Whitemud Resources Inc. News Release January 13, 2022
Calgary – TheNewswire - January 13, 2022 – Whitemud Resources Inc. (“Whitemud” and the “Company”) (TSXV:WMK) provides an operational update.
Commencing approximately 2 years ago, a heightened awareness of the high level of CO2 and greenhouse gas emissions produced worldwide has become a focal point for the cement industry. Canada’s federal government has introduced initiatives to decarbonize industries and for industries to operate with a greener footprint which has been the catalyst for carbon taxes to be levied by the federal and provincial governments. This is transpiring at a time when the demand for raw materials is growing significantly as economies move beyond a severe economic covid downturn. This in turn has precipitated an increase in the cost of raw materials across all commodities. Hopefully this economic turnaround will be sustained. Supply chains have been disrupted for all commodities and consumer goods causing delays in product supply and shortages of many products. Whitemud’s metakaolin is a western Canadian produced product with a shortened supply chain with favourable logistics capabilities.
During the third quarter of 2021, Whitemud undertook a review of its Wood Mountain assets and potential efficiency upgrades in order to assess the viability of bringing the Wood Mountain plant back into production with a lower carbon footprint and a cost effectively produced metakaolin.
Preliminary results to date indicate that better production efficiencies may be achievable. This would result in lowering metakaolin production costs and potentially allow for greater market penetration.
Discussions continue with a number of concrete producers in Canada and the USA to assess their potential demand for metakaolin in their concrete mixes. While no definitive commitments or expressions of interest have been obtained, to date Whitemud is encouraged with the renewed interest that the concrete industry is showing in its metakaolin as a superior, competitive cementitious additive in cement mixes. With the heightened awareness for corporate Environmental, Social and Corporate Governance (ESG), Whitemud believes that metakaolin can play a significant role in helping to reducing the carbon footprint and reducing greenhouse gas emissions for the cement industry.
Whitemud’s historical customer base continues its use of metakaolin as a cementitious cement additive producing superior cement mixes. Whitemud continues working towards aligning itself with one or more strategic partners having sufficient demand for its metakaolin. Such alignment could potentially support a restart of the Wood Mountain plant.
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.
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Whitemud Resources Inc.
Suite 900, 332 - 6th Avenue SW
Calgary, Alberta T2P 0B2
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 variations of such words and phrases or state that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘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 sustainability of the current economic turnaround and the impact of such economic improvement on the Company’s prospects, statements with respect to the ability of the Company to achieve production efficiencies, statements with respect to the market’s approach to the current Environmental, Social and Corporate Governance environment and the impact on the market for the Company’s product and the possibility of increasing the Company’s customer base or finding a strategic partner. Actual results could differ materially from those anticipated in these forward-looking statements 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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