EcoGraf’s Epanko Graphite Project Supported by Government Deal

- January 28th, 2020

EcoGraf reported that the Tanzanian Government signed a settlement agreement that will unlock financing for the Epanko graphite project.

EcoGraf (ASX:EGR) reported that the Tanzanian Government signed a landmark settlement agreement with Barrick Gold (TSX:ABX,NYSE:GOLD), which the miner believes will provide the breakthrough unlock the financing and development of the company’s 100 percent owned Epanko graphite project.

Highlights are as follows:

  • Barrick Gold and Government of Tanzania sign historic landmark agreement
  • Dispute resolution expected to unlock debt financing hurdles for EcoGraf’s Epanko graphite project
  • Positive progress achieved with KfW IPEX-Bank financing in recent weeks
  • Epanko to be developed under sustainable equator principles, transforming the local economy
  • Epanko forecast to generate annual earnings before interest, tax, depreciation and amortization of US$44.5m, an internal rate of return of 38.9 percent and pre-tax NPV10 of US$211 million

Click here to read the whole EcoGraf (ASX:EGR) press release.

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