AMVMF - Graphite Miners News For The Month Of August 2023

2023-08-29 13:55:25 ET

Summary

• Flake graphite prices & spherical graphite prices were flat the past month.
• Graphite market news - Fastmarkets: "The graphite long-term outlook remains strong" but "Synthetic graphite AAM capturing rising market share."
• Graphite company news - Syrah extends USA supply chain support through binding offtake agreements for Balama natural graphite with Graphex and Westwater. Syrah enters into MOU with Samsung SDI.
• Renascor Resources' Siviour BAM Project Post-tax unleveraged NPV10% of A$1.5 billion, post-tax unleveraged IRR of 26%. Rio Tinto invests A$40.4 million in Sovereign Metals resulting in an initial 15% shareholding.

Welcome to the August edition of the graphite miners news.

August saw continued depressed flake graphite prices and a solid month of news, especially from the junior graphite miners.

Graphite price news

During the past 30 days, the China graphite flake-194 EXW spot price was down 1.03%. The China graphite flake +195 EXW spot price was up 0.32% . Note that 94-97% is considered best suited for use in batteries; it is then upgraded to 99.9% purity to make “spherical” graphite used in Li-ion batteries. The spherical graphite 99.95% min EXW China price was down 0.84%% the past 30 days.

Fastmarkets’ price assessment for graphite flake, 94% C, -100 mesh, fob China , was $750-770/t on March 2, 2023 (down ~10% since the chart below in March 2023) ( source )

Note: You can read about the different types of graphite and their uses here .

Graphite demand and supply forecast charts

BMI graphite-market-balance benchmarkweek-2022 ( source )

Macquarie Research (March 2023) forecasts flake graphite deficits starting in 2025 and growing larger to 2030 ( source )

Trend Investing v IEA demand forecast for EV metals ( Trend Investing ) ( IEA )

2021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020 - Increases Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Rare Earths 3x to 7x, And Copper 2x to 3x

2022 - BMI forecasts we need 330+ new EV metal mines from 2022 to 2035 to meet surging demand - 97 new 56,000tpa natural flake graphite mines

Benchmark breakdown of the supply chain estimated costs needed to reach 2030 battery cell demand estimates - Natural graphite will require $3b, synthetic graphite $1.5b ( source )

Graphite market news

On August 15 Fastmarkets reported :

Graphite market outlook: Five key factors to watch......

1. The graphite long-term outlook remains strong. Natural graphite flake prices are forecast to rise significantly over the coming decade, propelled higher by exponential growth in the EV battery sector and underlying changes to global graphite supply......

2. Competition from synthetic graphite intensifies. Declining prices this year reflect a number of factors, most critically rising competition from Chinese synthetic graphite active anode material [AAM] in response to lower Chinese power costs and significant increases to graphitization capacity in China. This has been exacerbated by reduced demand from the electric arc furnace [EAF] steel sector for graphite electrodes.......

3. Synthetic graphite AAM capturing rising market share.

4. Increased competition from synthetic graphite dampening prices in 2023.

5. Future growth in natural graphite demand will be driven by ex-China consumers.

On August 17 Northern Graphite released a video titled:

Graphite: Demand Critical.....Graphite’s current low prices may have lulled users into a false sense of security, but multiple demand drivers are on the horizon and prices will rise, considerably and sooner than later."

Graphite miners news

Graphite producers

We have not covered the following graphite producers as they are not typically accessible to most Western investors. They include - Aoyu Graphite Group, BTR New Energy Materials, Qingdao Black Dragon, National de Grafite, Shanshan Technology, and LuiMao Graphite.

Note: AMG Critical Materials N.V. [AMS:AMG] [GR:ADG] ( OTCPK:AMVMF ) is also a "diversified producer", producing graphite, vanadium, and lithium. SGL Carbon (SGLFF) is a synthetic graphite producer and Novonix [ASX:NVX] ( NVNXF ) is commercializing their synthetic graphite product. Graphex Group Limited [HK:6128] (GRFX) makes spherical graphite.

Syrah Resources Limited [ASX:SYR][GR:3S7]( OTCPK:SYAAF )( OTC:SRHYY )

Syrah Resources Limited owns the Balama graphite mine in Mozambique. Syrah is also working to become a vertically integrated producer of natural graphite Active Anode Material (“AAM”) at their Vidalia facility, Louisiana, USA.

On August 3, Syrah Resources announced : "Natural graphite offtake and marketing strategy." Highlights include:

• "Syrah enhances its sales strategy to improve stability of Balama production and sales.
• Extended USA supply chain support through binding offtake agreements for Balama natural graphite with Graphex and Westwater.
• Geographic diversification in natural graphite sales to active anode material (“AAM”) and battery markets in place from 2024, and targeting 100ktpa Balama fines sales to third-party AAM customers ex-China from 2026.
• Further Balama natural graphite commercial supply arrangements being negotiated with ex-China anode processing and downstream companies."

On August 8 Fastmarkets reported :

Syrah Resources’ latest graphite deals ‘in line with supply diversification’ trends. Australia-based graphite miner Syrah Resources has signed two binding offtake agreements with Graphex Technologies, a multinational purified spherical graphite producer, and Westwater Resources, a US-based junior graphite anode producer......

On August 9, Syrah Resources announced : "Syrah enters into MOU with Samsung SDI." Highlights include:

• "Syrah enters into a non-binding memorandum of understanding with Samsung SDI, a leading global manufacturer of lithium-ion batteries.
• Syrah and SDI will evaluate natural graphite active anode material (“AAM”) supply from the Vidalia AAM facility in USA."

On August 15 Bloomberg reported :

Graphite producer Syrah pins hopes of mine restart on end of China supply glut. Syrah sees graphite demand returning as China inventory clears.....Syrah Chief Executive Officer Shaun Verner said he hopes his company can return its African mine to full output over the next few months once surplus Chinese graphite inventory starts to clear. China’s production is largely seasonal and its summer production tends to finish by November, he said in an interview.

You can view the latest investor presentation here or the May 2023 AGM presentation here .

Catalysts:

• December 2023 quarter - First Stage 11.25ktpa AAM Vidalia facility targeted to start production.

Natural graphite and AAM demand will increase three and five times, respectively, over the next 10 years ( source )

Ceylon Graphite [TSXV:CYL] [GR:CCY] ( OTC:CYLYF )

Ceylon Graphite has 'Vein graphite' production out of one mine in Sri Lanka with 121 square kilometers of tenements.

On August 2, Ceylon Graphite announced :

Ceylon Graphite enters into distribution agreement with Advanced Performance Materials.....“We are pleased to be working with APM in pursuing many potential customer relationships,” said Sasha Jacob, Ceylon CEO. “As the Ceylon graphite material and its performance becomes more widely known, we are seeing a consistent growth in interest from customers in a wide range of sectors seeking to take advantage of the benefits of our high-carbon, low-environmental footprint natural vein graphite.”

Mineral Commodities Ltd. ("MRC") [ASX:MRC]

Skaland Graphite is 100% owned by MRC. Skaland is the highest grade flake graphite operation in the world and largest producing mine in Europe; with immediate European graphite production of up to 10,000 tonnes per annum with regulatory approval to increase to 16,000. MRC plans to demerge its Norwegian graphite assets into a newly incorporated Norway company branded as Ascent Graphite.

On July 31, Mineral Commodities Ltd. announced : "Quarterly activities report – June 2023." Highlights include:

.....Subsequent to quarter end:

• "MRC takes 100% ownership of Skaland, after acquisition of minority shareholder interest.
• Appointment of Scott Lowe as Chief Executive Officer, with effect from 1 September 2023."

Corporate and Cash

• "Cash: US$5.3 million as at 30 June 2023 (US$4.8 million as at 31 March 2023).
• Debt: US$4.3 million as at 30 June 2023 (US$4.9 million as at 31 March 2023)......"

Tirupati Graphite [LSE:TGR]

On August 3, Tirupati Graphite announced :

Final results FY23. Achieved key milestone at Madagascan graphite projects: Completed and commissioned 18,000tpa Sahamamy plant. Upgraded Vatomina's capacity to 12,000tpa. Achieved production and first sale of 97% purity flake graphite..... 76% increase in revenues versus 50% increase in quantity sold reflects higher price realisation in US$ terms and impacts of GBP depreciation against US$ during the year.....

On August 8, Tirupati Graphite announced : "Q1 FY24 operational and business development update." Highlights include:

• "Production ramp-up continues following the completion of the Vatomina and Sahamamy projects, combined capacity of 30,000 tons per annum. Development included strengthening of infrastructure to manage local weather conditions.
• Production for Q1 FY24 was 2,371 tons (Q1 FY23: 822 tons), an increase of 188%.
• Sales for Q1 FY24 were 2,772 tons (Q1 FY23: 803 tons), an increase of 245%.
• The Company remains focused on reaching monthly production and sales minimum target of 2,000 tons and expects to achieve this important milestone in Q3 FY24....."

On August 10, Tirupati Graphite announced :

Tirupati receives prepayments to support production ramp-up. Tirupati Graphite......is pleased to announce it has received c.US$ 1 million net of prepayments from existing clients, to support the ramp-up of operations.

Northern Graphite [TSXV:NGC][FRA:ONG] ( OTCQX:NGPHF )

Northern Graphite purchased from Imerys the Lac des Iles producing graphite mine in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia. They also own the Bissett Creek graphite project located 100km east of North Bay, Ontario, Canada and close to major roads and infrastructure. The Company has completed an NI 43-101 Bankable final Feasibility Study and received its major environmental permit.

On August 2, Northern Graphite announced : "Northern Graphite’s Lac des Iles Mine may have many more years, preliminary drill results show." Highlights include:

• "Section B (west wall between pit 2 and pit 6)
  • Hole F4-23-02 returned 8.19% graphitic carbon (“Cg”) over 7.3m,
  • Hole F4-23-04 returned 7.47% Cg over 2.6m, 5.56% Cg over 1.2m, and 5.14% Cg over 6.7m, and
  • Hole F4-23-08 returned 8.29% Cg over 5.8m.
• Zone 4 (west wall of pit 2)
  • Hole F4-23-28 returned 9.85% Cg over 16.95m,
  • Hole F4-23-29 returned 7.45% Cg over 23.6m, and
  • Hole F4-23-42 returned 9.43% Cg over 14.2m."

On August 16, Northern Graphite announced :

Northern Graphite files amended Okanjande technical report and clarifies certain technical disclosure.....

On August 28 Northern Graphite announced : "Northern Graphite completes Preliminary Economic Assessment on relocating processing plant for Namibian Operations."

You can view the latest investor presentation here and the Trend Investing article on Northern Graphite here or a Trend Investing CEO interview here .

NextSource Materials Inc. [TSX:NEXT] [GR:1JW] ( NSRCF )

NextSource Materials Inc. 100% owns the Molo Graphite Mine in Madagascar. The Company also has the Green Giant Vanadium Project on the same property.

On August 1, NextSource Materials Inc. announced : "NextSource closes overnight marketed offering for gross proceeds of C$50 million....."

Investors can view the latest company presentation here or the latest Trend Investing article here .

Gratomic Inc. [TSXV:GRAT] [GR:CB82] ( CBULF )

Gratomic’s Aukam Graphite Project is located in Namibia, Africa. Gratomic also 100% own the Capim Grosso Graphite Project in Brazil. Gratomic is also collaborating with Forge Nano to develop a second facility for graphite micronization and spheronization.

On August 16, Gratomic Inc. announced : "Gratomic issues NI43-101 Technical Report and Mineral Resource Estimate for its 100% owned Capim Grosso Project."

Graphite developers

Talga Group [ASX:TLG] [GR:TGX] ( OTCPK:TLGRF )

Talga Group is a technology minerals company enabling stronger, lighter and more functional materials for the multi-billion dollar global coatings, battery, construction and carbon composites markets using graphene and graphite. Talga 100% owned graphite deposits are in Sweden, proprietary process test facility is in Germany.

On August 9, Talga Group announced : "Talga’s battery anode sustainability underpins leadership position in European market." Highlights include:

• "In a new peer-reviewed Life Cycle Assessment, manufacture of Talga’s flagship anode product Talnode®-C has 92% less global warming potential than existing EV anodes imported into Europe.
• LCA shows potential savings of 1.6 tonne CO2-eq in production of an EV battery.
• Strong green credentials underpin Talga’s leadership position in European market where new battery regulations are increasing sustainability requirements for battery manufacturers."

You can view the latest investor presentation here .

Westwater Resources (NYSE: WWR )

Westwater Resources Inc. is developing an advanced battery graphite business in Alabama. The Coosa Graphite Plant (2023 production start) plans to source natural graphite initially from non-China suppliers and then from the USA from 2028.

On August 15, Westwater Resources Inc. announced : "Westwater Resources announces Q2 2023 business and financial updates." Highlights include:

• "Net cash used in operations increased $3.0 million during the first half of 2023, compared to the same period in 2022.....
• Net cash used in investing activities increased $27.0 million during the first half of 2023, compared to the same period of 2022. The increase in investing cash outflows is due to continued construction of the initial phase of the Kellyton Plant.....
• Consolidated net loss for the second quarter of 2023 increased $0.4 million compared to second quarter of 2022. The increase in net loss was due primarily to higher product development costs during the period; partially offset by higher interest income earned on our cash balance.
• Cash and working capital as of June 30, 2023, were $17.3 million and $11.8 million, respectively, compared to $75.2 million and $51.0 million at December 31, 2022. The decrease in cash was primarily due to capital expenditures of $51.9 million and cash used in operations of $8.9 million; partially offset by cash provided from financing activities....."

You can view the latest investor presentation here .

Magnis Energy Technologies Ltd [ASX:MNS] ( MNSEF )

Magnis is an Australian based company that has rapidly moved into battery technology and is planning to become one of the world's largest manufacturers of lithium-ion battery cells. Magnis has a world class graphite deposit in Tanzania known as the Nachu Graphite Project.

On July 28, Magnis Energy Technologies Ltd. announced : "Quarterly report for quarter ending June 2023." Highlights include:

• "Batteries produced by iM3NY achieve UN/DOT 38.3 certification.
• Magnis equitable interest in iM3NY increased to 73%.
• iM3NY signs Joint Venture Agreement with Omega Seiki Mobility.
• Letter of Intent (LOI) signed for AAM site location along with services contract awarded to Worley.
• Recent results highlight the superior performance of anode product using Nachu Graphite.
• Resettlement Village handover nearing completion with minor infrastructure work remaining.
• Framework Agreement expected to be finalised soon."

On August 24, Magnis Energy Technologies Ltd. announced :

ASIC Supplementary Submission to Senate Inquiry.....ASIC concluded its investigation into Magnis in November 2022 publicly stating there was no further action to be taken. ASIC also noted there was no direct evidence of the allegations made, and no identification of any harm to investors.

Black Rock Mining [ASX:BKT]

No news for the month.

Nouveau Monde Graphite [TSXV:NOU] (OTCQX:NMGRF) (NYSE: NMG ) and Mason Graphite [TSXV:LLG] [GR:M01] ( OTCQX:MGPHF )

Nouveau Monde Graphite ("NMG") own the Matawinie Graphite Project, located in the municipality of Saint-Michel-des-Saints, approximately 150 km north of Montreal, Canada. NMG (51%) and Mason Graphite (49%) have agreed to JV (subject to approvals) on the Lac Guéret Project.

On August 11, Nouveau Monde Graphite announced : "NMG provides a quarterly operational update: Intense commercial engagement to secure a robust foundation for growth." Highlights include:

• "...... Continuous progress on defining technical and commercial parameters for a long-term agreement with Panasonic Energy on the back of the MoU offtake.
• Advancement of parallel commercial discussions with a few selected tier-1 battery and EV manufacturers for other potential offtake agreements.
• Continued extensive testing at NMG’s Phase-1 plants in close collaboration with potential customers’ technical teams to address process efficiency and challenges, help refine plans for Phase-2 facilities, and reduce risks ahead of commercial operations.
• Definitive agreements signed with Caterpillar to collaborate on technology development, testing, and procurement of all-electric fleet and infrastructure for the Phase-2 Matawinie Mine, plus opportunities for NMG to supply carbon-neutral graphite materials to Caterpillar for its sustainable battery supply chain.
• Underwritten public financing of US $22 million in support of the advancement of the Matawinie Mine and Bécancour Battery Material Plant towards the final investment decision and project financing.
• Advanced discussions with multiple governmental agencies and programs to optimize and lower the cost of the targeted capital structure for the project financing.
• Downward pressure on FOB-China prices of all key battery materials with expected correction as EV adoption growth continues and forecasted global production of lithium-ion batteries now reaches 8,930 GWh by 2030 (Benchmark Mineral Intelligence, July 2023)......
• Period-end cash position of CA$59.8 million."

You can view the latest investor presentation here .

Greenwing Resources Limited [ASX:GW1] ( BSSMF )

On July 31, Greenwing Resources Limited announced : "Quarterly activities report – June 2023 quarter." Highlights include:

Graphmada Graphite Mining Complex, Madagascar

• "A revised Mining Code passed through both houses of the Madagascan Parliament.
• Study activities continued using the updated Graphmada Mineral Resource (61.9 million tonnes ((MT)) at 4.5% Fixed Carbon ((FC)))."

Corporate

• "Equity Raising completed by way of a placement at $0.225 raising $2.7 million.
• Additional $1 million debt facility provided by the Company’s Chairman Rick Anthon.
• Approximately 68% of holders of Convertible Notes have converted their Notes into shares with incentives issued to the Noteholders who elected to convert to shares. Approximately 32% of Noteholders will have their Notes redeemed.
• Security over the assets of the Company to be released.
• Financial restructure sees Greenwing emerge with no secured debt and approximately A$9.5 million in cash.
• Resignation of CEO, executive search commenced.
• Extensive engagement conducted across investor market."

On August 16, Greenwing Resources Limited announced : "Drilling progress report San Jorge Lithium Project, Argentina – brine intersected from 30m."

You can view the latest company presentation here .

Triton Minerals [ASX:TON][GR:1TG]

Triton Minerals Ltd. engages in the acquisition, exploration and development of areas that are highly prospective for gold, graphite and other minerals. The company was founded on March 28, 2006 and is headquartered in West Perth, Australia. Triton has two large graphite projects in Mozambique, not far from Syrah Resources Balama project.

No news for the month.

You can view the latest investor presentation here and the latest article on Trend Investing here .

SRG Mining Inc. [TSXV:SRG] [GR:18Y] [Formerly SRG Graphite Inc.]

SRG is focused on developing the Lola graphite deposit, which is located in the Republic of Guinea, West Africa. The Lola Graphite occurrence has a prospective surface outline of 3.22 km2 of continuous graphitic gneiss, one of the largest graphitic surface areas in the world. SRG owns 100% of the Lola Graphite Project.

No news for the month.

You can view the latest investor presentation here .

Leading Edge Materials [TSXV:LEM] ( LEMIF )

Leading Edge Materials Corp. is a Canadian company focused on becoming a sustainable supplier of a range of critical materials. Leading Edge Materials’ flagship asset is the Woxna Graphite Project and processing plant in central Sweden. The company also owns the Norra Karr REE project, and the 51% of the Bihor Sud Nickel-Cobalt exploration stage project in Romania.

On August 23, Leading Edge Materials announced : "Leading Edge Materials announces closing of C$2,500,000 non-brokered private placement....."

Investors can view the latest company presentation here .

Renascor Resources [ASX:RNU](RSNUF)

Renascor Resources Ltd. is an Australian exploration company, which focuses on the discovery and development of economically viable deposits containing uranium, gold, copper, and associated minerals. Its projects include graphite, copper, precious metals, and uranium.

On July 31, Renascor Resources announced :

Quarterly activities report for the period ended 30 June 2023..... Renascor’s cash position as of 30 June 2023 was approximately A$129 million.

On August 8, Renascor Resources announced : "Siviour battery anode material study results. Renascor’s Siviour BAM Project confirmed as low-cost, high value supplier of 100% Australian-made graphite for lithium-ion battery anodes." Highlights include:

• "Robust economics: Optimised Battery Anode Material [BAM] Study confirms compelling economics of Renascor’s vertically integrated graphite mine and downstream Purified Spherical Graphite [PSG] facility entirely in South Australia (the BAM Project). Post-tax unleveraged NPV10 of A$1.5 billion. Post-tax unleveraged IRR of 26%. Average annual EBITDA of A$363 million.
• World-class, low-OPEX project: State-of-the-art BAM Project delivers globally competitive estimated PSG gross operating cost of US$1,782 per tonne over the first 10 years and US$1,846 per tonne over 40-year mine life (LOM), including Graphite Concentrate operating cost of US$405 per tonne over first 10 years and US$472 per tonne over LOM.
• Start-up CAPEX from existing cash and debt: Estimated capital requirement for initial upstream operation of A$214.5 million is expected to be funded via Renascor’s existing cash balance (A$129 million as at 30 June 2023) and debt facilities.
• Phased development strategy aligns downstream start-up with PSG market: Phased development plan, commencing with production of Graphite Concentrate before shifting to PSG, is designed to align with graphite market demand and to reduce execution risk prior to the initial downstream capital requirement of A$394.6 million.
• Funding sources: The Australian Government, through its Critical Minerals Facility, has conditionally approved a loan facility of A$185 million for the development of the BAM Project. In addition, Renascor is progressing discussions with Export Finance Australia ((EFA)), the Clean Energy Finance Corporation [CEFC] and commercial lenders. Renascor has also commenced discussions with potential project partners, including potential offtakers, regarding equity investments to help further meet the BAM Project’s capital requirements.
• Alignment with offtakers: Phased production of Graphite Concentrates and PSG aligns with positive feedback from anode manufacturers seeking to diversify supply of graphite with secure supply from low-risk mining jurisdictions. Potential offtake partners include POSCO and Mitsubishi Chemical, each of which have entered into non-binding strategic cooperation and offtake agreements with Renascor.
• Next steps: Renascor’s next immediate steps include securing binding offtake agreements, concluding lender due diligence and commencing early contractor involvement."

On August 10, Renascor Resources announced :

Licensing agreement for Downstream Purification Process. Optimised purification process delivers operating efficiencies in production of battery grade Purified Spherical Graphite.....

On August 24, Renascor Resources announced : "Updated Mineral Ore Reserve Estimate for Siviour. Siviour confirmed as the largest Ore Reserve of graphite outside of Africa and the second largest Proven Reserve of graphite in the world." Highlights include:

• "Updated Ore Reserve for Renascor’s 100%-owned Siviour Graphite Project in South Australia confirms Siviour as the largest reported total Ore Reserve of graphite outside of Africa and the second largest reported Proven Reserve of graphite in the world.
• The updated Ore Reserve estimate for the Siviour Project includes: Proven Reserves of 16.8Mt at 8.2% total graphitic carbon ((TGC)) for 1.4Mt of contained graphite. Probable Reserves of 45.0Mt at 6.6% TGC for 3.0Mt of contained graphite. Total Reserves of 61.8Mt at 7.0% TGC for 4.3Mt of contained graphite.
• The expanded Ore Reserve estimate includes a 13% increase in total Reserves and an 8% increase in Proven Reserves2 and provides additional confidence in the size and quality of the Siviour deposit as a consistent source of high-quality graphite supporting a life of mine (LOM) of 40+ years.
• Renascor’s recently completed Battery Anode Material Study (BAM Study), which was used as the basis for the updated Ore Reserve, estimates the Siviour ore body can deliver a globally competitive gross operating cost for Purified Spherical Graphite of US$1,782 per tonne over the first 10 years and US$1,846 per tonne over LOM, including Graphite Concentrate operating cost of US$405 per tonne over first 10 years and US$472 per tonne over LOM."

You can view the latest investor presentation here .

EcoGraf Limited [ASX:EGR] [FSE:FMK] ( ECGFF )

On July 31, EcoGraf Limited announced : "Epanko Special Mining Licence. 87% increase in strike length of graphite unit." Highlights include:

"The existing Epanko ML remains active, allowing all necessary pre-development activities to continue. The benefit of the new SML includes:

• "Mining tenure increased to 50 years.
• Expansion of mining tenure to 18.9 km2 and covering the strike extension of the graphite unit - an 87% increase in the strike length covered by new mining tenure."

On July 31, EcoGraf Limited announced : "June quarterly activities report.....Cash and deposits as at 30 June 2023 of $38.6m."

On August 14, EcoGraf Limited announced :

EcoGraf Australian patent application. EcoGraf Limited (EcoGraf or the Company) (ASX:EGR; FSE:FMK; OTCQX:ECGFF) has been made aware of an ASX announcement by Renascor Resources Limited (ASX:RNU) (Renascor) dated 10 August 2023 in which Renascor states “As reported in April 2022, Renascor lodged an opposition to a pending patent application relating to the purification of graphite. Renascor considers the pending patent application to be overly broad and relating to processing procedures that are not sufficiently novel or inventive to merit patent protection.” EcoGraf understands that the patent application referred to by Renascor in that announcement is the same patent application made by EcoGraf and referred to in its ASX announcement dated 8 November 2021.

You can view the latest investor presentation here .

Lomiko Metals Inc. [TSXV:LMR] ( LMRMF )

Lomiko has two projects in Canada - La Loutre graphite Project (flagship) (100% interest) and the Bourier lithium Project (70% earn in interest).

On August 2, Lomiko Metals Inc. announced : "Private placement update..... successful in raising $401,000......"

Metals Australia [ASX:MLS]

On July 31, Metals Australia announced : "Quarterly activities report for the quarter ended 30 June 2023." Highlights include:

Lac Rainy Graphite Project, Quebec, Canada

• "Electrochemical (battery charging and durability) tests1 confirmed that Lac Rainy battery grade (99.96% graphitic carbon – Cg2) spherical graphite is premium-quality lithium-ion battery anode material.
• The test results confirmed that the spherical graphite [SPG] from the Lac Rainy Project has: Very high energy storage capacity of 360mAh/g (high-level for un-coated SpG). Excellent discharging performance (delithiation) at very high discharge rates. Very high stability and durability after multiple (47) charging/discharging cycles.
• Following the outstanding battery test results, the Company look to upgrade the project from scoping to a pre-feasibility study [PFS] into developing flake-graphite production from the Lac Rainy Graphite Project. Premium spherical graphite production will also be investigated.
• A major trenching and drilling program is also set to commence to expand the Lac Rainy resource, with less than 10% of the graphite trends identified having been drill tested."

On August 25, Metals Australia announced : "Response to ASX price query....."

NGX Limited (100% owned subsidiary of Sovereign Metals [ASX:SVM] [GR:SVM][LSE:SVML])

On July 28, Sovereign Metals announced : "June 2023 quarterly report." Highlights include:

Rio Tinto invests $40.4m to become a 15% Strategic Investor

• "Subsequent to the end of the quarter, Rio Tinto made an investment of A$40.4 million in Sovereign resulting in an initial 15% shareholding plus options to increase their position to potentially 19.99% within 12 months
• Investment proceeds will be used to advance the Kasiya Rutile-Graphite Project (Kasiya) in Malawi.
• ......Rio Tinto will provide assistance and advice on technical and marketing aspects of Kasiya including with respect to Sovereign’s graphite co-product, with a primary focus on spherical purified graphite for the lithium-ion battery anode market."

"Government of Malawi publicly applauds Rio Tinto’s Investment......

Kasiya Rutile-Graphite Project PFS targeting completion this Quarter

• "Sovereign is in the advanced stages of the Pre-Feasibility Study [PFS] for Kasiya, a potential industry-leading major source of critical raw materials from Malawi.
• Kasiya aims to be one of the world’s largest and lowest cost producers of natural rutile and natural graphite with a carbon-footprint substantially lower than other current and planned producers.

Downstream Testwork on Kasiya’s Graphite shows Excellent Suitability for use in Lithium-Ion Batteries....Above benchmark >99.95% carbon purity achieved. No critical impurities or deleterious elements commonly found in other natural graphite sources."

• "Bulk sample program commenced to produce larger volumes of rutile and graphite from Kasiya. Samples to be used for downstream testwork and product qualification for the lithium-ion battery sector."

You can view the latest investor presentation here .

Sarytogan Graphite [ASX:SGA]

Sarytogan Graphite has an Indicated and Inferred Mineral Resource of 229Mt @ 28.9% TGC in Central Kazakhstan.

On August 16, Sarytogan Graphite announced : "Bulk test now running with improved flotation metrics." Highlights include:

• "....A bench scale test on this sample achieved a concentrate grade of 85.1% TGC at 76.6% recovery, an improvement on previous even higher head-grade samples.
• Significant operational improvements realised including the use of readily available diesel as a collector and the halving of the number of regrinding and cleaner stages applied.
• Downstream purification, spheroidization and battery testing ordered with multiple labs worldwide, each set to receive 3-5kg each of bulk flotation concentrate."

On August 28, Sarytogan Graphite announced : "....Thermal purification of Sarytogan Graphite achieved 99.99% Total Graphitic Carbon ((TGC))."

Evion Group NL [ASX:EVG] - (Formerly BlackEarth Minerals [ASX:BEM])

On July 28, Evion Group NL announced : "Quarterly activities/appendix 5B cash flow report....."

For further details see:

Graphite Miners News For The Month Of August 2023