Zenyatta Ventures Ltd V.ZEN announced October 11 that Peter Ravenscroft has joined its board. Ravenscroft was most recently Head of Global Exploration for Cliffs Natural Resources, which owns 11.5% of Zenyatta. He worked previously for Rio Tinto, Hamersley Iron, De Beers, Anglo American and Gencor.
Zenyatta owns the Albany property of 300,000 acres in Ontario’s James Bay Lowlands. The company has discovered high-grade vein-type graphite there, and on October 3, it announced that a test conducted by SGS Canada (Lakefield) on concentrates from the Albany Graphite Project had demonstrated a leaching process capable of producing a 97.2% carbon (total) graphite product. Zenyatta has targeted purity levels greater than 99% C, and results from a second series of tests are expected soon.
President/CEO Aubrey Eveleigh spoke to Kevin Michael Grace October 15.
RW: Is your company named after the album by The Police?
RW: You’re a fan?
AE: A big Police and Sting fan. In fact, I’m staring at the album right now. I’ve got it framed in my office.
RW: There was a famous racehorse named after that album as well, wasn’t there?
AE: That’s right. The guy that signed The Police was Jerry Moss.
RW: The “M” of A&M Records.
AE: And Jerry named his horse Zenyatta after the Police album, much like we named our resource company after the album. In fact, I did get a letter from Jerry Moss’ lawyer, and he thought we were trying to steal the thunder from the horse, but we named it after the album.
RW: What’s the significance of Peter Ravenscroft joining your board?
AE: Peter has an amazing bio. He’s done a lot of things worldwide with major mining companies. He brings a lot of experience and a big network of people. It’s a big catch for us to get someone of Peter’s calibre.
RW: You announced results of up to 97.2% carbon October 3.
AE: From our first test. It’s very important to get high purity. The better the quality, the higher the price you’ll get. And everybody is looking for anything over 90%. We’re trying to get to 99% because that’s where the synthetic market is at, 99.5%, and most of the graphite world is using synthetic right now. So where the natural graphite industry is about a billion-dollar market, the synthetic graphite market is about $13 billion. We want to compete in that space.