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Triton Minerals Limited( ASX: TON) (“Triton” or “the Company”) is pleased to announce that it has executed a binding memorandum of understanding to divest 70% of its interests in the entities that hold the Ancuabe Graphite Project, including 70% of its interest in the intellectual property and drill core assets relating to the Nicanda Hill and Nicanda West Projects and 70% of its interest in the Cobra Plains mining concession (together with the Ancuabe Graphite Project, the “Mozambique Graphite Assets”) to Shandong Yulong Gold Co., Ltd. (“Shandong Yulong”)’s designated subsidiary for cash consideration of A$17 million, subject to certain terms and conditions outlined below (“Transaction”).
HIGHLIGHTS:
- Triton expected to receive material, near term cash – A$17 million cash payment payable to Triton in staged payments.
- Fastest development pathway – the non-associated Directors of Triton deem the Transaction to be the fastest and most logical route to production for the flagship Ancuabe Graphite Project, given Shandong Yulong’s status as a Shanghai Stock Exchange listed entity with a market capitalisation of approximately RMB10 billion.
- Retains optionality to the graphite market – Triton will initially retain a 30% joint venture interest in the Mozambique Graphite Assets, which provides Triton with continued exposure to the graphite market.
- Well-funded for value accretive transactions –Triton is expected to be well funded to assess value accretive acquisitions to generate Triton shareholder value.
Memorandum of Understanding to divest 70% of Triton’s Mozambique Graphite Assets
Triton and Shandong Yulong have entered into a binding Memorandum of Understanding (“MOU”) whereby Triton has agreed to divest 70% of the entities that hold the Mozambique Graphite Assets to Shandong Yulong.
Total proceeds of up to A$17 million pursuant to the Transaction expected to be received by Triton in the following staged payments:
- A$2.55 million - deposit payable within 15 days after execution of the MOU;
- A$5.95 million - upon satisfaction of the conditions precedent (set out in Annexure 1 to this announcement); and
- A$8.5 million - by 28 February 2025.
The specific payment mechanics for the second two tranches will be subject to the formal documentation to be entered into to give effect to the MOU.
Triton expects to use the sale proceeds from the Transaction:
- to fund its contribution towards the proposed joint venture over the Mozambique Graphite Assets as an initial 30% joint venture holder, with the specific arrangements in relation to funding to be negotiated in the joint venture agreement and budget; and
- for working capital purposes, including the assessment of new value accretive acquisitions in the battery minerals and resource sector in Mozambique and Australia.
Triton’s Executive Director, Mr Andrew Frazer said:
“The compelling offer submitted by Shandong Yulong represents a significant opportunity for Triton to realise value via expected cash payments totalling A$17 million in the near term. These funds will provide Triton with the opportunity to diversify its portfolio via the assessment of value accretive acquisition opportunities.
Triton will initially retain a 30% ownership in the Mozambique Graphite Assets which provides Triton with exposure to upside in the graphite market.
Ultimately, we think this Transaction is the best way to generate value for shareholders in a timely manner, given Shandong Yulong’s size, balance sheet and desire to develop and operate the Mozambique Graphite Assets. We look forward to working with Shandong Yulong in executing the Transaction and going forward as a joint venture partner.”
It is a condition precedent to the Transaction that Triton and Shandong Yulong enter into a joint venture agreement to develop and operate the Mozambique Graphite Assets following completion of the Transaction, with initial equity ownership of 70% (Shandong Yulong) and 30% (Triton).
Shandong Yulong, together with its associates, is a substantial shareholder of Triton, with an aggregate holding of 564,378,502 fully paid ordinary shares (“Shares”) (representing a disclosed voting power of 35.98% in Triton). Shandong Yulong has two director nominees on the Board of Directors of Triton, being Mr Peng Zhang (Executive Chairman) and Mr Xingmin (Max) Ji (Non-Executive Director). Therefore, Triton established a working group consisting of Mr Andrew Frazer (Executive Director) and Mr Adrian Costello (Executive Director), being the two directors of Triton who are not nominees of Shandong Yulong, to assess the merits of the Transaction. Taking intoaccount range of factors including funding requirements and corporate structure, Mr Frazer and Mr Costello believe it is in the Company’s best interests to enter into the Transaction. Triton will engage an independent expert to provide an opinion on whether or not the Transaction is fair and reasonable to unassociated shareholders and seek approval from unassociated shareholders pursuant to ASX Listing Rule 10.1. Triton will also seek shareholder approval for the purposes of ASX Listing Rule 11.2. Full details will be provided in documentation to be released to shareholders and on ASX in coming months.
Click here for the full ASX Release
This article includes content from Triton Minerals Limited, 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.
TON:AU
Exceptional Downstream Milling and Purification Testwork Results
HIGHLIGHTS
- Further bench scale micronising, spheroidising and purification testwork completed on Springdale Graphite Project concentrates.
- A two product spherical graphite – SpG11 and SpG18 – yield of up to 76% achieved.
- Purification testwork achieves 99.99% - well above highest purity anode material product specification of 99.97%.
The testing, conducted by industry specialists ProGraphite GmbH, used 23kg of 95.3% loss on ignition (LOI) grade Springdale graphite concentrates to produce purified spheroidised graphite product.
Micronising and spheroidising (milling) testwork investigated several process circuit options resulting in two spheroidised graphite products – SpG18 and SpG11 – and a yield of up to 76% at a product size of D50 18µm (micron) and D50 11µm. The properties of both the SpG18 and SpG11 products exceeded the quality and physical specifications typically required for active anode materials.
The SpG samples were purified using an acid-based purification process. Purification testwork achieved 99.99% LOI grade, well exceeding the published industry benchmarks for anode materials. Figure 1 shows a Scanning Electron Microscope (SEM) typical image of the purified SpG18 (D50 18µm) sample.
International Graphite Technical Director David Pass said, “This testing was designed to optimise the milling processes with the goal of improving product output. The results are highly encouraging and show there is significant potential to increase yield well beyond the projections in our original scoping study1.
“The purification results have also reinforced original findings that Springdale graphite can achieve the purity standards industry typically requires for the production of active anode materials.”
Managing Director and CEO Andrew Worland said, “These results are another significant milestone in the development our mine-to-market production strategy and further evidence that our 100% owned Springdale Mineral Resource is a vital asset perfectly suited to the high growth lithium-ion battery anode sector.
“The unique operating expertise and intellectual property we are gaining from our R&D processing facilities in Collie is making an invaluable contribution to the development of our downstream flowsheet. This, coupled with further testwork, will significantly advance our battery anode feasibility studies.”
Figure1 SEM Image of SpG18 graphite sample
The purified SpG sample material will be used in future coating testwork and to advance process flowsheet development and equipment selection for the production of active anode material for batteries.
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.
NextSource Materials
Overview
Vision Blue Resources Ltd, a battery commodity/resource-focused investment company founded by Sir Mick Davis (former CEO of Xstrata Plc), made a significant strategic investment in NextSource Materials in 2021 to fully fund the construction of its Molo graphite mine in Madagascar. Production has begun, with Phase 1 mine operations currently undergoing ramp up to reach its nameplate production capacity of 17,000 tpa of graphite concentrate.
According to UK’s Benchmark Minerals Intelligence, battery demand for flake graphite is expected to grow between 5-7 fold by 2035. This dramatic spike in demand is due to graphite’s critical role as the anode material in lithium-ion batteries. Electric vehicle batteries contain between 60 to 90 kilograms of graphite per battery. By volume, graphite is the largest raw material in a lithium-ion battery. As the electric vehicle market continues to grow, investing in the companies that produce these valuable battery materials and have first-mover advantage can provide significant value-creation and exposure to this expanding market.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.
The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite.
The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.
Graphite in Madagascar is renowned for its quality and flake size. For almost a century, Madagascar has been exporting flake graphite to the world but in limited quantities. Molo will catapult Madagascar to a top 5 graphite producing country. With its Green Giant vanadium project also within close proximity to the Molo project, NextSource Materials controls two very strategic sources of battery materials at one source.
For further information about NextSource visit our website at www.nextsourcematerials.com or contact us a +1.416.364.4911 or email Brent Nykoliation, Executive Vice President, Corporate Development at brent@nextsourcematerials.com or email Craig Scherba, President and CEO at craig@nextsourcematerials.com.NextSource’s 100 percent owned and fully permitted Molo graphite project drew investor attention for its large, high-quality flake graphite deposit and unique SuperFlake graphite concentrate. Sir Mick Davis’s strategic investment of US$29.5 million in NextSource in May 2021 provided the entire funding to bring the Molo Graphite mine into production.
“This investment in NextSource underlines our belief that the massive secular change in demand for critical battery material resources is not being met by an appropriate supply-side response, largely as a result of capital constraints,” Davis stated.
The company utilized an all-modular build approach to construct the Molo mine. Phase one production will be approximately 17,000 tonnes per annum over the first two years with further planned expansion in year three.
The company made its first bulk container shipment of SuperFlake® graphite in October 2023 to its downstream technical partner's battery anode facility to be processed into spheronized, purified graphite (SPG) that will then be further processed into coated SPG (CSPG) as part of large scale, multi-step verification tests being conducted by automotive EV supply chains in South Korea and Japan. The first series of verification test results are expected back in Q1 2024.
In April 2021, the company finalized an exclusive technical partnership with a Japanese company thatprovides SPG to leading Japanese anode and battery makers, who in turn supply the Tesla and Toyota supply chains. NextSource has secured the licensing of a well-established process to produce SPG that is currently used in EV supply chains, as well as a coating technology that has been verified by a major Japanese coating company to produce CSPG. The company has also executed a commercial offtake agreement with thyssenkrupp Materials Trading GmbH, an international trading and services company headquartered in Essen, Germany, for the sale of 35,000 tpa of the SuperFlake® graphite products.
NextSource’s other highly prospective project, the Green Giant vanadium project in Madagascar, stands out for its sediment-hosted deposit profile, which is only seen in approximately 5 percent of total vanadium occurrences.
The company believes strongly in vanadium’s potential market growth with the popularization of VRBs as a leading technology for green energy applications. Since project acquisition in 2007, NextSource has spent over US$20 million on the exploration and development of the Green Giant.
NextSource’s management team and directors bring decades of professional mine development and capital markets expertise. NextSource has assembled an impressive team with a proven track record in mine operations and building shareholder value. This positions the company for significant growth and economic success as it strives to meet the world’s increasing demand for graphite.
Company Highlights
- The Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently undergoing ramp up to reach its nameplate production capacity of 17,000 tpa of graphite concentrate.
- Vision Blue Resources, a fund headed up by Sir Mick Davis that invests in strategic battery materials, is NextSource’s largest shareholder.
- Sir Mick Davis is NextSource’s chairman and this mining heavyweight brings years of valuable experience in mine development and operations expertise.
- NextSource will complete a feasibility study in November 2023 for its Phase 2 expansion of an additional 150,000 tonnes in order to meet the significant forecasted demand for graphite. Timing for Phase 2 construction is expected to take 18 months to complete from a final investment decision and when funding is in place, which would be predicated on securing an OEM offtake.
- NextSource is one of extremely few graphite companies to have secured long term offtakes with reputable partners. The first is for the sale of 20,000 tonnes per annum with a prominent Japanese trader that supplies the Tesla and Toyota battery supply chains, and the second is with thyssenkrupp Materials Trading for the sale of 35,000 tonnes per annum of SuperFlake® graphite concentrate.
- The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAFs). These BAFs will be capable of large-scale production of spherical, purified graphite (SPG) and coated SPG (CSPG) using established processing expertise for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner. Construction of its Phase 1 BAF in Mauritius is expected to be completed by the end of 2024.
- The Company also owns the Green Giant vanadium project, an advanced stage NI 43-101 resource that is one of the world’s largest known vanadium deposits. The sediment-hosted geophysical profile of this vanadium deposit is well-suited for vanadium redox batteries, which are a leading battery technology for large scale energy storage applications.
- NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol “NEXT” and on the OTCQB under the symbol “NSRCF".
Key Projects
Molo Graphite Mine and Project
The Molo graphite project ranks as one of the largest-known and highest-quality flake graphite deposits in the world. The property is over 62.5 hectares, sits in the Tulear region of Southwestern Madagascar and is located 11.5 kilometers east of the town of Fotadrevo.
The Molo mine has begun production, with Phase 1 mine operations currently undergoing ramp up to reach its nameplate production capacity of 17,000 tpa of graphite concentrate.
Total combined graphite resources at Molo are 141.28 million tonnes at 6.13 percent total graphitic carbon, with a contained ore reserve of 22.44 million tonnes at 7.02 percent graphitic carbon. The company has delineated over 300-line kilometers of continuous graphite mineralization at surface. NextSource has virtually an unlimited supply of graphite it can bring to the market in lockstep with demand.
NextSource has superior flake size distribution and well above the global average. The Molo asset is relatively unique for having almost 50 percent premium-priced large and jumbo flake graphite and can achieve up to 98 percent carbon purity with simple flotation alone. Molo SuperFlake® has been verified by end-users and meets or exceeds all criteria for the top demand markets for flake graphite; anode material for lithium-ion batteries, refractories, graphite foils and graphene inks.
NextSource has completed a series of feasibility studies on the project since 2015, with an updated feasibility study for phase two mine expansion expected in Q4 2023.
For all details and assumptions relating to the parameters of the mineral resource, reserve estimates, and data verification procedures for phase one of the Molo Project, please refer to the company’s website at nextsourcematerials.com.
Green Giant Vanadium Project
The 100-percent-owned Green Giant vanadium project is an advanced-stage exploration project located in South-central Madagascar and is one of the world’s largest known vanadium deposits. The project leverages ideal mining conditions and is in close proximity to NextSource’s Molo graphite mine.
The Green Giant Project is a rare type of vanadium deposit because it is sediment-hosted. No magnetic metals are associated with Green Giant’s vanadium, making the project ideal for producing high-purity vanadium pentoxide, a key material in vanadium redox batteries.
The property’s NI 43-101 compliant resource measures an estimated 60 million tonnes of vanadium pentoxide at an average grade of almost 0.7 percent at a 0.5 percent cut-off.
Management Team
Brent Nykoliation — Executive Vice-president
Brent Nykoliation joined the senior management team at NextSource Materials as vice-president in 2007 and leads the development and implementation of strategic partnerships and offtakes with supply chain customers. In addition, Nykoliation oversees all communications with institutional investors and analysts for the company.
He brings over 20 years of senior management experience, having held marketing and strategic development positions with several Fortune 500 corporations in Canada, notably Nestlé, Home Depot and Whirlpool.
Nykoliation holds a Bachelor of Commerce with Honours degree from Queen’s University.
Marc Johnson — Chief Financial Officer
Marc Johnson is a bilingual senior executive with over 20 years of business experience, including ten years at public corporations as CFO, VP of corporate development and other financial management positions, and ten years in capital markets in investment banking and equity research. Johnson is a chartered financial analyst and a chartered professional accountant and joined as CFO in October 2015. He also holds a bachelor of commerce (finance) from the John Molson School of Business at Concordia University in Montreal.
Jonathan (Johnny) Velloza- Interim Chief Operating Officer
Jonathan Velloza has a wealth of technical and operating experience in the mining industry spanning 30 years during which he managed operational optimization processes and large capital expansions across a range of commodities and in many jurisdictions. Velloza was previously Deputy CEO and COO of Gem Diamonds and CEO of Chemaf. Prior to this, he was with BHP Western Australia Iron Ore where, from 2013 to 2015, he was general manager at the largest iron ore mine in the BHP portfolio, leading a number of successful operational efficiency programs. He also acted as a senior exploration manager in Zambia and in Chile for BHP from 2011-2013, operations manager at AngloGold Ashanti from 2009-2010 and held numerous managerial positions at De Beers from 2001-2009.
Velloza holds a Bachelor’s degree in Mining Engineering from The University of Johannesburg and a Bachelor’s degree in Business from The University of South Africa.
Danniel Stokes - VP, Special Projects
Daniel Stokes joined NextSource in 2022. During his career, he has been responsible for providing project management support across a diverse portfolio of projects in mining, infrastructure, and nuclear industries; developing tools, implementing best practices and mentoring apprentices. Stokes holds degrees in engineering and business and has a qualification in project management from the Association for Project Management.
Markus Reichardt - VP, Sustainability
Markus Reichardt joined NextSource in 2023 and brings a practical understanding of integrating ESG into all stages of the project cycle based on a 25 year track record in operational, senior corporate and advisory roles in the resources, agricultural and renewables sectors across the developing world.
Reichardt is responsible for driving the Group’s safety, health, environment, social, climate change and quality performance and initiatives.
Reichardt is a former corporate environmental manager of AngloGold and holds degrees in history and restoration ecology.
Wilhelm Reitz - General Manager, Molo Mine
Wilhelm Reitz is a mine management professional with 28 years of experience in the global mining sector, with the last 11 years focussed on critical minerals and in developing technologies through design, engineering, and research on graphite. Reitz held senior management roles with AfriGold in Senegal and West African Diamonds in Sierra Leone and Guinea. Prior to joining NextSource, he was involved in developing and managing graphite mines in Madagascar for Stratmin Global and Greenwing Resources. Reitz holds a BSB Diploma in Leadership and Management and studied with AIM in Australia, faculty of management.
Lydia Boarlaza - Country Manager, NextSource Materials
Lydia Boarlaza joined NextSource as Country Manager in January 2021 and has had extensive management experience in the Madagascar mining sector over her career. She has served in general manager and resident manager roles for various companies including Madagascar Consolidated Mining S.A., Madagascar Oil S.A., Avana Group, Hunt Oil Madagascar, and Shell Exploration & Development Madagascar BV. She is a member of the board of directors of Madagascar Chamber of Mines, member of the National Committee within the EITI Madagascar, and member of the Women in Mining and Resources Association in Madagascar.
Board of Directors
Sir Mick Davis — Chairman
Sir Mick Davis is the CEO of Vision Blue Resources and a highly successful mining executive accredited with building Xstrata plc into one of the largest mining companies in the world before its acquisition by Glencore plc. Before listing Xstrata on the LSE as CEO he was CFO of Billiton plc and Chairman of Billiton Coal which he joined from the position of Eskom CFO. During his career in mining, he has raised over US$40bn from global capital markets and successfully completed over US$120bn of corporate transactions, including the creation of the Ingwe Coal Corporation in South Africa; the listing of Billiton on the LSE; the merger of BHP and Billiton; as well as numerous transactions at Xstrata culminating in the sale to Glencore plc. Sir Mick Davis is a chartered accountant by profession and holds an honours degree in commerce from Rhodes University, South Africa and an honorary doctorate from Bar Ilan University, Israel.
Hanré Rossouw - President and Chief Executive Officer
Hanré Rossouw joins NextSource from his role as executive director and chief financial officer of Sasol Limited with extensive experience in the global natural resources industry over the last 25 years. A British and South African national, Rossouw has held senior positions in leading global mining and investment companies where his roles involved business development, M&A, capital markets, asset management and growth optimization. Rossouw was chief financial officer and executive director of Royal Bafokeng Platinum between October 2018 and March 2022 having joined after 5 years as a portfolio manager at Investec Asset Management. He was latterly CFO of the Alloys Division having been part of the small head office team which completed numerous international transactions and associated fundraisings as part of a corporate development plan which grew the market capitalization fivefold during his tenure. Rossouw worked at both Accenture and as a project manager with De Beers Group having started in the mining industry as a metallurgist with Anglo American in 1998. He studied chemical engineering at Stellenbosch University and Economics at the University of South Africa as well as completing an MBA at the University of Oxford's Said Business School.
Ian Pearce – Director
Ian Pearce is the former CEO of Xstrata Nickel, and was the former COO of Falconbridge Limited, which was acquired by Xstrata Plc in 2006. Xstrata Plc’s acquisition of Falconbridge was one of the largest mining takeovers globally and one of the largest takeover bids in Canadian history. Pearce was also a founding partner of X2 Resources who, along with Sir Mick Davis, made up the team of six ex-Xstrata executives who formed the mid-tier diversified mining and metals company. He currently serves as a director for several global companies in the mining and metals, energy, and sustainability industries. Pearce previously served as chair of the Mining Association of Canada and chair of the Nickel Institute. He holds a BSc from the University of the Witwatersrand, South Africa and an HNDT in Mineral Processing from the University of Johannesburg, South Africa.
Craig Scherba — Director and Chief Development Officer
Craig Scherba was appointed president and CEO in September 2012 and has been a director since January 2010. Previously, Scherba served as vice president of exploration of the company, since January 2010. Scherba was a managing partner for six years with Taiga Consultants, a mining exploration consulting company. He has been a professional geologist since 2000, and his expertise includes supervising large Canadian and international exploration programs. Scherba was an integral member of the exploration team that developed Nevsun Resources’ high-grade gold, copper and zinc Bisha project in Eritrea. He served as the company’s country and exploration manager in Madagascar during its initial exploration stage, discovering both the Molo Graphite and the Green Giant Vanadium deposits.
Brett Whalen — Director
Brett Whalen has over 20 years of investment banking and M&A expertise, spending over 16 of those years at Dundee Corporation. During his tenure at Dundee, Whalen was directly involved in completing approximately $2 billion in M&A deals and helped raise over $10 billion in capital for resource sector companies. While a vice president and portfolio manager of Goodman & Co., he oversaw the investment of $6 million into NextSource, enabling the company to achieve key technical milestones, notably the completion of its July 2017 Phase One Feasibility Study and the concept and design of the whole modular build approach NextSource will be utilized for construction of both Phase One and Phase Two of the Molo mine. Whalen has extensive knowledge of both graphite and vanadium and the general battery materials industry.
Whalen has held board seats of several TSX-listed and privately held companies and holds a BA (Honours) degree in Economics and Finance from Wilfrid Laurier University.
Christopher Kruba — Director
Christopher Kruba is vice-president and legal counsel to Nostrum Capital Corporation and several related corporations that are part of the Toldo Group. The Toldo Group is headquartered in Windsor, Ontario and is composed of several privately held corporations in Canada and the United States, some of which have large manufacturing operations in diversified sectors and others that are involved in active and passive investments across capital markets throughout North America, Europe and Africa. In addition to his responsibilities as counsel to the Toldo Group, Kruba serves as corporate secretary to all the companies, is a member of the group’s investment committee and serves on the board of directors of many of the companies.
Springdale Continues to Build with Further Spectacular Diamond Drilling Assays
HIGHLIGHTS
- Another set of spectacular assay results from diamond drilling at the Springdale Central deposit.
- Stand out graphite intercepts1 include:
- 11.1m @ 16.9% Total Graphitic Carbon (TGC) from 23.1m downhole (SGDD0021)
- 13.4m @ 19.2% TGC from 35.3m downhole, including 2.9m @ 31.4% TGC from 38.8m downhole (SGDD0021)
- 10.3m @ 36.3% TGC from 41.8m downhole (SGDD0022)
- 3.8m @ 21.3% TGC from 17.2m downhole, including 3.1m @ 25.5% TGC from 17.9m downhole (SGDD0017)
- 9.7m @ 6.2% TGC from 75.8m downhole (SGDD0017)
- 28.7m @ 12.1% TGC from 93.0m downhole, including 4.1m @ 23.3% TGC from 112.0m downhole (SGDD0019)
It follows outstanding results received last month2 from the Springdale Mason Bay deposit.
A ten-hole PQ diamond drilling program was completed between May and July this year at the Mason Bay and Springdale Central deposits. The program focussed on geotechnical drilling, to inform mine planning and permitting, and to provide metallurgical data for concentrator plant process design.
Of the six holes drilled at Springdale Central, SGDD 22 - a twin of SGRC 18 - and SGDD 21 are located approximately in the centre of the Springdale Central and SGDD 17 and 19 were drilled at the northern end of Springdale Central. The results continue to confirm the continuity of mineralisation along strike, the grade and overall veracity of the mineral resource. SGDD 18 and 20 were drilled for geotechnical purposes in the proposed pit walls of Springdale Central.
Managing Director and CEO Andrew Worland said, “We have said it before, but it bears repeating, it is clear to us that a spectacular graphite deposit is continuing to reveal itself at Springdale. The more we drill at Springdale the more high grade, thick, near surface intercepts of graphite mineralisation we find. So many of the key determinants for a low-cost mine are present: shallow overall deposit depth, limited drill and blast, good grades, oxidised material for processing, single product lines – and all in a tier one mining jurisdiction. On top of all the positive attributes, the exploration potential for future mineral resource growth is clear to see.”
Figure 1: Location of International Graphite projects, in Western Australia
Figure 2 shows the location and significant intercepts of the six diamond holes at Central. Results are detailed in Tables 1 and 2.
Figure 2: Springdale Central Cross-section showing multiple graphite zones intersected for SGDD0017 and SGDD0019
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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.
Altech – CERENERGY® First 60 KWh Prototype Online and Achieving Great Results
Highlights
- CERENERGY® 60 KWh prototype completed and operating
- Undergoing daily testing with battery test station at Dresden
- Outperformed early expectations
- Exhibiting exceptional efficiency and robust performance
- Maintains safe, optimal operating temperatures
- Ongoing testing providing critical data for off-take parties
- Strong commercial potential for large-scale production
- Separate individual cell testing conducted
- Demonstrates performance to published specifications
Photo: Ms Daniela Herold (Fraunhofer IKTS Battery Development Leader) taking CERENERGY® ABS60 through its paces
Altech’s CEO and MD Iggy Tan stated“We are extremely pleased that the first CERENERGY® 60kWh battery prototype is now up and running and operating better than expected, reconfirming our confidence in the sodium-chloride solid-state battery technology developed by the world-leading Fraunhofer Institute in Germany. Using common table salt technology and without the requirement for lithium, copper, cobalt, graphite and manganese, the CERENERGY® battery can operate in a wide range of temperatures and has a life of 15 years, around double that of lithium-ion batteries.
The prototype can now be demonstrated under real-world conditions, providing critical data for off-take parties. This will be invaluable as Altech pushes forward with sales and finance to construct the first 120MWh plant. With the first Letter of Intent for 30MWh of offtake with Schwarze Pumpe Industrial Park recently announced, we envisage that having the CERENERGY® 60kWh battery prototype up and running and exceeding expectations, will further assist in the offtake process”.
Initial results from the testing are extremely promising. The ABS60 battery has outperformed early expectations, exhibiting exceptional efficiency and robust performance across all key metrics. Notably, the battery has maintained excellent thermal stability, a crucial factor in high-capacity energy storage systems. Throughout rigorous testing, it has operated within safe temperature limits, with no signs of overheating. This highlights the effectiveness of the battery's thermal management system, which plays a vital role in enhancing both the safety and longevity of the battery. These early findings confirm the battery’s design integrity and bolster confidence in its commercial viability. The ABS60 prototype is expected to continue undergoing further testing and refinement, providing critical data for potential off-take parties.
The success of this prototype positions Altech Batteries at the forefront of advanced battery technology, offering a reliable and efficient energy storage solution.
Comment from Mr Uwe Ahrens,
Managing Director of Altech Batteries GmbH
You Tube https://youtu.be/BLrh0bHutlclink
Individual Cell Testing
An individual cell testing program has also been conducted by the Fraunhofer team at Hermsdorf, Germany. Separate battery cells underwent extensive testing, highlighting their performance and stability. A total of 497 individual battery cells were produced. The cells were tested at an operational temperature of 300°C. Key results from over 500 cycles demonstrated stable performance, including a consistent discharge capacity of 80 Ah and an efficiency of up to 91%. The discharge energy and capacity remained stable without any indication of degradation occurring across the 500 cycles, and the average discharge voltage held steady throughout the tests.
Discharge and overcharge stress and abuse tests were conducted without any cell failures, confirming the cells’ durability. These findings demonstrate the cells’ potential for long-term stability, high energy capacity, and reliability in high-temperature applications.
Photo: Prototype 60 KWh battery being assembled and tested at Fraunhofer IKTS laboratory
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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.
