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Tirupati Graphite PLC (LSE:TGR,OTCQX:TGRHF) joint managing director Puruvi Poddar joinsProactive's Stephen Gunnion with details of an explorationprogramme at the company's flake graphite projects inMadagascar.
The programme, differingfrom prior approaches, involved over 5,000 diamond core drill coresand more than 25,000 auger drills. SRK Consulting has visited the siteto compile data for an updated Competent Persons Report (CPR), markingcontinuous exploration efforts over the last three years.
Poddar also touched on the global graphitemarket, highlighting the restrictions on graphite exports from China.These restrictions have intensified demand for graphite worldwide,underscoring its importance as a critical material.
She said Tirupati Graphite is uniquelypositioned as one of the few significant graphite producers outsideChina, with operations in Mozambique and Madagascar. This strategicposition is poised to benefit from the growing demand for graphite,especially from the battery sector, with anticipated increases ingraphite prices and demand.
Despitechallenges, including a working capital gap partly due to delayedfunds from the Madagascan government, the company remains optimisticabout its ability to meet future demand and achieve its immediate goalof becoming EBITDA positive.
Poddar said TirupatiGraphite's capacity to produce 1,500 to 1,600 tonnes of graphiteper month and established market presence underscore its potential inthe rapidly evolving graphite market.
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