Bass Metals Limited announced that it has now completed the recommissioning of the newly refurbished Process Plant at the Graphmada Large Flake Graphite Mine, located in eastern Madagascar.
This follows the successful wet commissioning of the Process Plant yesterday completing the final phase of Stage 1. Further testing will now take place to assist in synchronising and optimising the graphite recovery process, prior to the recommencement of graphite production in the coming days.
The completion of Stage 1 delivers the Company’s valued shareholders a 100% owned mine free of debt, with an offtake agreement in place, producing premium large flake graphite concentrates at a time of rising prices.
Bass is now established as one of only two ASX listed producers, and one of only four publicly listed graphite producers globally.
Graphmada is now moving rapidly into the commercial ramp up phase to supply international customers with high value, premium large flake concentrates, with the aim of delivering positive cash flow.
Strong market conditions, with limited large flake graphite supply and market growth is leading to strong demand for Graphmada’s premium graphite concentrates. The Company has received significant interest in its planned concentrate sales and is developing many strong relationships, most notably Possehl Erzkontor GmbH & Co. KG based in Europe, who will purchase 3,000 tpa of graphite concentrates for a period of three years from this calendar year.
With Stage 1 complete, the Company will continue with its long-stated strategy of expanding production to 20,000 tpa (Stage 2), while aggressively drilling, in the second half of 2018, the highly prospective Millie’s Reward lithium project, which has encountered surface samples of up to 7.0% Li2O.
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