Black Rock Mining (ASX:BKT)
Black Rock Mining (ASX:BKT) is working hard and fast to get its Mahenge Graphite Project into production as soon as feasibly possible.
Early data in the form of an optimised PFS has been positive, but the news that really counts is that BKT is now the resource tonnage leader in Tanzania and has the best grade-quantity mix of any other graphite explorer anywhere in the world.
In fact, the 350km2 Mahenge Project is the fourth largest (JORC compliant), contained graphite resource in the world and it’s now moving from the PFS to the DFS stage.
Its current news flow indicates there is plenty of blue sky for BKT as it looks to improve on its $23 million market cap.
The strength of BKT’s resource was confirmed when recent test results confirmed not only the high-grade nature of its Mahenge Project, but also, a high recharge rate from the pilot-test material BKT has provided for early battery testing.
The Mahenge Project has strongly outperformed a leading commercial brand in extended 300 cycle charge/discharge tests and its most recent results show a 94% recharge rate over the period, outperforming industry standard products.
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Following the receipt of cornerstone funding to the tune of $4.75 million, BKT is fully funded to complete its DFS.
And with a successful DFS and associated financing, construction at Mahenge could commence in 2018 with first production in 2019.