WHITEMUD RESOURCES INC. News Release
Calgary – TheNewswire - November 18, 2022 – Whitemud Resources Inc. (“Whitemud” or the “Company”) (TSXV:WMK) is pleased to provide the following marketing and operational update.
This year, 2022, has seen positive indications regarding potential demand for Whitemud’s Enviropozz metakaolin. Numerous cement and concrete companies took the opportunity to run field tests of Enviropozz in their concrete mixes and have had a firsthand opportunity to see the benefits from adding Enviropozz into their cement mixtures. This has resulted in a number of potential new customers considering using Enviropozz on a regular basis in their concrete mixtures commencing in 2023, provided Whitemud can assure a secure supply of the necessary quantity of product and the parties reach agreement on terms. No firm commitments have been made yet, but Whitemud is encouraged by the increased interest in its product.
In addition to the merits of Enviropozz as a pozzolin and its environmentally lower carbon footprint than traditional Portland cements, Envirpozz provides concrete producers with a supply chain cost savings as well.
Whitemud and its marketing team are diligently working to secure offtake agreements to meet minimum volume hurdles to support a capital program for facility upgrades at the Wood Mountain plant and a potential restart of plant operations in Q2, 2023. The upgrades and restart will be required in order for Whitemud to provide the necessary supply commitments to potential customers. In addition to meeting the minimum volume hurdle, Whitemud will need to obtain the necessary financing for the capital program.
Our engineering and technical team has evaluated a series of plant upgrades which would significantly increase the recovery percentage of kaolin from the ore. This would lower the cost per ton of Enviropozz metakaolin produced to be a competitively priced cementitious cement additive.
About Whitemud Resources Inc.
Whitemud is a Canadian-based corporation holding mineral rights to exploit a large kaolin deposit in southern Saskatchewan, together with a processing facility located on the property. Whitemud’s product, Whitemud (MK) is a cement-grade metakaolin that enhances the performance of cement for oil and gas wells and construction applications. The Company uses a process that minimizes environmental impact.
Midstream Energy Partners, a division of Whitemud Resources Inc. formed in 2015, engages in the business of commodity marketing and logistics.
For further information, please contact:
Whitemud Resources Inc.
Suite 900, 332 - 6th Avenue SW
Calgary, Alberta T2P 0B2
Attention: David Koplovich: email@example.com
This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Whitemud’s business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as “attempts”, “intends”, “continues” or “potential”, or variations of such words and phrases, or words and phrases which state that certain actions, events or results “may”, “could”, “would” or “might” be achieved. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Whitemud believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Such statements include statements with respect to the Company attracting new customers and securing firm offtake agreements with such customers and statements regarding the Company’s ability to increase the recovery percentage of kaolin from ore through plant upgrades, resulting in a more competitively priced product. Actual results could differ materially from those anticipated in these forward-looking statements. Potential customers may not enter into firm commitments, the Company may not be able to complete the proposed capital program due to the inability of the Company to obtain financing or sufficient offtake agreements to make the upgrades financially viable. The upgrades may not achieve anticipated efficiencies. Results may also differ as a result of prevailing economic conditions and other factors, many of which are beyond the control of Whitemud. The forward-looking statements contained in this news release represent Whitemud’s expectations as of the date hereof, and are subject to change after such date. Whitemud disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.
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