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IMX Resources Ltd. (ASX:IXR) announced that test results continue to confirm the “outstanding expandability” of the high-quality graphite produced at its Tanzania-based Chilalo graphite project.
IMX Resources Ltd. (ASX:IXR) announced that test results continue to confirm the “outstanding expandability” of the high-quality graphite produced at its Tanzania-based Chilalo graphite project.
Specifically, the results confirm the company’s belief that graphite from Chilalo “will be ideally suited to supply a high-value product into the expandable graphite market.”
As quoted in the press release:
As part of the Memorandum of Understanding (MOU) announced on 1 February 2016, major Chinese companies China Gold Group Investment Co. Ltd (‘China Gold) and CN Docking Joint Investment and Development Co. Ltd (‘CN Docking’) have jointly commenced a period of exclusive due diligence over the Chilalo Project in order to assess the potential for a joint development opportunity with IMX.
China Gold’s ongoing due diligence has included recent product testing of a +50 mesh (>300 micron) sample of Chilalo graphite, with results demonstrating an expandability ratio of 1,500x (times). This result is a significant improvement on prior testwork, which yielded expandability ratios of approximately 1,000x, and compares extremely favourably to ASX listed peers and China-sourced graphite which has expandability ratios averaging 250x.
The expansion rate represents the volume growth of the graphite once it is mixed with acid and other reagents and then heated. Higher expandability is more valuable to end users on a value-in-use basis. These results are extremely encouraging given the price of flake graphite concentrate that expands at 250x.
Phil Hoskins, managing director of IMX, commented:
We are delighted that China Gold’s testwork has yielded such strong expandability results. The expandability ratio of 1,500 times is the best result achieved to date, and is at the extreme end of the expandability range of known graphite. This is further confirmation that we possess one of the highest quality undeveloped graphite projects in the world. The results give us great confidence as we continue to work closely with China Gold and CN Docking as they progress their due diligence.
Click here to read the full IMX Resources Ltd. (ASX:IXR) press release.