Metals Australia Ltd

Major Contracts Awarded to Advance Lac Rainy High-Grade Flake Graphite Project

Metals Australia Ltd (ASX: MLS) is pleased to announce a series of major project study agreements have been awarded to advance development of the Company’s flagship Lac Rainy high-grade flake- graphite project in the Tier 1 mining jurisdiction of Quebec, Canada (see Figure 1). The various study agreements approved and initiated include:


  • A Metallurgical & Laboratory Services Agreement with SGS Laboratories in Lakefield, Ontario and the appointment of specialist client advisor Metpro Management to oversee metallurgical test-work programs for the design of a flake-graphite concentrate plant.
  • A Pre-Feasibility Study (PFS) for the design of a 100,000 tonnes per annum flake-graphite concentrate plant awarded to integrated engineering, design, and construction group Lycopodium. The PFS includes the flake-graphite concentrate plant and associated site infrastructure. It builds on the 2021 Scoping Study results1 that demonstrated Lac Rainy’s potential to generate high operating margins over a 14-year mine life - based on the current resource alone.
  • A downstream battery-grade spherical graphite (SpG) concentrate purification options assessment, plant location and Scoping Study awarded to world-leading, German based, metallurgical test-work and process engineering design group ANZAPLAN. These programs will substantially build on the outstanding results of previous downstream product test-work that produced battery grade (99.96% Cg) spherical graphite (SpG) with excellent battery charging and discharge performance2.
  • A drilling and full-service support contract signed with Magnor Exploration to complete the drilling and other exploration programs for Mineral Resource expansion and to test new regional targets at Lac Rainy, where the current resource is contained within only 1km of a demonstrated 36km strike-length of high-grade graphitic trends3 which have been tested to date.

Metals Australia CEO Paul Ferguson commented:

“We are delighted to have locked in a series of critical project development and test-work contracts with leading global service providers as we continue our efforts to grow the Lac Rainy resource and accelerate the development of what we believe is a world-class flake-graphite project, located in one of the world’s best mining jurisdictions.

Significantly, Metals Australia’s strong cash balance, which stood at $17.8 million at the end of the March quarter4, gives us the financial strength to rapidly advance our pipeline of development studies at Lac Rainy, while also continuing exploration programs across our suite of other highly prospective projects in Canada and Australia.

We believe these studies will help unlock the significant value of the Lac Rainy project, which is not reflected in the current share price. This is despite the fact Lac Rainy has already demonstrated compelling and robust economics, as outlined in the 2021 Scoping Study1.

The work we are now advancing will significantly de-risk the project and bring it closer to development - at an ideal time when North America is seeking reliable supplies of critical minerals to establish or reorient its manufacturing base and supply logistics.”

Figure 1: Lac Rainy Graphite Project, key high-grade graphite electro-magnetic (EM) trends and targets with planned drilling locations4

Metallurgical & Laboratory Services Agreement for metallurgical test-work with SGS Laboratories

Metals Australia has awarded the metallurgical test-work and laboratory services requirements for its PFS level flake-graphite metallurgical test-work program5 to SGS Laboratories in Lakefield, Ontario, Canada.

Two approximately 200kg bulk-samples have been prepared from existing drill-core and despatched to SGS for comminution and flotation test-work and characterisation to provide key inputs to the flake-graphite concentrate production PFS. The program is estimated to take approximately four months and will include all sample preparation, chemical characterisation, mineralogy testing, comminution and flotation testing and reporting.


Click here for the full ASX Release

This article includes content from Metals Australia Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

MLS:AU
Metals Australia

Metals Australia Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Metals Australia

Metals Australia


Keep reading...Show less

High-quality graphite project with accelerated development pathway and outstanding portfolio of exploration properties, highly prospective for lithium, gold and copper-gold discoveries.

Electric vehicle charging with blue background.

Market Pain, Strategic Gain: Pilbara Minerals' Dale Henderson on Today's Lithium Paradox

“(Lithium) is not for the faint-hearted. It demands resilience, foresight and leadership,” said Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) Managing Director and CEO Dale Henderson.

He was speaking at Fastmarkets’ Lithium Supply & Battery Raw Materials Conference, held this week in Las Vegas.

Henderson touched on three main points: current lithium market dynamics, how Pilbara Minerals is navigating the lithium landscape and his recommendations for the global lithium industry.

Keep reading...Show less
Glowing battery with green zigzag on a futuristic circuit board background.

Fastmarkets’ 2025 Lithium Conference to Tackle EV Growth, Battery Supply Chains and Market Outlook

Fastmarkets is set to host its 17th Lithium Supply and Battery Raw Materials Conference.

Scheduled to run from June 23 to 26 in Las Vegas, Nevada, the event will bring together global industry leaders to explore key topics shaping the future of the battery supply chain.

Discussions will cover lithium extraction technologies, including direct lithium extraction, as well as advances in processing, refining and recycling. More broadly, market outlooks, pricing trends and investment strategies will be analyzed alongside evolving ESG standards, policy impacts and risk management approaches.

Keep reading...Show less
Gina Rinehart, executive chair of Hancock Prospecting, stands in front of cherry blossom trees.

Inside Billionaire Gina Rinehart's Key Mining Investments

Australian billionaire Gina Rinehart has become a formidable force in the global mining industry.

After taking the helm of her father’s iron ore firm Hancock Prospecting in 1993, she embarked upon a diversification strategy that has vastly expanded her resource empire. Now Australia’s richest person, Rinehart has investments in many of the world’s most strategic commodities such as lithium, rare earths, copper, potash and natural gas.

One of those investments is Arafura Rare Earths (ASX:ARU,OTC Pink:ARAFF), which even in a low price environment for rare earths managed to secure nearly AU$1.5 billion in debt financing in mid-2024 to advance its Nolans project in the Northern Territory. With a 10 percent equity stake, Rinehart’s Hancock Prospecting is Arafura's largest shareholder.

Keep reading...Show less
Lithium Africa CEO Tyron Breytenbach.

Lithium Africa CEO Makes Case for Lithium Investing Amid Bear Market

The CEO of Lithium Africa is making a case for investing in lithium during the current bear market, saying recent moves by major players such as Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) indicate confidence in the market's longer-term potential.

“(Rio Tinto) is the second biggest miner of commodities on the planet. And late last year, they did the Arcadium Lithium transaction, which is the second largest transaction in corporate history, and they've picked lithium," Tyron Breytenbach said during an interview with the Investing News Network.

"Shortly after that, they followed on with a big, multibillion-dollar investment in Chile. Again, the commodity they picked was lithium."

Keep reading...Show less
Truck with drill rig at sunset in a dry, grassy landscape.

Rock Bottom: Strategic Window for Ground-level Lithium Investment in 2025

When lithium prices hit bottom, savvy investors know that’s exactly where the next big discovery begins — literally. Beneath the surface of global markets and remote exploration grounds, new opportunities are forming in the wake of a sharp price reset and renewed geopolitical urgency.

Macroeconomic and policy shifts in 2025 are creating ideal conditions for those willing to look past the headlines. While volatility in lithium prices has tempered short-term sentiment, the underlying demand trajectory remains strong. With governments reshaping supply chains to reduce reliance on China and accelerate the energy transition, lithium is emerging not only as a critical resource, but as a strategic investment theme with long-term upside.

For investors, this reset isn’t a retreat; it’s a rare chance to get in early, at ground level.

Keep reading...Show less
Metals Australia

Metals Australia Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×