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Triton charge graphite production

6 September 2022 13:37
ASX: TON

Triton Minerals are moving ever closer to near term production from the flagship Ancuabe graphite project — set to bring in $8.5 million and turn vision to reality from Mozambique’s proven Cabo Delgado region.

The capital accelerates ambitions to bring its commercial pilot plant online and produce up to eight thousand tonnes of high-priced graphite concentrate a year.

With offtake secured and graphite growing in critical importance to keep the EV industry moving and diversify supply chains, the company made the call to move to a modular plant, significantly de-risking the project and requiring far less capital to get moving.

Capital it now has in spades, with over $10m in the kitty after a cornerstone $5m investment from Shanghai-listed Shandong Yulong Gold Co and a planned placement to add another $3.5m into the coffers.

And there remains ample opportunity to outgrow its modular boots and move to a large-scale mine and processing plant — churning out a million tonnes a year for 60 thousand tonnes of graphite concentrate to diverse and needy markets over a venerable 27 years of mine life.

The company said backing from Shandong and major share holder Jigao to bring the project to life was just as important as the cash.

“This will ensure the Company capitalises on the green energy transition which has seen demand for graphite continue to build at a rapid rate given its use in batteries for electric vehicles and energy storage as well as significant demand from flame retardant building material sector,” executive director Andrew Frazer said.

Triton aim to bring the plant into production within 18 months from commencement, while moving on discussions over reinstatement of the Nicanda Hill graphite-vanadium project.

TON’s Australian Stock Exchange-listed share price was trading at 2.8c today (12.27 pm UTC+ 8 hours).

 

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