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Battery Minerals Ltd.
Summary
| Project: | Montepuez | |
|---|---|---|
| Deposit: | Montepuez | |
| Location: | Mozambique | |
| Commodities: | Graphite | |
| Date: | 10/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-10-2017: Battery Minerals Ltd. announces a Optimisation Study report for its Montepuez deposit at the Montepuez project. Value Engineering Study results incl. reduced Capex, Opex and payback period from DFS. Battery Minerals (ASX Code: BAT) is pleased | |
| Resources: | (Reserve, Prob.): 41.4Mt @ 8.80% TGC for 3.64Mt of flake product (4% TGC Cut-off) at project | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Battery Minerals (ASX Code: BAT) is pleased to advise that a value engineering study has been completed by the Company and that a restructure of its Montepuez Graphite Project in Mozambique will result in the development generating outstanding financial returns. The study questioned every key financial and operational assumption contained in the Montepuez Definitive Feasibility Study, which was released in February (see ASX release dated February 15, 2017). The value engineering study, which was commissioned May this year, found Montepuez would enjoy extremely strong economics if a series of key operating changes were adopted. The study found that the project’s capital cost could be slashed from US$126M to just US$42.3M and operating costs could be cut from US$422/t to US$337/t. These substantial cost reductions would stem from a combination of a staged production ramp up, smaller infrastructure footprint, a refined mine plan producing a higher head grade, adopting an owner-operator mining strategy, lower water consumption and increased recoveries supported by additional metallurgical and processing test work. Graphite is the dominant anode material used in manufacturing re-chargeable lithium ion batteries (LiB). With ever increasing momentum around LiB’s and electric vehicles, this is unlikely to change in the medium term. Battery Minerals remains focused on becoming a significant provider of ethically-produced, high-quality material for this market. | |
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