Western Mining Network (ASX: WMN)
Western Mining Network (ASX:WMN) has just confirmed its acquisition of an 8 million tonne JORC graphite resource in South East Asia.
Combined with a provisional off take deal for 50,000 tonnes per year of graphite, 2016 looks set to be a busy one for the company.
WMN is currently working on a Scoping Study to be delivered in Q2 2016, and from there the company is hoping to hit first revenues within the next 12 months.
WMN’s strategic location in Asia sees it perfectly positioned to supply into Asian high tech markets.
Given its connections to high tech South Korean partners, getting its high grade graphite ready for sale should be a simpler task than most.
With a recent $6M placement struck with a cornerstone investor, WMN is well placed to accelerate its development plans in the coming months.
At the same time, WMN is a speculative mining stock – and success here is no guarantee.
With the resources downturn playing whack-a-mole with commodities such as iron ore, copper and oil recently, it may be a good time to have a look at an explorer chasing a commodity that’s all about being part of the future…