-growers and (micro) Licensed Producers access to a wide selection from over 60 premium seeds including Cannabis Cup award winning “Orange BudÒ”, “Power PlantÒ”, “Glueberry O.G.Ò”, “MazarÒ”, “CBD Skunk HazeÒ” and “EuforiaÒ”.

“We are thrilled to partner with Dutch Passion to sell these high-quality seeds across Canada. Working with Eric Siereveld, CEO of Dutch Passion, has been a pleasure” stated George Robinson, CEO of RavenQuest. “Canadians are now permitted to grow up to four plants at home. This is a significant, high margin business segment and a new revenue stream with excellent near-term growth potential. As part of RavenQuest’s ongoing commitment to deliver the best of the cannabis plant to Canadians, we look forward to partnering with such a respected name in the seed business” Robinson continued.

Dutch Passion CEO, Eric Siereveld, commented that “We are excited to make some of the world’s best seeds available to grow-enthusiasts and (micro) LP’s in the Canadian marketplace. Canada has shown a healthy and progressive acceptance of cannabis, which is reflected most recently in adult-use legalization allowing home cultivation. Working with RavenQuest as our exclusive distributor is a perfect fit for Dutch Passion, given both companies’ passion for the cannabis plant in all its forms. RavenQuest believes all great cannabis products begin with the plant itself. We couldn’t agree more.”

About Dutch Passion

Dutch Passion is a Dutch company with over 30 years’ experience in the development and distribution of cannabis seeds. Dutch Passion is focused on producing high-quality, high-THC cannabis genetics and on providing attentive customer service through its experienced customer service team. Dutch Passion’s diverse seed collection of international cannabis genetics dates back to the 1970s, with all varieties having passed strict tests designed to ensure ease of growth, heavy yields and high-quality results. In the 1990s, Dutch Passion invented feminized cannabis seeds and, more recently, helped to pioneer the success of high-THC auto-flowering cannabis seeds plus new genetics high in other cannabinoids. Further information about Dutch Passion can be found on their website at www.dutch-passion.com.

About RavenQuest BioMed Inc.

RavenQuest BioMed Inc. is a diversified publicly traded cannabis company with divisions focused upon cannabis production, management services & consulting and specialized research & development. RavenQuest is a licensed producer with facilities located in Markham, Ontario and Edmonton, Alberta.

RavenQuest maintains a research partnership with Montreal’s McGill University focused upon cultivar (strain) recognition, plant stabilization and yield maximization of the cannabis plant. The Company focuses on partnerships with Indigenous communities.

On Behalf of the Board of Directors of RAVENQUEST BIOMED INC.

“George Robinson” Chief Executive Officer

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including statements with respect to the belief that the arrangement with Dutch Passion will address certain markets in Canada, the entering into of a definitive agreement with Dutch Passion and the potential of the cannabis seed market in Canada. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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PFEIFER celebrates 440 years of existence

Nowadays, the PFEIFER Group is an international employer with more than 30 sites in 19 countries and ambitious growth targets. We belong to the market leaders in the fields of Rope & Lifting, Rope Technology, Lightweight Architecture and Building Systems. We provide high-tech ropes for the biggest cranes, the highest elevators and cables for the most spectacular stadiums in the world. At the same time, we can look back on such a long corporate history that is possibly unrivalled in the industry.

The rope-manufacturing company of the Pfeifer family was first officially mentioned on February 13, 1579. Which means that today, we are able to celebrate the 440th anniversary of the company. The ropery was operated as a traditional handicraft enterprise by the ancestors of the Pfeifer company in the Old Town district of Memmingen for generations. Production focused mainly on hemp and natural fibre ropes.

Premium supplier

From the 1950s onwards, the former three-man business developed into a modern industrial enterprise. The latest machines were purchased, modern production halls occupied and new employees recruited to mark the beginning of the manufacture of steel wire ropes. This was complemented over the years by additional product segments and business units such as Connecting and Lifting Systems and Lifting Technology. PFEIFER developed into the premium supplier within the industry.

Pioneer of lightweight architecture

At the beginning of the 1970s, the erection of the Olympic Stadium in Munich was the starting signal in the field of lightweight architecture. Today, we are the only company to offer the entire service portfolio in the sector, and now realize modern designer construction projects all over the world.

Internationalization

At the end of the 1980s, the company had already expanded to such an extent that it was accommodated in nine different building complexes in Memmingen. Therefore, a generous, modern factory was occupied in Dr.-Karl-Lenz-Straße, which is still the registered headquarters of our Group today. Then, from the 1990s, the increasing international orientation of the company began.

Motivated team

All of these accomplishments are attributable to a dedicated team of more than 1600 employees and apprentices, who contribute their wealth of know-how every day to our customers and projects worldwide. This passion and expertise are the driving forces of the traditional company PFEIFER since 440 years.

Learn more about our history here.

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Mechanized tunnelling in mining – efficiently and safely into the depths

Global demand for ores is steadily rising. It is therefore becoming increasingly attractive to mine raw material deposits even at greater depths. Whether and when development is economically viable is determined, among other things, by the technology in use. With 40 years of mechanized tunnelling expertise, Herrenknecht develops innovative machine concepts for the mining market, setting new benchmarks in terms of efficiency and safety.

Whether for vertical access or production shafts, sloping access ramps, ventilation shafts or transport routes – Herrenknecht offers a wide range of drilling and boring equipment for the mining sector. In the construction of underground infrastructures for the extraction of raw materials, reliability, safety and efficiency are pivotal. Herrenknecht’s innovative mining machines are based on proven principles and over 40 years of mechanized tunnelling experience. They are optimally suited for the safe, speedy and efficient mechanized construction of shafts, galleries and horizontal drives in all areas of mining. The technologies are used for the smallest and for large diameters and penetrate into any geology and depths of up to 2,000 meters. Project-specific designs take contractor wishes into account. For muck removal pneumatic, hydraulic or mechanical methods can be used or the excavated material is removed to a lower level via a pilot hole.

Shaft boring technology – highest precision under the toughest conditions

The Herrenknecht mining portfolio includes a variety of mechanized shaft boring technologies: Shaft Boring Roadheader (SBR), Shaft Boring Cutterhead (SBC), Extension Shaft Boring Machine (SBE), Vertical Shaft Sinking Machine (VSM), Shaft Drilling Jumbo (SDJ) and Shaft Boring Machine (SBM). Each has different advantages depending on the jobsite requirements and general situational conditions. Thanks to simultaneously executable workflows, high sinking speeds are possible. At the same time, these mechanized methods improve work safety in mines considerably.

Mobile boring technology – flexible and powerful boring

In addition to large shaft sinking systems, Herrenknecht has mobile boring technology in its portfolio. A compact design is combined with innovative solutions and thus offers a high degree of flexibility. The Boxhole Boring Machine (BBM), for example, is based on the principle of proven horizontal pipe jacking technology and creates vertical and inclined shafts with small diameters in stable hard rock. BBMs as well as Boxhole Backreaming (BBR), Reef Boring Machines (RBM) and Raise Boring Rigs (RBR) work efficiently and reliably even in the tightest of spaces and the hardest of rock – remote controlled too, if the situation requires it. Their modular design makes them easy to transport and quickly mobilizable. Each machine is equipped for the specific project, including, for example, the individual assembly of the boring machine with the appropriate cutting tools.

Safety and experience underground

In the mechanized creation of underground mining infrastructures, Herrenknecht sets the highest standards of health protection, work safety and quality. As a technical pioneer, the company will continue to develop new technologies together with contractors and clients to make the construction of underground infrastructure in mines even safer and more economically efficient.

With experience from more than 4,100 projects, Herrenknecht is the technology and market leader in the area of mechanized tunnelling technology. Herrenknecht is the only company worldwide to deliver cutting-edge tunnel boring machines for all ground conditions and in all diameters – from 0.10 to 19 meters. The product range includes tailor-made machines for traffic, supply and disposal tunnels, the mining sector, technologies for pipeline installation as well as deep drilling rigs.

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The future tunnels: Herrenknecht at bauma 2019

The future is forging its way through the underground, where intelligent infrastructures are being built, future-proof mobility solutions designed and the habitat of the growing world population expanded. As a full-range supplier of mechanized tunnelling technology, Herrenknecht, together with its highly specialized subsidiaries, supports the construction industry in all underground challenges. At bauma 2019 in Munich, the world market leader shows where the journey of tunnelling can go with high-tech.

The golden age of tunnelling and the underground is driven by the unbroken trend toward urbanization, the increasing demand worldwide for mobility and the associated need to build new, efficient infrastructures underground. In the coming decades, hundreds of new megacities will emerge and today’s metropolises will grow to unbelievable sizes. Gigantic urban habitats whose citizens need housing, drinking water, and environmentally friendly, flexible and affordable mobility concepts. The interconnectivity between nations and metropolises is becoming ever denser, more complex and faster.

An obvious, almost inevitable solution: systematic urban development underground. This requires efficient metro and high-speed rail networks, well-connected traffic and transport systems as well as efficient sewage, water, oil, gas and energy systems. With its expertise and technology, Herrenknecht is particularly involved in projects with very complex technological requirements. A case in point is the "Grand Paris Express" metro expansion program. With more than 200 km of new metro lines, new perspectives are opening up for the growing hinterland around the French capital.

Under the motto "The future tunnels", at bauma 2019 Herrenknecht presents visionary urban planning in Paris, current and future tunnel projects as well as groundbreaking technology innovations. With its expertise from milestone projects worldwide and as a passionate underground pioneer, Herrenknecht shows how the partners in mechanized tunnelling move forward together safely, quickly and reliably. In a total of four exhibition areas, visitors of the trade show will enter into a dialog about what Herrenknecht is working on to open up new underground terrain and make it usable for people. At the outside booth, technology will be shown live and touchable.

Bauma is the world’s leading trade show for construction machinery, building material and mining machines, construction vehicles and equipment. As the leading industry event, the world’s largest trade show sets the trends for the future.

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More range for electric vehicles: functionalized thermoplastic sandwich components within minutes

In times of impending bans for diesel and generally internal combustion engine (ICE) vehicles, battery electric vehicles (BEVs) are becoming increasingly interesting for buyers, especially in urban environments. Boosting battery capacities enable longer travels, however driving range of EVs varies especially at low ambient temperatures. Within the EU project “OPTEMUS” (Optimized Energy Management and Use), a large number of efficiency-enhancing technologies were therefore developed and holistically linked, in particular to reduce the range variation of a Fiat 500e EV. This includes a traction battery with thermal storage capacity, which the Fraunhofer Institute for Structural Durability and System Reliability LBF has developed with partners. The focus is on a novel sandwich battery housing made of continuous fibre reinforced thermoplastics (CFRTP), which helps to insulate stored heat in the traction battery for preconditioning. Fraunhofer LBF will present its research results from 12 to 14 March 2019 at the JEC trade fair in Paris at the Hessen joint exhibition in Hall 5, booth G71. More information is available at http://www.lbf.fraunhofer.de/jec2019

The heat storage material developed by Fraunhofer LBF can be used to precondition the temperature-sensitive battery cells in cold weather before the ride and to keep them at an optimum operating temperature using the thermally insulating CFRTP sandwich housing. An active temperature control can thus often be avoided. Conversely, it is possible to mitigate short-term, unwanted heat increases of the battery, which may arise during fast charging. »The material, structure and process technologies we have developed guarantee the driver a more reliable and consistent range of his BEV. In addition, vehicle developers and designers benefit from a new process technology for lightweight construction and functional integration", explains Felix Weidmann, who was responsible for the research project at the Fraunhofer LBF.

Mechanical and thermal requirements are provided by the novel CFRTP battery housing. This is composed by a sandwich structure based on UD tape facesheets (UDMAX™, SABIC) covering an integral polymer foam core. While the foam core provides thermal insulation, the facesheets bear most of the loads. For this purpose, LBF scientists consolidated UD tapes into a cross composite which was preformed into three dimensional (3D) composite facesheets. Between these 3D facesheets, the polymer foam core is injection moulded using a novel hybrid in-situ manufacturing process. The resulting sandwich construction has several advantages: It offers high lightweight potential and enables high specific bending properties and impact resistance. In addition, it provides a high level of protection against intrusion events, which play a major safety role especially in battery packs.

In order to meet automotive requirements, the material and structure concept has been developed with respect to high volume applications. The manufacture of the OPTEMUS battery housings is realized by a hybrid manufacturing process developed at the Fraunhofer LBF, which makes it possible for the first time to provide CFRTP sandwich component with function integration and thermal insulation in a mere 2 minutes.

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Diamonds, Nanotubes and Onions made from Carbon

For the 5th time the Network NanoCarbon would like to invite you to the Annual Conference in Würzburg, Germany, from 26-27 February 2019. The event offers an open forum to the nanocarbon community for exchanging results and ideas. It is the most important communication platform for innovative and commercial activities in the field of carbon nanomaterials (e.g. CNTs, graphenes and nano-diamond) within Germany and beyond [1].

The product portfolio of Berlin based LUM GmbH provides innovative analytical instruments for the characterization of the entire life cycle of carbon materials, for carbon black and graphene, nano-diamonds, Carbon nanotubes and Carbon onions.

For the quality control of raw materials, on the basis of their particle size distributions, the Dispersion Analyser LUMiSizer is used for nanoparticles. For the characterization of dispersibility and separation stability or shelf life the user needs to know the product properties in its original concentration. This requirement is also fulfilled by all measuring instruments of the product families LUMiSizer and LUMiReader. Depending on the formulation properties and application the samples are measured in real-time or directly physically accelerated, to obtain the information in time lapse mode, instead of waiting for weeks, months or even years.

Complex interactions between particle surface properties, dispersibility and resulting suspension quality can be described by the Hansen Dispersibility Parameters. Prof. Dr. Lerche, Managing Director of LUM GmbH, is invited to show all conference participants an easy measuring approach for carbon black, with his scientific talk Carbon allotrope particle surface changes due to applied dispersing energy.

Applying Centrifugal Adhesion Testing Technology the LUMiFrac instrument determines adhesive and bonding strengths of composites. So it is used not only for coatings and treated surfaces but also for the characterization of composite materials, e.g. in automotive or aviation industries. Featuring a large force range and a clamping-free sample preparation, the LUMiFrac offers a wide application range. The simultaneous analysis of up to eight samples provides the operator with a high sample throughput under identical test conditions.

LUM is pleased to be a selected Diamond Sponsor of the NanoCarbon Conference 2019 to support the further scientific development of the nanocarbon research areas.

[1] https://www.nanoinitiative-bayern.de/… 13.2.2019

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LiSS Firewall-Systems – European Concept without Backdoor

LiSS appliances combine essential security functions in a single device. Sensitive corporate networks are optimally protected from viruses, hackers, unwanted email and web content.

– Multi-level firewall
– Stateful inspection
– Intrusion detection
– Virus scanner
– VPN router
– SPAM- and web content filtering
– Https filter

The modular system provides customized solutions consisting of an optimal hardware platform and need-based compilation of functions. One VPN module is included in the security appliances by default. High availability can be achieved by combining two devices in failover mode. For higher requirement of performance and reliability, there is the possibility of clustering.

LiSS industrial series was developed specifically with application in the industrial environment in mind. The compact system works reliably in temperatures ranging from -40°C to 70°C. Through integrating optional mobile capabilities 3G/UMTS and 4G/LTE and a power supply ranging from 12 to 48 VDC self-contained operation is possible.

http://www.lantechcom.eu/

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Millennial Reports Positive Pumping Test Results from Second Pumping Well at Pastos Grandes Project, Argentina

Millennial Lithium Corp. (ML: TSX.V) (“Millennial” or the “Company” – http://www.commodity-tv.net/c/search_adv/?v=298600) is pleased to report encouraging results from an extended pumping test of a second production-scale well at its Pastos Grandes Project in Salta, Argentina. Pumping well PGPW17-04 was installed to complete extended pumping of lithium brine to determine the robustness and chemical variation of the aquifer over 23 days in September, 2018. At a pumping rate of 15 litres/second (L/s), the lithium content remained consistent over the trial period and the drawdown was approximately 57 metres (m), with rapid recovery.  Estimated transmissivity was calculated from the drawdown data at 40m2/day.  The pumping test was completed under the direction and supervision of Montgomery and Associates.

Millennial President and CEO, Farhad Abasov, commented: "Millennial is very pleased with the results of this second pumping test in the central portion of the Company’s land position at Pastos Grandes over a significant 23 day time frame. This is another important milestone in our ongoing development program. The pumping rate was 15 L/s from September 7 to 30th with a draw-down of 57m with full recovery to initial levels after 24 days of recovery. Lithium concentrations remained consistent throughout the pumping test ranging from 482 mg/L to 518 mg/L and averaging 495 mg/l.  The transmissivity of the 40m²/day is encouraging and indicates the aquifer has good potential to sustain long term pumping at 15 L/s  The brine from the pumping test was utilized to feed the large scale pilot ponds currently in operation which will  provide concentrated brine for the Company’s pilot plant scheduled for operation in Q2, 2019. With a strong cash position Millennial is on track to produce an updated 43-101 resource report in Q1 and complete the Bankable Feasibility Study in Q2 2019."

Well PGPW17-04 was drilled using the mud rotary method to a total depth of 475m using 15” and 13.5” diameter drill bits.  The well was completed with 10” and 6” diameter steel pipe with 10” blank pipe for the section from 0m to 113.4m, with 6” slotted pipe for the section from 113.4m to 464.3m and 6” blank casing from 464.3m to 470.4m with an end cap.  The annular space between the borehole and the casing were filled with gravel pack.

Constant flow pumping test was completed with a flow rate of 15.2 L/s with 23 days of pumping and 24 days of recovery water level measurements (See Table 1).  Maximum drawdown was approximately 57m which was achieved after 2 days and full recovery of the well was observed after 24 days.

The drawdown and recovery data provides the basis for the calculation of the aquifer transmissivity, the rate at which the brine moves through the aquifer.  The best estimate of the transmissivity is 40 square metres per day (m²/d) and is considered to be good for fine-grained aquifers.  Based on this transmissivity calculation, the aquifer has good potential to sustain a long term pumping rate of 15 L/s.

Brine sampling during the pumping test was completed every on a daily basis to determine the variation in brine chemical composition over the entire period the aquifer was tested.  In general, the chemistry is consistent over the 23 day period with lithium ranging from 482 mg/L and 518 mg/L and averaging 495 mg/L.  The best lithium values occur during the last five days of the pumping test.  The magnesium to lithium (Mg/Li) ratio averages 5.3 and the average potassium to lithium ratio (K/Li) is 10.5 and the average sulphate to lithium ratio (SO4/Li) is 16.4.

Millennial continues to evaluate and define the characteristics of the lithium-bearing aquifer in the southern portion of its land package with pumping wells PGPW18-15 and PGPW18-17.  Both wells are in development and are planned for completion in Q1 2019 with short term pumping tests and brine sampling to follow. 

Sampling was conducted in accordance with CIM guidelines for brine resource evaluation, with an appropriate chain of custody and QA/QC program in place for ensuring veracity, accuracy and precision of the analytical results.

The primary analytical laboratory for the data used in this program is the SGS Laboratory in Buenos Aires, Argentina.  SGS is accredited to ISO 9001:2008 and ISO14001:2004 for their geochemical and environmental labs for the preparation and analysis of numerous sample types, including brines.

This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and a Qualified Person as that term is defined in National Instrument 43-101.

To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information.  These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

 

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Tamper-proof labelling with artimeltsurface

Not only drug manufacturers are faced with the essential obligation to tamper-proof their cardboard packaging as a result of the new European anti-tampering guideline which took effect on 9 February 2019. Other manufacturers are also increasingly looking for new ways to label or seal their products in such a way that consumers can clearly recognise whether the packaging is still in the originally sealed manufacturer’s condition or if it has already been opened. Labels with exceptional adhesive properties that damage the carboard when removed play a crucial role in this. Conventional adhesives in particular fail to provide strong enough adhesion of labels on high-quality lacquered surfaces and the labels can be removed relatively easily. With artimeltsurface, artimelt has developed an adhesive that attaches itself increasingly more powerfully to the surface as time passes by. Whenever it is attempted to remove a label coated with artimeltsurface, the label will tear, or the surface of the underlying packaging will be damaged.

The new adhesive artimeltsurface will be presented at ICE – the leading international trade fair for the finishing and processing of paper, film, and foil – from 12 to 14 March 2019 in Munich.

artimeltsurface also adheres to surfaces that contain silicones

Many cardboard boxes do more than just packaging and protecting the actual product: they should also look attractive, leave a sophisticated impression, and stimulate the customer to buy, especially with quality contents. Representative packaging is elaborately printed, partially embossed, and coated with a high gloss or matte varnish to protect against soiling and damage. “Varnishes must have special additives to fulfil the desired functions,” explains Wolfgang Aufmuth of artimelt AG. Silicone is often used as one of these additive components. With its low surface tension, silicone repels greases, dirt, and dust. At the same time, adhesives also stick very poorly to surfaces that contain silicones.

artimeltsurface has been designed to create a stronger connection with the silicone-containing surface as time goes by. “Laboratory analyses on siliconised surfaces have shown that the adhesive properties grow ever stronger.” Already after a few days, the label can no longer be removed from the underlying surface without leaving traces. During the tests, the labels were destroyed completely. Only small label parts could be removed from the packaging while leaving clearly recognisable cracks in the previously covered varnishing of the packaging, showing that the cardboard has been tampered with.

artimeltsurface can also be used for adhesions under submerged conditions. Tests have shown that adhesive tapes fitted with artimeltsurface adhere properly to smooth, submerged surfaces. This also allows, for example, for the covering of cracks in swimming pools from the inside without having to let the water out.

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