29th Jun 2021 13:45
Tirupati Graphite PLC - graphite and graphene producer in Madagascar and India - Intends to increase capacity at its Sahamamy and Vatomina projects. Says it plans to up capacity to 12,000 tonnes per annum immediately. Aims to reach 30,000 tonnes per annum in the first quarter of 2022 and ultimately 84,000 tonnes per annum by 2024.
Says Vatomina project on track up production to 9,000 tonnes per annum in the next three weeks. At the larger Sahamamy project, Tirupati plans to develop a second module capable of producing 18,000 tonnes each year, bringing capacity up to 21,000 tonnes per annum by early 2022. Continues construction of 100 kilowatt hydropower plant, with plans to install a further 900 kilowatt in capacity, to meet power requirements for planned output.
Advances second stage exploration at both projects to asses current mineral resources and outline new mineralised areas including diamond core drilling of around 900 metres and 4,500 metres of augur drilling, alongside 31 test pits across both projects.
Current stock price: 132.30 pence, down 0.5% on Tuesday afternoon
Year-to-date change: up sharply from 65.00p
By Scarlett Butler; [email protected]
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