Orbite produces its first commercial grade High-Purity Alumina samples
Orbite is pleased to announce its intention to pursue, in the coming months, the listing of its class A shares on the OTCQX, a U.S. based securities market. OTCQX is the premier tier of the over the counter market, and offers international companies a visible presence in the United States of America without the duplicative regulatory burdens of a traditional U.S. exchange listing. Orbite's planned application to the International OTCQX is by no means assured, and all required listing requirements must first be met before a listing may be granted. This listing would lead to an increased fluidity and a broader market for Orbite's shares.
Pursuant to its press release issued on June 26, 2012, the Company confirms that with its patented rare earth and rare metal extraction and separation process, and the collaboration of its two European partners, CMI-UVK and MEAB, it has established the process parameters and final design of the rare earth and rare metal separation technology, This work enabled the successful extraction and separation of commercial samples of other rare earth oxides and rare metals, such as neodymium, dysprosium (both 99.9% pure), cerium (99.5% pure), as well as gallium oxide (99.99% pure).
In addition, Orbite is updating the progression status of its smelter grade alumina (SGA) plant. The basic engineering was commissioned to international industry leaders, qualified to establish the foundation required for the next phase, namely detail engineering leading up to the construction of the SGA plant. The acid purification unit, the clay crushing unit and the integration of sub-systems are on the verge of being completed. Overall, the SGA project basic engineering is more than 90% complete.
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