TSX-V-listed Flinders Resources
Ltd has issued a statement clarifying that, under
international financial reporting standards, the company is yet
to achieve "commercial production" at its Woxna
graphite mine and plant in Sweden.
Last week, the company announced it was pausing operations at
the project and would maintain the facility on a "production
ready" basis until graphite prices and demand improve.
In its latest statement, Flinders
explained that commercial production entails a situation where
production costs are no longer capitalised and are instead
reported as operating costs, following the commissioning of the
mine and plant.
The company decided to restart the
past-producing Woxna mine to establish sales and market
presence without incurring the costs of a feasibility study,
and had been producing saleable grades of material since
However, the weakness in graphite prices,
which Flinders judges to have fallen to four-year lows, forced
the company to shutter the mine and plant in order to conserve
its cash position.
StratMin Global Resources
Plc has sold all of its graphite finished product
inventory grading under 94% C.
The material was stockpiled as the company
worked to establish consistent production of
flake graphite at a purity 94% C and above – the
benchmark grade required by StratMin’s undisclosed
offtake partner – which the company achieved in May
StratMin said that the sale was realised
in cooperation with its offtaker and its new joint venture partner,
privately held Indian miner Tirupati Carbons and Chemicals Ltd.
"Tirupati has collaborated with StratMin’s offtake
partner and found buyers for the balance of this sub-94% C
[carbon in graphite] material," StratMin said.
Brett Boynton, the
company’s CEO, said that selling off the material
helped to free up working capital and proved the existence of
demand for all types of graphite, but did not disclose the name
of the buyer or the price paid for the material.
"There is a market for every grade of
graphite (…) The proven ability to efficiently move
other grades of product (…) gives us increased
commercial confidence as we prepare to expand operations," he
ASX-listed Talga Resources
Ltd has begun site works as part of its trial mining
programme at its Vittangi graphite project in Northern
Since receiving the trial mining permit
from the Swedish Environmental Review Commission at the
beginning of April, the company has secured all the necessary
clearances to begin work on the property.
Talga anticipates that the graphite ore
extraction programme will commence in mid-July. Sawn blocks of
raw graphite ore will be transported from Vittangi, which forms
part of the company’s 7.6m tonne Nunasvaara
graphite resource, to its Rudolstadt storage and processing
facility for liberation into graphite and graphene products for
end user sampling.
Australia-based Archer Exploration
Ltd has reported "significant progress" in research
conducted by the University of Adelaide into potential large
scale uses for carbon derived from ore at its Sugarloaf
graphite deposit on South Australia’s Eyre
Archer claims that the material has unique
physical and chemical characteristics that could allow it to
sell run-of-mine graphite as a soil conditioner, owing to its
naturally elevated levels of macro and micro nutrients.
The company intends to conduct further
leaching and soil tests over the next few months before
commencing plant growth trials.
The Sugarloaf deposit is located on
Archer’s Carappee Hill tenement, 10km west of the
Campoona graphite project, for which the company lodged a draft
mining lease proposal in May this year.
Ltd has engaged Rubicon Resources
Ltd to assist in the development and operational
phases of its three graphite projects in Mozambique.
Rubicon will provide ASX-listed Triton
with a range of services through its Mozambique subsidiary,
PacMoz Lda, including permitting, licencing, business
administration, human resources and legal support.
Triton is developing the Nicanda Hill and
Ancuabe exploration projects in Mozambique, as well as a
graphite processing plant in the port city of Pemba.
In synthetic graphite, GrafTech International
Ltd has said that its EBITDA* and operating cash flow
for the first half of 2015 is likely to be at the low end of,
or even below, its previous guidance range of $30-40m.
The Parma, Ohio-based manufacturer of
graphite electrodes said that market conditions remain
challenging for both its industrial materials and engineered
solutions segment, citing lower volumes and pricing
GrafTech reported a loss for the first
quarter of this year of $55.6m, or $0.10/share on an adjusted
basis, for the three months to the end of March.
In financial news, ASX-listed Valence Industries
Ltd is to draw down Australian dollar (A$) 3m
($2.29m**) as part of an $20m bridge financing deal agreed with
Singapore-based Chimaera Capital Markets
Pte Ltd to fund its production and expansion plans at
Uley graphite property in South Australia.
A further A$500,000 is available under the
bridge, which will provide interim funding while the remaining
conditions for an initial $20m facility are satisfied. These
relate to independent technical verifications, including of
Valence’s operating production, geological
resources and customer sales contracts for Uley.
Valence’s debt finance
strategy is structured as standalone funding to be supported by
production revenues from its project, which recommenced
graphite processing operations in 2014.
Massachusetts, US-based F2 Capital has
agreed to provide Canada-based Great Lakes Graphite
Inc. with $750,000 debt financing to recommission
Great Lakes’ Matheson graphite micronisation
facility in Ontario.
Paul Gorman, CEO of Great Lakes, said that
the funding would address the immediate capital requirements of
the Matheson plant, allowing the company to complete
commissioning without an onerous debt load and with minimal
Under the terms of the financing deal, F2
Capital will receive an interest rate of 8.5% per annum plus a
4% gross overriding royalty on the first 30,000 tonnes produced
from the micronisation facility. F2 also has the option to
convert the principal amount under the debt note to common
shares in Great Lakes at a conversion price of $0.10.
F2 has also been issued with 1.875m
warrants, each of which is exercisable into a common share in
Great Lakes at a price of $0.10/share for a period of four
Corp. has closed a private placement for gross
proceeds of $2.875m, following the issue of 14.375m units in
the company at a price of $0.20/unit.
The placement was led by First Republic Capital
Corp. and the final amount raised includes First
Republic’s option to sell 15% of the units.
Net proceeds from the raising will be put
towards drilling programmes at the company’s Coosa
and Bama graphite projects in Alabama, US; the preparation of
an updated mineral resource estimate and preliminary economic
assessment for Coosa; metallurgical testing at both properties;
value-added graphite initiatives; and general working
The company has also begun using material
from both Coosa and Bama to produce coated spherical graphite
for use in lithium-ion battery anodes.
graphene news, Graphene 3D Lab
Inc. has entered a distribution and manufacturing
partnership with China-based filaments manufacturer,
The agreement will see
Shanghai-headquartered Polymaker, which has a global network of
sales offices, distribute all Graphene 3D Lab’s
speciality and functional filaments and provide filament
manufacturing services as required.
Graphene 3D Lab, which is based in
Calverton, New York, US, will list Polymaker’s
products on its online store.
Graphite & Graphene Conference will be held on 8-9
December at the Waldorf Hilton in London. For more information,
contact Peter Gilfillan email@example.com.
*Earnings before interest,
taxes, depreciation and amortisation
**Conversion made July