03:41 PM EDT, 09/27/2018 (MT Newswires) -- Canada Carbon (CCB.V) surged 18.2% Thursday to $0.12 apiece at last look in a 52-week range of $0.04 - 0.17, while surging as much as more than 20% in the intra-day trade, following the signing of a non-binding MOU for the supply of its Miller nuclear purity graphite to Dunedin Energy Systems.

Dunedin is an arm's length Canadian developer of small modular nuclear reactors.

Canada Carbon will supply 200 tonnes per annum of Miller nuclear purity graphite over a 10-year term, with a floor price of USD $40,000 per tonne.

CEO Bruce Duncan said: "The Company has now begun building its book of business as evidenced by this initial agreement with Dunedin Energy for this important initiative for Canada. This MOU represents over 13% of the Company's planned annual production of 1,500 tonnes per annum as projected in the Preliminary Economic Assessment (PEA) filed to SEDAR on April 14th, 2016."

Duncan added: "The projected revenue per tonne under the Dunedin MOU agreement represents a significant increase over the revenue per tonne used in the PEA to determine the economics of the Miller Project. The costs for the production of nuclear purity graphite estimated in the PEA were CDN $6,880 per tonne over the first five years of production."

Price: 0.13, Change: +0.02, Percent Change: +13.64