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BlackEarth Minerals Commences Maniry Graphite Fines Scoping Study

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THE DRILL SERGEANT: BlackEarth Minerals (ASX: BEM) has started a Scoping Study on building a plant to process graphite from its Maniry project in Madagascar.

BlackEarth Minerals explained the study hopes to confirm the commercial viability of processing fines from its Maniry graphite project into Battery Anode Material (BAM).

The BAM Study will assess the viability of building a manufacturing plant which will produce the spheronised and purified graphite that will be required for lithium batteries, in Europe where demand for BAM is expected to greatly increase.

The company believes the BAM plant will potentially add value to Maniry fines, which up to now it has planned to sell as a raw product to processors.

Preliminary studies carried out by BlackEarth concluded the BAM could sell for approx. US$3500 per tonne compared with approx. US$850 per tonne for the concentrate fines.

“We believe there is an exceptional opportunity to become a vital supplier to the lithium battery industry by processing Maniry fines into BAM,” BlackEarth Managing Director Tom Revy said in the company’s ASX announcement.

“This would allow us to sell a portion of our fines for around four times the price we would realise by selling them as a raw product to others to process into BAM.

“By becoming vertically integrated in this manner, we stand to substantially increase our revenues, margins and free cashflow while becoming an integral part of the booming lithium battery industry in Europe.

“The BAM strategy is designed to provide valuable income diversity and increased overall financial returns from Maniry.

“At the same time, we will proceed as planned with our strategy to process our coarse graphite via our joint venture in India for sale of expandable graphite into Europe next year.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Web: www.blackearthminerals.com.au

 

BlackEarth Minerals Reports High-Grade Mineral Resources

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THE DRILL SERGEANT: BlackEarth Minerals (ASX: BEM) announced an increase to the graphite inventory, by both tonnes and grade at the company’s 100 per cent-owned Maniry graphite project in Southern Madagascar.

BlackEarth Minerals explained the increase came via completion of an upgraded JORC Code-compliant Mineral Resource estimation for the Razafy Northwest (NW) graphite deposit consisting of an Indicated and Inferred Mineral Resource of 5.3 million tonnes at 8.5 per cent total graphitic carbon (TGC) at a 3 per cent TGC cut-off grade for 452,000 tonnes of contained graphite.

The majority of the Mineral Resource, 3.1 million tonnes at 8.6 per cent TGC for 266,000 tonnes contained graphite has been classified in the higher confidence Indicated classification, with the remainder classified as Inferred.

Total Mineral Resources for the Maniry project now stand at 40 million tonnes at 6.5 per cent TGC for approx. 2.7 million tonnes contained graphite.

“We have again added both grade and tonnes to our Maniry graphite inventory,” BlackEarth Minerals managing director Tom Revy said in the company’s ASX announcement.

“The current plan within the DFS is to run the first stage (years 1-3) of the project using high-grade feed material sourced from Razafy NW.

“The more we explore in the area, the more we are excited about the real potential of the area and the value enhancement it can ultimately bring to our Maniry graphite project.

“The current resources at the project are within an exploration target of 260-280 million tonnes of TGC.

“We will continue to invest in exploration in the future to continually grow our resource base and demonstrate the true potential of this project.

“Since listing the company in January 2018, we have developed a resource base of over 40 million tonnes from zero, and will continue to build on this existing resource.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@blackearthminerals.com.au

 

Web: www.blackearthminerals.com.au

 

BlackEarth Minerals Upgrades Razafy Graphite Resource

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THE DRILL SERGEANT: BlackEarth Minerals (ASX: BEM) announced an increase to the graphite Resource at the company’s 100 per cent-owned Maniry graphite project in Southern Madagascar.

The increase stems from the completion of infill and extension drilling at the project’s Razafy Resource.

The updated Razafy Mineral Resource estimate reported above a 3 per cent total graphitic carbon (TGC) cut-off is as follows:

Indicated Mineral Resource: 13.6 million tonnes at 6.5 per cent TGC
Inferred Mineral Resource: 12.1million tonnes at 5.9 per cent TGC

For a total Indicated + Inferred Mineral Resource of 25.7 million tonnes at 6.2 per cent TGC.

“The success at Maniry of discovering and continual upgrading the Mineral Resources at Maniry is testament to the exceptional potential that exists at the project,” BlackEarth Minerals managing director Tom Revy said in the company’s ASX announcement.

“This updated and expanded Mineral Resource will be incorporated into the current Maniry DFS and has the potential to significantly increase the proposed mine life for Maniry.

“Work continues on the Razafy Northwest area with an updated Mineral Resource expected ahead of the completion of the Maniry DFS.

“All assays from recent drilling in the area have now been received.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@blackearthminerals.com.au

 

Web: www.blackearthminerals.com.au

 

BlackEarth Minerals Inks JV Agreement to Produce Expandable Graphite

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THE BOURSE WHISPERER: BlackEarth Minerals (ASX: BEM) has struck an Operational JV agreement with India-based private company Metachem.

BlackEarth Minerals informed the ASX the JV with Metacheman is determined to commence plant construction and the production of Expandable Graphite with planning already underway on site selection, executive recruitment and scheduling for other logistics and development matters.

The JV has eyes on the expandable graphite market, which it said is expected to grow in demand as fire retardant material and for further downstream use in the automotive, EV and alternative energy sectors.

The BlackEarth and Metachem JV plans to supply a material portion of all imports of expandable graphite into Europe – expansion plans being initiated to capture a greater share of worldwide demand.

Key elements of the JV are:

1. BlackEarth are to source, in conjunction with its Sales and Marketing partner LuxCarbon, high-quality graphite concentrate for treatment for the new expandable graphite plant;

2. Following completion of its own plant, BlackEarth will provide large and jumbo flake graphite to the JV;

3. Each JV partner proposes a 50/50 equity and profit share arrangement with CAPEX estimated to be US$3 to 3.5 million in total;

4. BlackEarth and LuxCarbon to provide end user and product technical advice to the Metachem operational team;

5. BlackEarth will manage sales, marketing and the growth of sales worldwide;

6. Estimated initial production to be 2,000 – 2,500 tonnes per annum growing to 4,000tpa, with plans to materially grow production;

7. BlackEarth estimates Gross JV Revenue of $9 million per annum in the first year, growing to approx. $17 million – upon production ramp up to 4,000tpa;

8. Production sites have been identified and appropriate economic, social and environmental conditions have initially been assessed as highly favourable. A decision on a preferred site within the Indian Special Economic Zone (“SEZ”) will be concluded in the short term; and

9. Company names and branding is currently being prepared with a detailed announcement due in the short term.

“The signing of this JV is an exciting development in the growth of our Company,” BlackEarth Minerals managing director Tom Revy said in the company’s ASX announcement.

“To form this JV with a world leader of Expandable Graphite production is a wonderful outcome and this event follows many months of discussions between the executive teams our two companies.

“Now that we have signed off on this JV, we will shortly move to our preferred site in India and also conclude the recruitment of senior executives in India to manage the planning, construction and development phase.

“Having an offtake partner prepared to buy all initial production has also given us confidence to move forward with plant expansion plans so that we can increase production and sales over the medium term, whilst minimising operational risk.

“With first year sales projected to be almost $9 million for the JV, we expect to start receiving a steady and strong cash flow during 2022 which will also contribute to the planned development of our Maniry site in Madagascar; consistent with our initial fast-track to cash flow strategy.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@blackearthminerals.com.au

 

Web: www.blackearthminerals.com.au

 

BlackEarth Minerals Extends High-Grade Drilling at Razafy Northwest

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THE DRILL SERGEANT: BlackEarth Minerals (ASX: BEM) reported new assay results for the company’s Maniry graphite project in southern Madagascar.

BlackEarth Minerals said high-grade assay results have extended on recently announced high-grade intersections at Razafy Northwest area within the project.

The previously reported intersections have now been extended and include:

32.7 metres at 16.3 per cent total graphitic carbon (TGC) (from 5m), including 15.3m at 25.2 per cent TGC;
39.9m at 9.4 per cent TGC (from 3m) including 16m at 14.12 per cent TGC;
38.2m at 11.9 per cent TGC (from surface); and
25.8m at 12.9 per cent TGC (from 17m).

BlackEarth indicated that final results from the Razafy Northwest drilling campaign are expected to be announced early October.

The results will be used to update the company’s Resource inventory, which is anticipated to be released to the market in Q4, 2021.

“These latest results demonstrate the enormous potential value that exists in the northwest area,” BlackEarth Minerals managing director Tom Revy said in the company’s ASX announcement.

“The increased widths, continuity of high grade and metallurgical results show that the Maniry deposit (which includes the Razafy and Razafy NW areas) is comparable to the best projects in the world.

“Given the project’s sensitivity to feed grade, the results attained to date from the Razafy Northwest area, have the potential to significantly enhance our total project economics.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@blackearthminerals.com.au

 

Web: www.blackearthminerals.com.au