Battery Metals

ASX:MNS

Magnis Resources (ASX:MNS) is pleased to present its quarterly report for the period ended 31 December 2016.
Magnis continues to focus on progressing the development of its Nachu Graphite Project (“Nachu”) in southern Tanzania and has made significant progress in the quarter.

Magnis Resources (ASX:MNS) – Highlights of Quarterly Report
Spherical graphite and lithium-ion battery strategy
 Significant lithium-ion Battery Developments
 Land valuation complete Subsequent Events
 Project Financing and Offtake MOU signed with ROSATOM in January 2017 Corporate
 Cash position for the Company at 31 December 2016 A$2.4M – excludes funding from option conversions which provides Magnis with the financial flexibility to fund operations in the current quarter
 Expected amounts of A$9M over the next four months as listed options expire
 Key Board appointments
Magnis Resources (ASX:MNS) is pleased to present its quarterly report for the period ended 31 December 2016.
Magnis continues to focus on progressing the development of its Nachu Graphite Project (“Nachu”) in southern Tanzania and has made significant progress in the quarter.
Nachu project background
The high quality and purity of Nachu graphite underpins Magnis’ strategy to become a globally significant producer of high value graphite products with a particular focus on supplying the lithium-ion battery market.
ASX/MEDIA RELEASE
For the Nachu project, Magnis has finalised all regulatory and environmental permits, completed a Bankable Feasibility Study (BFS), a power supply agreement and a clearly defined concentrate export route. As one of the world’s most advanced and shovel-ready graphite projects globally, the Nachu project is on target to meet the forecast increase in graphite demand for lithium-ion battery uses as numerous “mega-factories” are commissioned from 2018 onwards.
Significant lithium-ion battery developments
During the quarter, Magnis updated the market on its lithium-ion battery results and continued progress at Nachu.
The Magnis lithium-ion battery development team made significant progress in recent months with Thermo Gravimetric Analysis of graphite flakes produced using only physical steps (milling and flotation processes) with purity >99.95% TGC. This demonstrates potential to use bulk physical processes to produce anode materials that meet the current <0.05% ash content specification.
Full cell fabrication in a number of form factors with anode materials containing Nachu graphite was undertaken by an external testing facility. This final part in the commercial development program not only generates performance data around cycling and safety but also provides samples to potential end users for their own evaluation.
After initial cycling at the external testing facility, the full cells were delivered to the Magnis testing facility in New York where they are undergoing extended cycling. Full cells have also been delivered to end users including major players in the automotive industry. Initial test results have been excellent in terms of first cycle efficiency and charge/discharge capacity.
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