Bass eyes higher graphite sales in September quarter
Perth-based graphite developer Bass Metals expects to increase its graphite sales by around 30pc in the September quarter, after they rose by 94pc in the June quarter.
The company continues to ramp up production at its Graphmada mine in Madagascar, which achieved sales of 783t of graphite concentrate in the June quarter. The expectation for the September quarter is for sales to exceed 1,000t, with forward sales of 389t already arranged.
A total of 137,000t of ore was mined during the June quarter, resulting in 32,000t being processed to produce 1,005 wet metric tonnes of graphite concentrate grading 94pc fixed carbon, the recognised industry benchmark for premium graphite concentrate for flake size graphite greater than 180 microns.
Bass, which recently added an Indian sales agreement to other international agreements, has forecast that production and sales will increase in the September quarter, along with the continuation of an exploration programme aimed at significantly upgrading the Grahmada mineral resource and surrounding area resources.
"With substantially improved production, sales and revenue, our team is now looking to the next quarter to once again improve and grow our business to become a globally significant producer of high-value, large flake graphite concentrate and downstream products," chief executive Tim McManus said.
Tanzania, Mozambique and Madagascar have over the two years become the most important graphite developing locations in the world outside of China with several projects in production, construction-ready or awaiting mining licence and finance approvals.
source: Argus Media
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