VANCOUVER, BC / ACCESSWIRE / January 17, 2017 / Electra Stone Ltd. (TSX Venture: ELT) ("Electra") or ("the Company") is pleased to announce that its Joint Venture, Vancouver Jade Mining Corp ("Vancouver Jade") has commenced dimensional Jade manufacturing at the Company's secured facility in Richmond, British Columbia.
Commencing in early February, Vancouver Jade will start production of approximately 32 square feet or one 4'x 8'x 3/4" Slab of semi-finished dimensional jade per day. Slabs will be cut using industry standard stone cutting equipment consisting of a wire slabbing saw, bridge saw, 3 axis CNC machine and a decorative edge trimmer/grinder. The use of this machinery will result in an approximate 80% cost savings over locally sourced manufacturing channels. This pilot scale manufacturing line with its further reduction of input costs increases Vancouver Jades capacity to competitively market finished dimensional jade products both locally and internationally.
An arrangement for the use of the equipment has been made by Vancouver Jade with a private group in exchange for services and maintenance. Vancouver Jade will also have within its capacity an ability to manufacture additional dimensional stone products through internal product channel growth and/or local orders from industry peers.
Vancouver Jade has received its total 2016 season shipment of 200,000 Kgs of Dimensional Jade in large, dimensional blocks at its new jade storage facility in Richmond, BC. Vancouver Jade now offers to the market several dimensional jade products including large dimensional blocks, polished/un-polished slabs and finished luxury furniture products made by Dean Cloutier luxury Design.
For any sales enquiries please email sales@electrastone.com
About Vancouver Jade
Vancouver Jade is Joint Venture undertaken by Electra Stone ltd., Quartz Creek Developments and Dean Cloutier Luxury Designs in Which Electra Currently holds a 48.5% equity stake. Vancouver Jades mission is to develop a local and international dimensional nephrite jade market within the growing luxury dimensional stone market.
About Electra Stone
Electra Stone Ltd. is building a vertically integrated public Nephrite Jade mining, manufacturing & marketing company. Electra is focused on the development of Architectural and Dimensional jade products along with international market growth and trade of Nephrite Jade from British Columbia into Asian markets with a specific focus on China.
For further information and sales enquires on Electra Stone Ltd. please visit www.electrastone.com
Or contact: Tyler Lowes at tyler@electrastone.com or call 604-620-8589.
On behalf of the Board of Directors,
"John Costigan"
President and Director.
Forward Looking Statement
This document contains forward-looking statements. Forward –looking statements in this news release include that Vancouver Jade will be able to purchase produce 32 square feet of semi-finished jade per day, the use of the machinery will result in a cost saving of 80% and that the results of the pilot manufacturing will create a competitive product in the dimensional stone sector . Forward information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Factors which may prevent the forward looking statements from coming to fruition include that the equipment may not operate effectively or efficiently as expected, we may not be able to finance our plans, markets may not develop as expected, we may not be able to develop markets for dimensional or industrial jade and competitors may sell better or less expensive products and take our expected market share. Forward-looking information is provided as of the date hereof and is based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. We assume no responsibility to update, or revise them to reflect new events or circumstances, except as required by law. For a detailed list of risks and uncertainties as it relates to Electra Stone Ltd., please refer to the Company's 2015 financial statements filed with SEDAR.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Electra Stone Ltd.
ReleaseID: 452885
