Cal Graphite sells Sudbury property

Graphite producer Cal Graphite (VSE) reported selling its Sudbury, Ont., property that was acquired for chemical upgrading of its graphite production.

The company, which mines graphite in central Ontario, north of Huntsville, said a combined warehousing and chemical upgrading facility near its mining operation is being contemplated.

The president of Cal Graphite since July, Craig Esterley, has been appointed the company’s chief executive officer.

And the company said it did not proceed with the private placement of 750,000 units announced in July. In the final documentation stage is Cal Graphite’s private placement of 330,000 units announced in September, it said.