13th Aug 2024 19:36
Tirupati Graphite PLC - London-based flake graphite supplier with projects in Madagascar and Mozambique - Says full scale mining operations commenced at Vatomina from July 28, following successful delivery of fuel and other supplies the day before. Processing operations at Vatomina commenced from August 2, following building up of threshold feed stock at the ore pads of the two pre concentrate units. Minor issues were addressed between August 2 to 6, during which 59 tons of more than 96% grade flake graphite was produced and head grade met the target of 3%. Says steady state production has been ongoing since August 6, with production of 165 tons in seven consecutive working days. Remains confident that it is well positioned to achieve the 8,000 tons per annum production run rate from Vatomina, subject to there being no disruptions or inefficiencies caused by financial limitations. Says 140 tons finished product has been shipped up to August 10, while 240 tons are in the process of being shipped. The company's target of greater than 600 tons shipped in August 2024 remains on track.
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12-month change: down 78%
By Jeremy Cutler, Alliance News reporter
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