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Northern Graphite to Conduct Testing for Advanced Materials
Altech – Excellent Definitive Feasibility Study for 120 MWH First Production Line Cerenergy® Battery Project
Altech Batteries Limited (Altech/the Company) (ASX: ATC and FRA: A3Y) is pleased to announce the excellent results from a Definitive Feasibility Study (DFS) conducted for a CERENERGY® project with an annual capacity of 120 1MWh GridPacks each year, planned for construction on Altech’s land in Saxony, Germany. The project is being developed by Altech Batteries GmbH (ABG) (75%) and joint venture partner Fraunhofer IKTS (“Fraunhofer”) (25%), an incorporated society affiliated with the German government and partially financed by the German federal government. Altech Batteries GmbH (ABG) is owned 75% by Altech Batteries Limited (listed on ASX:ATC) and Altech Advanced Materials AG (listed on FSE:AMA).
Highlights
- Highly positive Definitive Feasibility Study (DFS) – 120 GridPacks (1MWh) pa
- Capital cost estimated at €156 million with excellent project economics
- Pre-tax Net Present Value (NPV9) of €169 million
- Attractive Internal Rate of Return (IRR) of 19%
- Steady state payback period is 3.7 years, with Annual Revenue of €106 million per annum
- EBITDA of €51 million or margin of around 47%
- Altech Board Decision to Proceed to Funding Phase
- Low lifetime levelised cost of storage €0.06/kWh vs lithium-ion batteries at €0.149/kWh
- Grid energy storage market projected to grow by 28% CAGR
- Grant funding applications underway
- Equity and mezzanine financing discussions in progress
- Offtake for 5 years production in progress
EXCELLENT PROJECT ECONOMICS
With a conservative investment estimate of €156 million, Altech's DFS not only demonstrates an excellent net present value (NPV) of €169 million (NPV9) but also generates a significant net cash flow of €51 million annually from operations. The estimated internal rate of return is 19%, ensuring a capital steady state payback in just 3.7 years. At full production capacity of 120 1MWh GridPacks, the anticipated annual revenue is €106 million. With an EBITDA of €51 million (margin of 47%), the project economics is compelling, even at this relatively small first production line capacity. With the anticipated growth of the grid storage market at 28% CAGR, Altech’s Board and joint venture partners have enthusiastically given the green light to proceed to the funding phase (Final Investment Decision) for this exciting project.
Watch video of Cerenergy Battery DFS Announcement https://youtu.be/LLb6DxlHTws
Watch Video Cerenergy DFS Ann
PROJECT OWNERSHIP STRUCTURE
In September 2022, comprehensive joint venture agreements were executed, marking the commencement of design works. Notably, a fully joint and several joint venture (JV) was established, consolidating all rights and know-how between the Fraunhofer-Gesellschaft, represented by the Institute for Ceramic Technologies and Systems (IKTS), and Altech Energy Holdings GmbH (AEH). This collaborative effort led to the creation of Altech Batteries GmbH (ABG) with 75% ownership by AEH and 25% by Fraunhofer Gesellschaft. AEH, in turn, is 75% owned by Altech Batteries Limited (ASX:ATC) in Perth, Australia, and 25% by Altech Advanced Materials AG (AMA) in Heidelberg, Germany - both publicly listed companies contributing to project funding.
FRAUNHOFER IKTS BACKGROUND
Fraunhofer, based in Germany, is the world’s leading applied research organisation. Prioritising key future- relevant technologies and commercialising its technology in business and industry, it plays a major role in the innovation process. Founded in 1949, Fraunhofer currently operates 76 institutes and research units with over 30,000 employees throughout Germany. Fraunhofer Institute for Ceramic Technologies and Systems (IKTS) is one of the 76 institutes that conducts applied research on high-performance ceramics. The Institute‘s three sites in Dresden and Hermsdorf (Thuringia), Germany, collectively represent Europe‘s largest R&D institute dedicated to the study of ceramics. The annual budget of IKTS is €83 million and it has 800 employees. As a research and technology service provider, Fraunhofer IKTS develops advanced high-performance ceramic materials, industrial manufacturing processes as well as prototype components and systems in complete production lines up to the pilot-plant scale. The electrolyte within the CERENERGY® battery is a ceramic product manufactured from alumina.
Click here for the full ASX Release
This article includes content from Altech Batteries, 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.
Metallurgical Programs Set to Commence to Advance Development Pathway at Lac Rainy
Test-work to run in parallel with other key development workstreams to unlock the world-class potential of the high-grade flake graphite project
Metals Australia Ltd (ASX:MLS) has a proven track record of battery minerals discovery and has a high-quality portfolio of advanced battery minerals and metals projects in the highly ranked and well-established mining jurisdictions of Quebec, Canada and Western Australia.
- Major new metallurgical test-work programs are set to commence at the high-grade Lac Rainy flake graphite project in the tier-one Canadian mining jurisdiction of Quebec. The test-work will utilise bulk samples of existing drill-core from the following Mineral Resource1 zones (see Figure 1):
- Southeast Carheil: A 220kg bulk sample grading 13% graphitic carbon (Cg). Sample of predominantly fine to medium flake will be split into several variability samples representing the first 10 years of the mining schedule detailed in the previously completed Scoping Study 2.
- Northwest Carheil: A 200kg bulk sample grading 8%Cg. Examination of drill core from Northwest Carheil indicates a high proportion of large (>180 micron) flake. The metallurgical test-work program for this portion of the Mineral Resource will assess the recovery characteristics of higher value, large flake graphite concentrate.
- Metallurgical test-work will be carried out in two stages:
1. Generation of flake graphite concentrate (>95%Cg) using modified flow-sheet conditions designed to optimise recovery of fine to medium flake for downstream spherical graphite production as well as generation of large flake concentrate that can attract premium pricing.
2. Generation of premium battery grade coated spherical graphite (SpG), trialling chemical and thermal purification options to assess the preferred techno-economic method for production of premium battery grade SpG, followed by lithium-ion battery anode charging and durability testing. This work will expand on the outstanding purification (to 99.96%Cg) and battery test results achieved in 20233 and will result in the optimum SpG production method being adopted for more advanced development studies.
- The Metallurgical test-work results will feed directly into the flake-graphite concentrate Pre-Feasibility Study (PFS) as well as the Options Assessment and Scoping Study into downstream spherical graphite- battery anode material production. Additionally, the results will guide the preferred location for that production facility.
- Latest workstreams will be advanced as the Company finalises discussions with First Nations groups in Quebec to secure the necessary approvals to launch a major new drilling program aimed at significantly expanding and upgrading the existing Lac Rainy Mineral Resource. The program will also test new regional targets where high-grade rock chips of up to 64.3% Cg4 have been generated (see Figure 1). The company is aware of changes to the permitting application process in Quebec that come into effect on May 6th this year. More formal stakeholder engagement is a requirement as part of the revised process.
Figure 1: Lac Rainy Graphite Project high-grade sample locations, drilling areas planned with inset of Carheil zone
Metals Australia CEO Paul Ferguson, commented:
“These new metallurgical test-work programs at Lac Rainy represent another important step forward along the very clear pathway we have mapped out to develop what we believe has the potential to be a world-class flake-graphite project in the tier-one Canadian mining jurisdiction of Quebec.”
“The US$50 million equity investment and a future construction commitment of US$275 million5 announced only last month by General Motors and Panasonic Energy to advance the development of Nouveau Monde Graphite Inc’s graphite project in Quebec is another sign of the global rush to secure sources of high-grade flake graphite and downstream products outside China.”
“Building on our Scoping Study which indicates potential for an initial 14-year production mine life, we are committed to accelerating our pre-feasibility studies (PFS) for the production and downstream processing of Lac Rainy’s high-grade flake-graphite product.”
“Other critical work programs being advanced in parallel with our metallurgical test-work include environment and social impact studies, hydrogeological and geotechnical assessments, Mineral Resource estimation work and finalising key inputs to mine planning and engineering design for the concentrate plant PFS and the proposed downstream upgrading facility to produce battery anode material.”
“We have also finalised our drilling plans and contract and look forward to our drilling permit applications being approved by the government authorities in Quebec. The Company has been advised that no adverse comments were provided by stakeholders during the initial public review period for that drilling program and we look forward to our upcoming discussions with representatives of the Innu Council of Uashat Mak Mani- Utenam First Nations group to outline our planned program as part of the approval process.”
“The Company is fully committed to working respectfully and productively with all stakeholders to demonstrate the significance and potential benefits of developing this important critical minerals project, while understanding and accommodating the expectations of stakeholders throughout the development phases.”
“Our drilling program aims to extend and further define the Mineral Resource to allow expansion of the mining plan, as well as testing new regional targets where high-grade rock chips of up to 64.3% Cg4 have been generated. The fact we still have 35km of mineralised zones at Lac Rainy to drill test adds to our confidence that we will be able to significantly grow the existing Mineral Resource.”
“Critically, the recent $3.5 million placement we made through Canadian investors leaves the Company well- funded to accelerate our exploration and development studies with cash reserves of more than $18 million. The fact that Metals Australia’s market capitalisation is less than our cash balance makes us more determined than ever to demonstrate the value of our flagship Lac Rainy project, which we believe will result in a significant re-rating of the Company’s share price.”Click here for the full ASX Release
This article includes content from Metals Australia, 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.
Exceptional Battery Test Results Show Springdale Concentrate is Ideal for Premium Li-Ion Battery Anode
International Graphite Limited (International Graphite) (ASX: IG6) is pleased to report exceptional results from purification and electrochemical testwork on graphite concentrates generated from the Company’s 100% owned Springdale Graphite Project, in Western Australia (Springdale).
Highlights
- Purification testwork on micronised and spheroidised Springdale concentrates exceeds the purity requirements of major lithium-ion (Li-Ion) batteries.
- The optimised processing conditions using a chemical non-hydrofluoric acid (HF) method achieved results ranging from 99.96% LOI to 99.97% LOI.
- Electrochemical tests were conducted on an uncoated purified sample of Springdale graphite concentrate which showed exceptional battery charging and discharging capacity.
The graphite concentrate tested came from reserve samples produced from previous beneficiation testwork using drill core samples from Springdale1. Purification testwork involved the application of a modified caustic soda roast process at lower temperature than previously applied and with a simplified number of stages.
Optimised tests achieved results ranging from 99.96% Loss On Ignition (LOI) to 99.97% LOI, thereby exceeding the industry standard purity grade of 99.95% and also meeting all the element-specific requirements of major Li-Ion battery and electric vehicle manufacturers (refer to Table 1). There is considerable scope to further optimise these results.
Electrochemical testwork on the uncoated purified sample of Springdale graphite concentrate achieved near theoretical-specific capacity for a graphite anode in Li-ion batteries of 372 mAh/g.
Battery stress testing over 46 charging / discharging cycles showed Springdale graphite concentrate has very high stability and durability, with the 46th cycle giving a reversible capacity of 368 mAh/g. Stress testing over longer cycles will be conducted in the next stage of battery testwork.
International Graphite Technical Director David Pass said, “The purification results demonstrate the potential for an optimised and simplified purification process to be used as an alternative to the traditional industry standard HF method.
“The electrochemical results are highly encouraging as a first phase sighter test program. These results will inform the optimisation of micronisation, spheroidisation and purification testwork and flowsheet development for our planned battery anode facilities.
To do that, we will be using ~115kg of Springdale graphite concentrate that was produced by the bulk concentrate testwork program undertaken in the second half of 2023.”
Table 1 - 26 Element ICP analysis of purified Springdale graphite concentrate sample
This announcement has been authorised for release by the Board of Directors of International Graphite Limited.
Click here for the full ASX Release
This article includes content from International Graphite, 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.
International Graphite Funding Deal with Comet Resources a Win-Win, Report Says
“Management says the strategic funding transaction will prevent the potential sell down of any of the 40 million International Graphite shares owned by Comet – which delisted from the ASX in January – when they are released from escrow next month,” the report said.
The funding deal included giving International Graphite a majority seat on the Comet board, as IG6 management has called the deal a win-win for shareholders.
Click here to connect with International Graphite (ASX:IG6) for an Investor Presentation.
International Graphite and Comet Agree Funding and Director Appointments
International Graphite Limited (International Graphite) (ASX: IG6) is pleased to announce that it and its major shareholder Comet Resources Limited (Comet) have negotiated a transaction that resolves speculation around the short to medium term security of International Graphite shares owned by Comet.
The arrangements will prevent the short to medium term potential sell down of any of the 40 million International Graphite shares owned by Comet when the stock is released from ASX escrow on 7 April 2024.
International Graphite has agreed to loan Comet $1.5 million and Comet has granted International Graphite the right to appoint a majority of directors to the Comet board.
International Graphite Chairman Phil Hearse said the Directors of both companies were unanimous in their belief that the new arrangements are a win-win for all shareholders.
“International Graphite shares are a major asset for Comet,”Mr Hearse said. “The imminent expiration of the escrow period, in conjunction with Comet’s recent de-listing from the ASX, has fuelled concern that Comet may be compelled to sell down its investment in International Graphite to recapitalise its business.
“Stabilising Comet’s financial position and appointing a majority to the Comet board removes the ‘overhang’ that we believe has contributed to the recent decline in the International Graphite share price and provides the catalyst for a rebound.
“Globally, the macro foundations for our industry are still very strong.
“The transition towards renewable energy sources and energy storage continues to gain momentum. EV sales in the United States hit a record last year, topping 1 million for the first time. According to Cox Automotive, one of the world’s largest automotive services organisations, EV sales for the last quarter of 2023 were up 40% from the same quarter a year before. This aligns with the impressive long-range forecasts from the International Energy Association.
“In addition, China recently made significant policy changes restricting the export of graphite products which has resulted in a 75% decrease in its graphite exports in December 2023. As a result, countries outside of China are actively pushing to secure new sources of graphite.
“International Graphite is extremely well-placed to capitalise on this trend because we are operating in Western Australia, one of the most secure jurisdictions in the world, and in a country firmly allied with the expanding markets of North America, Europe, Korea and Japan.
“We have the strong support of our communities and State and Federal Governments and are on track to build a commercial graphite micronising plant in Collie in 2025. Micronised graphite is the first step in the production of high value battery materials and its markets are extensive and well established worldwide.
“This year, we also plan to undertake more drilling at Springdale, complete the Springdale Definitive Feasibility Study, and continue developing our battery anode plant feasibility studies. Final investment decisions to start construction at Springdale are targeted for the first half of 2025, subject to funding.”
The Comet Loan has a two year maturity and accrues interest at 10% per annum. It includes customary terms for a facility of this kind including change of control protections for International Graphite.
Click here for the full ASX Release
This article includes content from International Graphite, 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.
International Graphite Receives R&D Refund and Firms Up Cash Position
International Graphite Limited (ASX:IG6) is pleased to announce that it has received $1.3 million from the Australian Research and Development Tax Incentive Scheme for the 2023 financial year.
The R&D Refund is a valuable program that supports innovation in Australia and is a refund for research and development expenditure by the Company during FY2023. Receipt of the R&D refund provides International Graphite with additional working capital to support the execution of our strategy to develop an Australian battery anode material.
This announcement has been authorised for release by the Andrew Worland Managing Director & CEO
Click here for the full ASX Release
This article includes content from International Graphite, 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.
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