Comet Resources

Comet Resources Quarterly Activities Report – December 2021

Comet Resources Limited (Comet or the Company) (ASX:CRL), is pleased provide the Quarterly Activities Report and Appendix 5B for the quarter ending 31 December 2021 (the Quarter).


Highlights:

  • Comet to gain participation in high-technology, vertically integrated battery anode and industrial graphite product company, International Graphite (IG) via the vend-in of its Springdale Graphite Project for $8M of shares in IG at its IPO
  • International Graphite has commenced work on Stage 1 of its advanced downstream graphite product manufacturing and R&D facility in Collie, WA
  • International Graphite’s technology has been recognised by and received strong support from the WA Government, with a recent award of a $2M grant to contribute to the development of the Collie facility
  • Successfully completed optimisation test work on the production of spherical graphite at test facilities in Germany
  • Assays from the drilling program completed at Santa Teresa Gold Project delivered multiple high-grade intersections, including ‘bonanza’ grades
  • Significant intersections include:
    • STDDH-21-006:
      • 1.2m at 63.2g/t gold from 124.8m; and
      • 0.7m at 27.5g/t gold from 140.9m
    • STDDH-21-007: 1.6m at 31.0g/t gold from 239.8m
    • STDDH-21-001: 1.0m at 26.9g/t gold from 91.9m
  • Comet has commenced disclosing Environmental, Social, and Governance (ESG) metrics. Disclosures are made using World Economic Forum ESG universal framework

Post Quarter End:

  • The Company has entered a trading halt pending an announcement of a material transaction

During the Quarter, the Company announced that it would participate in the creation of a vertically integrated high-technology battery anode and industrial graphite product business located in Western Australia via a transaction with International Graphite Limited (International Graphite or IG). Under the proposed transaction Comet will vend its Springdale Graphite Project into International Graphite in return for shares initially valued at $8M upon completion of an initial public offering and subsequent listing on the ASX by International Graphite. The transaction will see Comet now participate in both the value created by the graphite resource itself, as well as the substantial value created by downstream processing into end user products.

Click here for the full ASX Release

This article includes content from Comet Resources, 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.

CRL:AU
The Conversation (0)
Comet Resources

Comet Resources

Battery Commodities for the Low-Carbon Revolution

Working to develop resource projects including gold, copper and graphite.

Gold bars and rising graph; "5 Top Canadian Mining Stocks This Week" text overlay.

Top 5 Canadian Mining Stocks This Week: Prospector Metals Gains 356 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.The big event impacting markets this week was the shutdown of the US government. Although... Keep Reading...
Gold nugget, stock chart,and US flag with "Weekly Editor's Picks" text.

Editor's Picks: Gold Price Sets Sights on US$3,900, Silver Breaks US$48

The gold price continued to move this week, approaching the US$3,900 per ounce level and setting a fresh all-time high on the back of a US government shutdown.The closure came after Congress failed to reach an agreement on a spending bill ahead of the new American fiscal year, which began on... Keep Reading...
Gold "M&A" letters on textured wood background with lighting effects.

Minera Alamos Closes Nevada Mine Acquisition, Expands US Gold Footprint

Minera Alamos (TSXV:MAI,OTCQX:MAIFF) has completed its purchase of the Pan gold mine and two development-stage projects in Nevada from Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX).The Toronto-based company said Wednesday (October 1) that it closed the previously announced transaction to acquire the... Keep Reading...
Option Exercise Nets $2.3M to Expand Exploration at Pinjin

Option Exercise Nets $2.3M to Expand Exploration at Pinjin

Kalgoorlie Gold Mining (KAL:AU) has announced Option exercise nets $2.3M to expand exploration at PinjinDownload the PDF here. Keep Reading...
Adam Rozencwajg, gold bars.

Adam Rozencwajg: Gold's Record Run Not Over Yet, Silver Still Looks Cheap

Adam Rozencwajg, managing partner at Goehring & Rozencwajg, discusses the factors driving gold's current price run and why he thinks it will continue. "I think that this rally is sustained. I think that it's going on until I see otherwise," he said. Don't forget to follow us @INN_Resource for... Keep Reading...
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Nelson Resources Soars on Deal to Advance Yarri Project

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks listed on the ASX, starting with news in Australia's resource sector.Gold companies dominate this week's list of top gainers as the metal continues to soar. In mining company news, BHP... Keep Reading...

Latest Press Releases

Related News