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Fourth High Grade Graphite Discovery At Springdale Graphite Project – ‘Mason Bay’
International Graphite Limited (ASX:IG6) (IG or the Company) has received assays for the first 15 reverse circulation (RC) drill holes at the previously undrilled exploration target Mason Bay (formerly known as SDE_1) approximately 2km east of the existing Springdale Mineral Resource (see Figure 2).
HIGHLIGHTS
- Assays for 15 reverse circulation (RC) drill holes show strong graphite results from a previously undrilled exploration target Mason Bay (formerly SDE_1) located ~2km east of the existing Springdale Mineral Resource (refer Figure 1 and Table 3).
- Flotation work on samples from Mason Bay show 95%+ graphite concentrate and recoveries exceeding 93%.
- A total of 60 RC holes completed at Mason Bay for ~5,056m. Average hole depth 84m.
- Standout assay results1 for the first 15 holes assayed include:
- 15m @ 11.3% Total Graphitic Carbon (“TGC”) from 38m downhole (SGRC0075).
- 16m @ 11.7% TGC from 13m downhole (SGRC0076).
- 6m @ 13.3% TGC from 31m downhole (SGRC0076).
- 19m @ 8.4% TGC from 55m downhole (SGRC0076).
- 9m @ 17.3% TGC from 33m downhole including 4m @ 29.3% TGC from 34m downhole (SGRC0077).
- 5m @ 9.7% TGC from 82m downhole (SGRC0077).
- 2m @ 9.2% TGC from 59m downhole (SGRC0078).
- Drilling has now been completed with a total of 12 diamond and 261 RC infill and exploration holes drilled since June 2022 for ~20,465m.
International Graphite Managing Director and CEO Andrew Worland said: “Mason Bay is our fourth discovery since we started drilling at Springdale in mid-2022. The fact that it is so close - only 2km east of the existing Springdale mineral resource - makes it particularly exciting.
“Initial flotation tests on samples from Mason Bay drilling2 demonstrate that it is ideal for producing high grade graphite concentrate with excellent recoveries.
“This reinforces our confidence that Springdale, including Mason Bay, has all the attributes necessary for a highly competitive concentrate operation -- consistent, shallow mineralisation, with high grade graphite zones and outstanding flotation characteristics.
“We expect to revise the mineral resource estimate for the Springdale Graphite Project as soon as we have the remaining assays for both Springdale and Mason Bay.
“We also see significant opportunity for more graphite discoveries at Springdale in the future. Anomalies to the north of the existing mineral resource (see Figure 2) cover an area similar in size and are yet to be tested.”
Figure 1: Location of International Graphite projects
Figure 2: Airborne electromagnetic survey (AEM) image showing conductive material in relation to resource areas and new targets at the Springdale Graphite Project
The drilling program at Mason Bay consists of 60 RC drill holes for approximately 5,056 metres. It is one of seven high priority exploration targets identified by the airborne electromagnetic (AEM) survey.
Click here for the full ASX Release
This article includes content from International Graphite, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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International Graphite
Overview
Unprecedented demand for battery metals is swinging attention to graphite and the critical role it plays in the batteries needed to power electric vehicles and renewable energy, and global hopes for a sustainable future.
This is where International Graphite (ASX:IG6) comes into play. Based in Western Australia, the company is on track to be one of Australia's first mine-to-market graphite producers and a new supplier of battery anode material to global battery manufacturers.
Of all the components in a lithium-ion battery, the biggest volume is in graphite which makes up 95 percent of the battery anode. It can take 50 to 100 kilograms of graphite to make a single battery – up to 10 times more graphite than lithium.
Photo credit: Visual Capitalist
Analysts agree that demand for graphite is inextricably linked to the surging demand for clean energy and graphite is in limited supply. The world now faces a significant shortage – one which will only grow more severe as economies ramp up their efforts to achieve net-zero.
The United States alone predicts a graphite shortfall of up to 1.2 million metric tons by 2030, to say nothing of how severe the shortage is likely to be on a global scale.
The graphite supply chain is racing to keep pace. Benchmark Mineral Intelligence predicts the world will need at least 97 new flake graphite mines by 2035. Although opening new graphite mines is a good start, the raw material alone will not meet the need for high quality, processed graphite suitable for making battery anodes. Currently, nearly every kilogram of battery anode material is processed through China and battery manufacturers worldwide are looking for additional and alternative supply. The pressure is on resource nations worldwide to develop downstream processing capability.
International Graphite is currently developing a planned graphite mine at Springdale, on Western Australia’s south coast, linked to a state-of-the-art research and downstream processing hub in the industrial town of Collie.
A pilot scale micronising and spheroidising plant has been commissioned at Collie, which is in the centre of Western Australia’s main electricity generation grid. A graphite micronising plant, with a capacity of approximately 4,000 tons per annum (tpa), is expected to be operational in 2024.
The company’s vision for a complete mine-to-market business is designed to achieve maximum value from the natural graphite resource. Operating exclusively in Western Australia, it leverages one of the most attractive jurisdictions in the world for resource investment with the backing of supportive government policy and an ethical graphite supply chain built on the United Nations Sustainable Development Goals.
Ultimately, International Graphite is designing its entire business to be as efficient and sustainable as possible, bringing new graphite supplies to market, new jobs to Australian regional communities, and new export opportunities to the nation. Its model is closely aligned with the Australian Government's critical minerals strategy and the Western Australian Government's vision for a world-class renewable energy and battery hub around Collie.
To date, International Graphite has received more than AU$6.7 million in combined state and federal government investment.
Company Highlights
- International Graphite (ASX:IG6) is on track to be one of Australia's first mine-to-market graphite producers and a new supplier of battery anode material to global battery manufacturers.
- Primary focus is battery anode material for lithium-ion batteries, supporting the global revolution in electric vehicles and green energy technologies.
- Operating exclusively in Western Australia, one of the world’s most reliable and attractive jurisdictions for resource investment and mineral supply.
- Currently developing a planned graphite mine at Springdale and a state-of-the-art research and downstream processing hub in the industrial town of Collie.
- 100-percent company-owned graphite resource at Springdale is expected to support a long life mining operation ensuring a secure, stable supply of graphite concentrate feed for value-added processing.
- Downstream facilities being developed in Collie – the heart of Western Australia’s power generation infrastructure.
- A micronising pilot plant has been commissioned with commercial micronising scheduled by 2024.
- Enormous graphite potential at Springdale Graphite Project following successful 2022/2023 drilling campaign.
- Total Springdale mineral resource estimate grew from 15.3 Mt @ 6 percent total graphitic carbon (TGC) to 49.3 Mt @ 6.5 percent TGC, making it the second largest known graphite deposit in Australia.
- The Springdale Graphite Project was named Discovery of the Year in the 20th annual Australian Mining Prospect Awards.
- The integrated business is underpinned by strong technical expertise and rigorous environmental social and governance standards.
- Strong community support including AU$6.7 million Australian government investment.
Key Projects
Springdale Graphite Resource
Outstanding results have been achieved from exploration drilling at Springdale, on Western Australia’s south coast, where International Graphite owns a high-grade fine flake graphite deposit.
Comprising three exploration licenses and a prospecting license covering a total area of 180 square kilometers, International Graphite’s Springdale Project is located 25 kilometres east of Hopetoun and 150 kilometres from the port of Esperance on Western Australia’s south coast.
An extensive drilling program has been completed defining four new graphite targets from the first of seven potential anomalies identified by aeromagnetic survey. These are located very close to the existing mineral resource. Extensive areas are yet to be investigated and the company is confident that additional reserves will be discovered in the future.
Metallurgical testing has shown that the Springdale resource is well-suited to battery anode material production and would support a long-lived shallow open-pit mining operation.
Completion of the extensive 2022-2023 drilling campaign has paved the way for an increased mineral resource estimate that hailed the Springdale Graphite project as the second largest known graphite deposit in Australia. Total Springdale mineral resource estimate has been expanded from 15.3 Mt @ 6 percent total graphitic carbon (TGC) to 49.3 Mt @ 6.5 percent TGC.
Project Highlights:
- Prime Location: Located in a world-class mining hub with established services and infrastructure. Notable operations in the area include First Quantum Minerals' (TSX:FM) Ravensthorpe Nickel Mine, and Galaxy Resources' (ASX:GXY) Mt Cattlin Lithium Mine.
- Promising Geology: The project is located on cleared agricultural land and within the Albany Frazer Belt, one of Australia's foremost exploration regions.
- Existing Resource: An inferred mineral estimate puts the Springdale Resource at 15.6 million tons of graphite at 6 percent total graphitic carbon content (TGC), including a high-grade inferred mineral resource of 2.6 million tons at 17.5 percent TGC.
- Excellent Drilling Results: A strong 2022-2023 drilling campaign paved the way for a new mineral resource estimate making the Springdale Graphite Project the second-largest known graphite deposit in Australia. The company has completed 20,466 meters of drilling since June 2022, building on 7,900 meters of prior drilling. Results include four new graphite discoveries and confirmation of high-grade domains in the existing resource model and block performance.
- Sustainable Mining: Mining will involve multiple shallow open pits, targeting weathered/oxide mineralization zones. The operation will primarily comprise free digging with limited drilling and blasting.
- High-quality Mineralisation: Metallurgical analysis has shown that a 95 percent graphite concentrate can be made from Springdale and can be upgraded to battery grade 99.95 percent through purification.
- Downstream Processing: Graphite concentrates produced at Springdale will be transported 450 kilometres by road to Collie, where International Graphite plans to construct a graphite micronising facility and an advanced battery anode material manufacturing plant. A pilot micronising plant – one of the most advanced of its kind in Australia – was commissioned in 2022.Collie Downstream Processing
Collie Downstream Processing
International Graphite’s multifaceted processing operation will incorporate state-of-the-art research and development facilities with separate operations for graphite micronising and battery anode material production.
A pilot scale graphite micronising and spheroidising equipment commissioned in 2022 has since been upgraded to a larger, qualification scale plant which will launch the International Graphite brand in world markets and provide product samples for customer testing and qualification.
A definitive feasibility study has been completed for the establishment of a commercial scale micronising operation at Collie with a nominal capacity of 4,000 tpa. Besides being a product in its own right, micronised graphite is also a by-product in the manufacture of battery anode material. The micronising plant is expected to be operational before the end of 2024 and will use imported graphite concentrate feed until the Company’s Springdale mine and concentrator comes online creating a fully integrated circuit.
This approach is strategically timed to generate early cashflow for the business, as well as establishing early markets.
An initial scoping study has also been released for the establishment of a second manufacturing operation that will produce coated and uncoated purified, spheroidised graphite for lithium-ion battery anodes. Land has been earmarked at Collie with construction expected to commence in 2026.
Located at the southern end of Western Australia's main industrial strip, the town of Collie has many strategic advantages for industry. The Western Australian Government has committed an unprecedented AU$650 million to support regional economic growth and to advance the region as a hub for critical mineral processing and renewable energy.
Highlights:
- Emerging battery and renewable energy hub:
- Collie is the centre of Western Australia’s electricity generation infrastructure transitioning from coal
- strong investment in renewables ensures ready access to “green” power
- skilled technical workforce and training facilities
- efficient transport with extensive road and rail infrastructure
- strong community and government support for International Graphite
- Established R&D Facilities:
- first premises and R&D hub established in Collie light industrial area
- pilot scale micronising and spheroidising plant successfully commissioned in 2022
- micronising qualification-scale equipment installed to support product testing, customer agreements and market acceptance
- Australia’s first high thermal graphite furnace on site – supporting the development of graphite purification processes
- Graphite Micronising Facility:
- definitive feasibility study completed for a 4kt/y micronising plant – one of the first of its kind in Australia
- micronised products will generate cashflow, introduce the IG brand and establish markets for future by-products from battery anode material production
- plant expected to be operational before the end of 2024
- Battery Anode Material (BAM) Facility:
- site for the future BAM plant selected at Collie.
- scoping study released with economic modeling showing strong business case
- proposed facilities capable of processing up to 40kt/y of graphite concentrates to produce uncoated and coated purified/spheroidising/coated graphite suitable for BAM
Key Management Personnel
Phil Hearse - Chairman
One of Australia’s leading metallurgists and an authority on graphite project development, Phil Hearse founded International Graphite in 2018 and continues to lead the company’s growth and development. An engineer with more than 40 years of experience in diverse and challenging projects around the world, his extensive career has taken him from operational and technical roles at Broken Hill, Bougainville Copper, Queensland Nickel (QNI) and Gove Alumina to senior executive and managerial positions in engineering and operating companies.
Hearse is the owner and managing director of Battery Limits, one of Australia’s leading graphite metallurgy and process engineering firms. The company has assisted many listed public companies to develop bankable feasibility studies for graphite mines and concentrators and has generated significant intellectual property in downstream processing and knowledge of the end use market. Hearse has an MBA from Hull University UK and a Bachelor of Applied Science in primary metallurgy from the University of SA. He is a fellow of the Australasian Institute of Mining and Metallurgy and a fellow of the Australasian Institute of Mining and Metallurgy.
Andrew Worland - Managing Director and Chief Executive Officer
Andrew Worland is a mining executive and experienced ASX/TSX director with over 25 years in senior finance, corporate, project management and marketing roles in the Western Australian mining sector.
Worland's commodity experience includes exploration, development and operations in lead, zinc, nickel, cobalt, gold, iron ore, molybdenum, copper and uranium. He has a Bachelor of Commerce with a major in finance and marketing from the University of Western Australia and is a qualified chartered company secretary and fellow of the Governance Institute of Australia.
David Pass - Non-executive Director & Chief Technical Officer
David Pass has played a key role in the technical development of International Graphite since the company’s inception. A metallurgist with 30 years in the mining industry, he brings a mix of operational processing, process design, project, due diligence skills and management experience including mine operations experience with Barrick Gold.
Pass is chief executive officer of Battery Limits and an acknowledged expert in graphite primary and downstream processing and has led several studies in graphite project development to definitive feasibility level. He holds a Bachelor of Science in metallurgy from Murdoch University and is a member of the Australian Institute of Mining and Metallurgy.
Matthew O’Kane - Non-executive Director
Matthew O’Kane is a senior mineral industry executive and company director with 25 years’ experience in the mining, commodities, and automotive sectors. He has held senior leadership roles in Australia, the US and Asia, in both developed and emerging markets, from start-up companies through to MNC’s. He has served on the board of mining companies in Canada, Hong Kong and Australia, and is currently managing director of Comet Resources (ASX:CRL) and a non-executive director of Azarga Uranium (TSX:AZZ) and Pursuit Minerals (ASX:PUR). O’Kane has been a non-executive director of International Graphite since the company was listed in April 2022.
Robert Hodby – Chief Financial Officer and Company Secretary
Robert Hodby is a finance and accounting specialist with more than 20 years’ experience in the Australian resource and energy sector, including seven years as CFO and company secretary of Kibaran Resources(ASX:KNL), the predecessor to Australian graphite company EcoGraf (ASX:EGR). A member of CPA Australia and member of the Governance Institute of Australia, Hodby specialises in the financial management and administration of public and listed companies at both operational and corporate levels. During his career, he has held numerous executive and project management positions as well as CFO, board and company secretarial roles, with a strong track record in corporate finance, capital raising and international product marketing, particularly in the emerging graphite market.Altech – Excellent Definitive Feasibility Study for 120 MWH First Production Line Cerenergy® Battery Project
Altech Batteries Limited (Altech/the Company) (ASX: ATC and FRA: A3Y) is pleased to announce the excellent results from a Definitive Feasibility Study (DFS) conducted for a CERENERGY® project with an annual capacity of 120 1MWh GridPacks each year, planned for construction on Altech’s land in Saxony, Germany. The project is being developed by Altech Batteries GmbH (ABG) (75%) and joint venture partner Fraunhofer IKTS (“Fraunhofer”) (25%), an incorporated society affiliated with the German government and partially financed by the German federal government. Altech Batteries GmbH (ABG) is owned 75% by Altech Batteries Limited (listed on ASX:ATC) and Altech Advanced Materials AG (listed on FSE:AMA).
Highlights
- Highly positive Definitive Feasibility Study (DFS) – 120 GridPacks (1MWh) pa
- Capital cost estimated at €156 million with excellent project economics
- Pre-tax Net Present Value (NPV9) of €169 million
- Attractive Internal Rate of Return (IRR) of 19%
- Steady state payback period is 3.7 years, with Annual Revenue of €106 million per annum
- EBITDA of €51 million or margin of around 47%
- Altech Board Decision to Proceed to Funding Phase
- Low lifetime levelised cost of storage €0.06/kWh vs lithium-ion batteries at €0.149/kWh
- Grid energy storage market projected to grow by 28% CAGR
- Grant funding applications underway
- Equity and mezzanine financing discussions in progress
- Offtake for 5 years production in progress
EXCELLENT PROJECT ECONOMICS
With a conservative investment estimate of €156 million, Altech's DFS not only demonstrates an excellent net present value (NPV) of €169 million (NPV9) but also generates a significant net cash flow of €51 million annually from operations. The estimated internal rate of return is 19%, ensuring a capital steady state payback in just 3.7 years. At full production capacity of 120 1MWh GridPacks, the anticipated annual revenue is €106 million. With an EBITDA of €51 million (margin of 47%), the project economics is compelling, even at this relatively small first production line capacity. With the anticipated growth of the grid storage market at 28% CAGR, Altech’s Board and joint venture partners have enthusiastically given the green light to proceed to the funding phase (Final Investment Decision) for this exciting project.
Watch video of Cerenergy Battery DFS Announcement https://youtu.be/LLb6DxlHTws
Watch Video Cerenergy DFS Ann
PROJECT OWNERSHIP STRUCTURE
In September 2022, comprehensive joint venture agreements were executed, marking the commencement of design works. Notably, a fully joint and several joint venture (JV) was established, consolidating all rights and know-how between the Fraunhofer-Gesellschaft, represented by the Institute for Ceramic Technologies and Systems (IKTS), and Altech Energy Holdings GmbH (AEH). This collaborative effort led to the creation of Altech Batteries GmbH (ABG) with 75% ownership by AEH and 25% by Fraunhofer Gesellschaft. AEH, in turn, is 75% owned by Altech Batteries Limited (ASX:ATC) in Perth, Australia, and 25% by Altech Advanced Materials AG (AMA) in Heidelberg, Germany - both publicly listed companies contributing to project funding.
FRAUNHOFER IKTS BACKGROUND
Fraunhofer, based in Germany, is the world’s leading applied research organisation. Prioritising key future- relevant technologies and commercialising its technology in business and industry, it plays a major role in the innovation process. Founded in 1949, Fraunhofer currently operates 76 institutes and research units with over 30,000 employees throughout Germany. Fraunhofer Institute for Ceramic Technologies and Systems (IKTS) is one of the 76 institutes that conducts applied research on high-performance ceramics. The Institute‘s three sites in Dresden and Hermsdorf (Thuringia), Germany, collectively represent Europe‘s largest R&D institute dedicated to the study of ceramics. The annual budget of IKTS is €83 million and it has 800 employees. As a research and technology service provider, Fraunhofer IKTS develops advanced high-performance ceramic materials, industrial manufacturing processes as well as prototype components and systems in complete production lines up to the pilot-plant scale. The electrolyte within the CERENERGY® battery is a ceramic product manufactured from alumina.
Click here for the full ASX Release
This article includes content from Altech Batteries, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Metallurgical Programs Set to Commence to Advance Development Pathway at Lac Rainy
Test-work to run in parallel with other key development workstreams to unlock the world-class potential of the high-grade flake graphite project
Metals Australia Ltd (ASX:MLS) has a proven track record of battery minerals discovery and has a high-quality portfolio of advanced battery minerals and metals projects in the highly ranked and well-established mining jurisdictions of Quebec, Canada and Western Australia.
- Major new metallurgical test-work programs are set to commence at the high-grade Lac Rainy flake graphite project in the tier-one Canadian mining jurisdiction of Quebec. The test-work will utilise bulk samples of existing drill-core from the following Mineral Resource1 zones (see Figure 1):
- Southeast Carheil: A 220kg bulk sample grading 13% graphitic carbon (Cg). Sample of predominantly fine to medium flake will be split into several variability samples representing the first 10 years of the mining schedule detailed in the previously completed Scoping Study 2.
- Northwest Carheil: A 200kg bulk sample grading 8%Cg. Examination of drill core from Northwest Carheil indicates a high proportion of large (>180 micron) flake. The metallurgical test-work program for this portion of the Mineral Resource will assess the recovery characteristics of higher value, large flake graphite concentrate.
- Metallurgical test-work will be carried out in two stages:
1. Generation of flake graphite concentrate (>95%Cg) using modified flow-sheet conditions designed to optimise recovery of fine to medium flake for downstream spherical graphite production as well as generation of large flake concentrate that can attract premium pricing.
2. Generation of premium battery grade coated spherical graphite (SpG), trialling chemical and thermal purification options to assess the preferred techno-economic method for production of premium battery grade SpG, followed by lithium-ion battery anode charging and durability testing. This work will expand on the outstanding purification (to 99.96%Cg) and battery test results achieved in 20233 and will result in the optimum SpG production method being adopted for more advanced development studies.
- The Metallurgical test-work results will feed directly into the flake-graphite concentrate Pre-Feasibility Study (PFS) as well as the Options Assessment and Scoping Study into downstream spherical graphite- battery anode material production. Additionally, the results will guide the preferred location for that production facility.
- Latest workstreams will be advanced as the Company finalises discussions with First Nations groups in Quebec to secure the necessary approvals to launch a major new drilling program aimed at significantly expanding and upgrading the existing Lac Rainy Mineral Resource. The program will also test new regional targets where high-grade rock chips of up to 64.3% Cg4 have been generated (see Figure 1). The company is aware of changes to the permitting application process in Quebec that come into effect on May 6th this year. More formal stakeholder engagement is a requirement as part of the revised process.
Figure 1: Lac Rainy Graphite Project high-grade sample locations, drilling areas planned with inset of Carheil zone
Metals Australia CEO Paul Ferguson, commented:
“These new metallurgical test-work programs at Lac Rainy represent another important step forward along the very clear pathway we have mapped out to develop what we believe has the potential to be a world-class flake-graphite project in the tier-one Canadian mining jurisdiction of Quebec.”
“The US$50 million equity investment and a future construction commitment of US$275 million5 announced only last month by General Motors and Panasonic Energy to advance the development of Nouveau Monde Graphite Inc’s graphite project in Quebec is another sign of the global rush to secure sources of high-grade flake graphite and downstream products outside China.”
“Building on our Scoping Study which indicates potential for an initial 14-year production mine life, we are committed to accelerating our pre-feasibility studies (PFS) for the production and downstream processing of Lac Rainy’s high-grade flake-graphite product.”
“Other critical work programs being advanced in parallel with our metallurgical test-work include environment and social impact studies, hydrogeological and geotechnical assessments, Mineral Resource estimation work and finalising key inputs to mine planning and engineering design for the concentrate plant PFS and the proposed downstream upgrading facility to produce battery anode material.”
“We have also finalised our drilling plans and contract and look forward to our drilling permit applications being approved by the government authorities in Quebec. The Company has been advised that no adverse comments were provided by stakeholders during the initial public review period for that drilling program and we look forward to our upcoming discussions with representatives of the Innu Council of Uashat Mak Mani- Utenam First Nations group to outline our planned program as part of the approval process.”
“The Company is fully committed to working respectfully and productively with all stakeholders to demonstrate the significance and potential benefits of developing this important critical minerals project, while understanding and accommodating the expectations of stakeholders throughout the development phases.”
“Our drilling program aims to extend and further define the Mineral Resource to allow expansion of the mining plan, as well as testing new regional targets where high-grade rock chips of up to 64.3% Cg4 have been generated. The fact we still have 35km of mineralised zones at Lac Rainy to drill test adds to our confidence that we will be able to significantly grow the existing Mineral Resource.”
“Critically, the recent $3.5 million placement we made through Canadian investors leaves the Company well- funded to accelerate our exploration and development studies with cash reserves of more than $18 million. The fact that Metals Australia’s market capitalisation is less than our cash balance makes us more determined than ever to demonstrate the value of our flagship Lac Rainy project, which we believe will result in a significant re-rating of the Company’s share price.”Click here for the full ASX Release
This article includes content from Metals Australia, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Exceptional Battery Test Results Show Springdale Concentrate is Ideal for Premium Li-Ion Battery Anode
International Graphite Limited (International Graphite) (ASX: IG6) is pleased to report exceptional results from purification and electrochemical testwork on graphite concentrates generated from the Company’s 100% owned Springdale Graphite Project, in Western Australia (Springdale).
Highlights
- Purification testwork on micronised and spheroidised Springdale concentrates exceeds the purity requirements of major lithium-ion (Li-Ion) batteries.
- The optimised processing conditions using a chemical non-hydrofluoric acid (HF) method achieved results ranging from 99.96% LOI to 99.97% LOI.
- Electrochemical tests were conducted on an uncoated purified sample of Springdale graphite concentrate which showed exceptional battery charging and discharging capacity.
The graphite concentrate tested came from reserve samples produced from previous beneficiation testwork using drill core samples from Springdale1. Purification testwork involved the application of a modified caustic soda roast process at lower temperature than previously applied and with a simplified number of stages.
Optimised tests achieved results ranging from 99.96% Loss On Ignition (LOI) to 99.97% LOI, thereby exceeding the industry standard purity grade of 99.95% and also meeting all the element-specific requirements of major Li-Ion battery and electric vehicle manufacturers (refer to Table 1). There is considerable scope to further optimise these results.
Electrochemical testwork on the uncoated purified sample of Springdale graphite concentrate achieved near theoretical-specific capacity for a graphite anode in Li-ion batteries of 372 mAh/g.
Battery stress testing over 46 charging / discharging cycles showed Springdale graphite concentrate has very high stability and durability, with the 46th cycle giving a reversible capacity of 368 mAh/g. Stress testing over longer cycles will be conducted in the next stage of battery testwork.
International Graphite Technical Director David Pass said, “The purification results demonstrate the potential for an optimised and simplified purification process to be used as an alternative to the traditional industry standard HF method.
“The electrochemical results are highly encouraging as a first phase sighter test program. These results will inform the optimisation of micronisation, spheroidisation and purification testwork and flowsheet development for our planned battery anode facilities.
To do that, we will be using ~115kg of Springdale graphite concentrate that was produced by the bulk concentrate testwork program undertaken in the second half of 2023.”
Table 1 - 26 Element ICP analysis of purified Springdale graphite concentrate sample
This announcement has been authorised for release by the Board of Directors of International Graphite Limited.
Click here for the full ASX Release
This article includes content from International Graphite, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
International Graphite Funding Deal with Comet Resources a Win-Win, Report Says
“Management says the strategic funding transaction will prevent the potential sell down of any of the 40 million International Graphite shares owned by Comet – which delisted from the ASX in January – when they are released from escrow next month,” the report said.
The funding deal included giving International Graphite a majority seat on the Comet board, as IG6 management has called the deal a win-win for shareholders.
Click here to connect with International Graphite (ASX:IG6) for an Investor Presentation.
International Graphite and Comet Agree Funding and Director Appointments
International Graphite Limited (International Graphite) (ASX: IG6) is pleased to announce that it and its major shareholder Comet Resources Limited (Comet) have negotiated a transaction that resolves speculation around the short to medium term security of International Graphite shares owned by Comet.
The arrangements will prevent the short to medium term potential sell down of any of the 40 million International Graphite shares owned by Comet when the stock is released from ASX escrow on 7 April 2024.
International Graphite has agreed to loan Comet $1.5 million and Comet has granted International Graphite the right to appoint a majority of directors to the Comet board.
International Graphite Chairman Phil Hearse said the Directors of both companies were unanimous in their belief that the new arrangements are a win-win for all shareholders.
“International Graphite shares are a major asset for Comet,”Mr Hearse said. “The imminent expiration of the escrow period, in conjunction with Comet’s recent de-listing from the ASX, has fuelled concern that Comet may be compelled to sell down its investment in International Graphite to recapitalise its business.
“Stabilising Comet’s financial position and appointing a majority to the Comet board removes the ‘overhang’ that we believe has contributed to the recent decline in the International Graphite share price and provides the catalyst for a rebound.
“Globally, the macro foundations for our industry are still very strong.
“The transition towards renewable energy sources and energy storage continues to gain momentum. EV sales in the United States hit a record last year, topping 1 million for the first time. According to Cox Automotive, one of the world’s largest automotive services organisations, EV sales for the last quarter of 2023 were up 40% from the same quarter a year before. This aligns with the impressive long-range forecasts from the International Energy Association.
“In addition, China recently made significant policy changes restricting the export of graphite products which has resulted in a 75% decrease in its graphite exports in December 2023. As a result, countries outside of China are actively pushing to secure new sources of graphite.
“International Graphite is extremely well-placed to capitalise on this trend because we are operating in Western Australia, one of the most secure jurisdictions in the world, and in a country firmly allied with the expanding markets of North America, Europe, Korea and Japan.
“We have the strong support of our communities and State and Federal Governments and are on track to build a commercial graphite micronising plant in Collie in 2025. Micronised graphite is the first step in the production of high value battery materials and its markets are extensive and well established worldwide.
“This year, we also plan to undertake more drilling at Springdale, complete the Springdale Definitive Feasibility Study, and continue developing our battery anode plant feasibility studies. Final investment decisions to start construction at Springdale are targeted for the first half of 2025, subject to funding.”
The Comet Loan has a two year maturity and accrues interest at 10% per annum. It includes customary terms for a facility of this kind including change of control protections for International Graphite.
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This article includes content from International Graphite, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
International Graphite Receives R&D Refund and Firms Up Cash Position
International Graphite Limited (ASX:IG6) is pleased to announce that it has received $1.3 million from the Australian Research and Development Tax Incentive Scheme for the 2023 financial year.
The R&D Refund is a valuable program that supports innovation in Australia and is a refund for research and development expenditure by the Company during FY2023. Receipt of the R&D refund provides International Graphite with additional working capital to support the execution of our strategy to develop an Australian battery anode material.
This announcement has been authorised for release by the Andrew Worland Managing Director & CEO
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This article includes content from International Graphite, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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