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QUANTUM GRAPHITE LIMITED — Regulatory Filings 2014
Jan 2, 2014
65646_rns_2014-01-02_a060088f-e37c-4c6b-87fa-dfc1459d1d5e.pdf
Regulatory Filings
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VALENCE INDUSTRIES LIMITED
60 Hindmarsh Square, Ground Floor Adelaide South Australia 5000 AUSTRALIA
17 December 2013
Mr Nathan Bartrop Senior Adviser Listings Compliance ASX Compliance Pty Ltd 20 Bridge Street SYDNEY NSW 2000
By email [email protected]
Dear Sir
Retraction of Statement Made by Independent Expert in the Independent Technical Report Contained in the Replacement Prospectus issued by Strategic Graphite Limited (now Valence Industries Limited)
The Company refers to the Replacement Prospectus issued by the Company and dated 15 November 2013 ( Prospectus ).
The Company included in the Prospectus an Independent Technical Report ( Independent Technical Report ) supplied to the Company by Global Resources and Infrastructure Pty Ltd and prepared by their Managing Director, Mr Ian Buckingham who holds a B.App.Sc. (Applied Geology) from the Victorian Institute of Colleges and Fellowship and Associateship Diplomas in Geology (RMIT) with extra studies in mining engineering and primary metallurgy and an MBA from RMIT University and who is a Fellow AusIMM, Member, APPG and Member PESA ( Independent Expert ).
In the Prospectus the Independent Technical Report prepared by the Independent Expert stated on Page 87 of the Prospectus that:
“The historical CRAE Report on this area identified 387Mt at an average estimated grade of 7.4%”
In accordance with the conditions precedent the subject of the decision communicated to the Company by the ASX the Company withdraws and retracts the above statement made by the Independent Expert in the Independent Technical Report as contained in the Prospectus as the retraction in the estimate does not comply with JORC Code 2012, is not to be relied upon and further work is required in relation to the Company’s existing mineral resources.
Yours sincerely,
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Christopher S. Darby Managing Director & CEO Valence Industries Ltd.
ASIA PACIFIC I NORTH AMERICA I EUROPE
ABN 41 008 101 979