Successful Springdale Graphite Optimisation Test Results

Comet Resources Ltd (Comet or the Company) (ASX:CRL) is pleased to provide the successful results of the final phase of specialist test work on natural flake graphite from its Springdale Graphite Project (Springdale) located in Western Australia. The results of optimisation work aimed at improving the yield in the production of spherical graphite (SPG) were highly successful. By classifying the material in an air classifier into fine and coarse fractions to separate the fines fraction prior to the production of the SPG, yield was improved from 30-40% in prior testing, to 60%, which is considered a good yield. Further, as less material was input into the process of spheronisation after the classifying stage was completed, the throughput increased and energy consumption was reduced.

In addition to the positive results from optimisation on yield, testing for tap density on the 15 micron SPG produced revealed that tap density had also increased. Prior testing results for tap density of the 15 micron SPG were 0.90kg/l, however on the material that was produced after use of the air classifier, tap density increased to 0.93kg/l, which is in line with generally accepted commercial specification for production of SPG to be used in the manufacture of battery anode material for use in lithium-ion batteries.

Further test work will be paused pending the completion of the proposed transaction with International Graphite (see CRL announcement of 27 October 2021), which is subject to shareholder approval at the Company’s Annual General Meeting scheduled to be held on Friday 17 December 2021 at 9:00 am (WST).

Highlights:

• Further optimisation testing on yield improvements in the production of spherical graphite have been successful with yield increasing from 40% to 60%
• Tap density of the 15 micron SPG produced also increased from 0.90kg/l to industry standard 0.93kg/l
• Successful results highlight the amenability of Springdale product for use in commercial lithium-ion battery anode materials

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