Armadale Capital accelerating plans to develop Tanzania graphite project
Source - SMW
Armadale Capital said it was accelerating plans to commercialise its Mahenge Liandu graphite project in Tanzania ahead of an anticipated completion of a definitive feasibility study in the fourth quarter.
Key meetings with current and prospective Chinese off-take and project finance partners were scheduled for early June.
The intention was to progress with binding agreements as part of the accelerated commercialisation plans, the company said.
'Looking beyond the completion of the DFS, which is targeted for year-end, the board is now focused on fast-tracking the various work streams critical to bringing the Mahenge Liandu graphite project into commercial production,' director Nick Johansen said.
At 1:16pm: (LON:ACP) Armadale Capital PLC share price was +0.05p at 1.2p