graphite products manufacturer GrafTech International
Ltd recorded a net loss of $23m, or $0.17/diluted
share, for the second quarter of this year. On an adjusted
basis, the loss stood at $17m for the period, compared to a
loss of $6m for Q2 2014.
Net sales fell by 42% year-on-year (y-o-y)
to $284m, driven by lower shipment volumes and pricing across
"Persistent weak demand in the global
steel market has created a very challenging environment for the
industrial minerals segments," said Joel Hawthorne,
GrafTech’s CEO, referring to a drop in sales to
$125m for Q2 2015, down from $207m the previous year.
"Graphite electrode demand has declined
further as end market weakness continues and as global electric
arc furnace steel production has been partially displaced by
Chinese steel exports," he added.
solutions segment, meanwhile, recorded a drop in sales to $40m
from $78m y-o-y, which the company attributed to lower sales of
advanced electronics technology products.
Canada-based Focus Graphite
Inc. has issued a statement clarifying certain
disclosures relating to its Lac Knife graphite project in
Quebec, Canada, contained in previous news releases.
In a release dated 25 June 2014, Focus reported a mineral
reserve estimate without stating whether the mineral reserve
was included in, or excluded from, the mineral resource
contrary to section 2.2(b) of NI 43-101 requirements. The
company also omitted to state the reference point at which the
mineral reserve is defined.
Focus clarified that Lac Knife’s mineral reserve
is included in the measured and indicated resource of 9.576m
tonnes grading 14.77 C and that the reference point for the
mineral reserve estimate is the mill feed.
The company also
said that the use of the phrase "NI 43-101 compliant", jused in
a 28 January 2014 release, was potentially misleading when
referring to mineral resource or reserve estimates or technical
clarifications, one relating to section 2.2(b) of NI 43-101 in
December 2014 and another relating to the use of terminology in
Focus’ corporate presentation were also issued and
the offending documents were amended in line with Ontario
Securities Exchange requirements.
TSX-V-listed Alabama Graphite
Corp. has begun a preliminary economic assessment
(PEA) of its Coosa graphite project in Alabama, US.
The company has engaged AGP Mining Consultants
Inc. to conduct the PEA, which is expected to be
published in Q4 2015.
Objectives as part of the assessment
include completion of a scoping study, estimating the potential
value of the project as well as operating and sustaining costs
and a conceptual timeline for the development of the
Canada Strategic Metals
Inc. and Lomiko Metals Inc.
have released the results of 40 surface samples taken from the
La Loutre graphite property in Quebec, of which 13 had grades
ranging between 20.3% C and 27.6% C.
A further 19 samples yielded grades
between 10.25% C and 19.65% C, meaning that 32 of the samples
graded at over 10% C – a proportion that
Lomiko’s CEO, Paul Gill, described as "very
The companies now intends to proceed with
a drilling programme at the site, where they have already
mobilised a drill rig for up to 10,000 metres of drilling.
Great Lakes Graphite
Inc. has terminated an option agreement with Eloro
Resources for the Summit-Gaber precious metals property in
The company said that the decision was
part of its strategy to focus on graphite and its Matheson
micronisation facility in Ontario, which Great Lakes is
preparing to commission in late 2015.
Great Lakes said it will settle a debt of
$28,912 related to the Summit-Gaber project by issuing 270,000
common shares at a price of $0.107/share to Eloro.
ASX-listed IMX Resources Ltd
has identified two strongly conductive drill targets close to
previously identified high grade Shimba resource at its Chilalo
graphite project in southeast Tanzania, following a fixed loop
magnetic survey of the property.
The company said that although it does not
have any immediate plans to drill out the potential resource
extensions at Shimba but noted that the new discoveries meant
that any future mining operation at Chilalo could be
Also in Tanzania, fellow ASX-listed
Black Rock Mining
Ltd has been progressing its development of the
Mahenge graphite project, with grades of between 6.51% C and
20.4% C reported from a number of prospects across the property
in recent weeks.
The Manhenge project is contiguous to
fellow ASX-listed Kibaran Resources
Ltd’s Epanko project and has an initial
exploration target of between 30m and 60m tonnes at 8-12% C.
The company is working towards a maiden resource for the Epanko
North part of the project as part of the present exploration
In financial news, TSX-V-listed Zenyatta Ventures
Ltd intends to complete a non-brokered private
placement for gross proceeds of up to $2m, via the sale of
units priced at $1.25/unit.
Each unit will consist of one common share
and one half of one common share purchase warrant, entitling
the holder to purchase one common share for $1.65 for a period
of 12 months from the date of issuance.
In graphene news, ASX-listed Metals of Africa
Ltd has said that graphene oxide and graphene have
both been successfully produced from graphite taken from its
Montepuez Central project in Mozambique.
Three exfoliation processes were tested,
including a thermal method and a chemical reduction process,
with the thermal process yielding the best results – a
technique which the company noted is both simple and
Separately, Metals of Africa released a
quarterly activities report for the three months ending 30 June
2015, where it revealed that it had just over Australian dollar
(A$) 1m ($723,000*) in the bank. The company added that
drilling has commenced at Montepuez to define a maiden JORC
resource for the project.
UK-based Graphene Lighting
Plc is to list in Canada through a reverse takeover by
TSX-V-listed Canadian capital pool company, Oriana Resources
The two companies have signed a letter of
intent outlining the terms of the reverse takeover, which
involves a share exchange arrangement that will make Graphene
Lighting a wholly-owned subsidiary of Oriana.
Graphene Lighting is also required to
close a $5m brokered private placement of subscription
receipts, with the proceeds to be used to execute the
company’s product development, sales and marketing
5th Graphite & Graphene
Conference will be held on 8-9 December at the Waldorf
Hilton in London. For more information, contact Peter Gilfillan
*Conversion made July