Independent Tests Confirm Battery-Grade Spherical Graphite from Energizer's Molo Flake Graphite Concentrate

Energizer Resources Inc. (TSX:EGZ,OTCBB:ENZR) announced that independent tests by a leading Japanese manufacturer and a leading European supplier of spherical graphite for electric vehicles have confirmed that spherical graphite can be manufactured from the Molo flake graphite concentrate. Initial test results indicate that all specifications and quality requirements for battery anode material production were met. Both parties have confirmed that Energizer now moves on to the next stage of product analysis, which will include additional bulk sampling down each of the company’s respective customer supply chains. Further, Energizer is also expecting results on its Molo concentrate from another independent source specializing in producing battery-grade spherical graphite specifically for lithium-ion battery applications.
As quoted in the press release:

Testing was performed independently by both a leading Japanese manufacturer of battery anode material and a leading European supplier of spherical graphite for electric vehicles (EVs), both of which Energizer is a under a non-disclosure and confidentially agreement with. The purpose of these tests being conducted was to ascertain the potential for Energizer’s Molo deposit to be an alternative and sustainable natural source of spherical graphite concentrate for the purpose of supplying battery anode material for the EV market.
Energizer’s President and CEO Craig Scherba, P. Geo. stated, “We are pleased to have highly reputable, third-party validation that our Molo concentrate can be manufactured into high-quality spherical graphite for electrical vehicles. This positions Energizer well for this burgeoning market.”
Testing in both instances consisted of two separate 20 kilogram samples of Molo concentrate, ranging from -200 mesh (small and fine flake) to +32 mesh (extra large and jumbo flake), being purified with standard methods and spherically cut to specifications for lithium-ion batteries used by a major automotive brand. Spheroidization of the Molo concentrate was done using two different rounding steps including testing with shorter and longer rounding times. Surface area, milling behavior, tapping density, ash content, electrochemical performance (first cycle efficiency and third cycle capacities) and impurities on a parts per million scale were compared internally by the testing companies with ICP analysis against their respective commercial reference standard. It was confirmed to Energizer that the Molo concentrate showed very good potential compared to their respective current suppliers.
Next Steps
Based on these results, both parties have confirmed Energizer now qualifies to move to the next stage in product analysis, which will include additional bulk-sample testing stages down each of the company’s respective customer supply chains. Energizer is currently in discussions with each party regarding expected timelines and logistics regarding these additional stages, including discussions on potential off-take agreements.
Energizer is expecting additional results on its Molo concentrate from another well-established and reputable independent source that specializes in producing battery-grade spherical graphite specifically for lithium-ion battery applications and looks forward to providing test results when available.

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