Armadale is pleased to announce the commencement of a feasibility study (the ‘Feasibility Study’) on the Mahenge Liandu graphite project in Tanzania.
Armadale (AIM:ACP) is pleased to announce the commencement of a feasibility study (the ‘Feasibility Study’) on the Mahenge Liandu graphite project in Tanzania ahead of an anticipated decision to mine in early 2019. The feasibility study will be undertaken by BatteryLimits, which recently completed the scoping study at Mahenge Liandu.
As quoted in the press release:
Nick Johansen, director of Armadale said: “We are moving up through the gears of development at Mahenge Liandu, accelerated by the highly positive Scoping Study results delivered in March 2018 which highlighted the Project’s significant potential value, most notably through the delivery of an NPV of US$US349m and IRR of 122%. The commencement of a Feasibility Study, launched in conjunction with the relevant permitting activities, ensures that the Armadale team should be in a position to make a decision to mine in early 2019, looking to translate this significant potential value into real returns for shareholders.
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