Independent tests show expandability and purity of New Energy Minerals’ Caula graphite

By Meagan Evans. Published at Mar 14, 2019, in Small Caps

New Energy Minerals Limited (ASX:NXE | FRA:GGY) has announced the results of the first set of specialised independent tests on its 40% owned Caula Graphite and Vanadium project located in Northern Mozambique.

The independent metallurgical testwork, conducted by German Based NGS Trading and Consulting GmbH (NGS), indicates Caula graphite to be suitable for the production of expandable graphite, spherical graphite and all kinds of other applications including flame retardants and graphite foil.

Two composite samples of graphite concentrate, one from the Oxide Zone and one from the Fresh Zone, were submitted to NGS for purification tests, as well as a full suite of 25 different tests for the preparation of expandable graphite, conducted over a mix of all grain sizes.

Excellent expansion volumes were achieved for all flakes sizes with an average expansion volume of 295 mL/g achieved.

The following results were achieved:

- Expansion volumes of 430 mL/g for +500 micron flakes

- Expansion volumes of 390 mL/g for +300 to -500 micron flakes

- Expansion volumes of 350 mL/g for +180 to -300 micron flakes

Dr Bernard Olivier MD of NXE said, “The specialised independent testwork returned some truly excellent results for the Caula graphite samples and concluded that they could not find any restriction on the application of this type of expandable graphite.

“The report further states that the chemically purified flake graphite qualifies for the production of spherical graphite and all kind of other applications including flame retardants and graphite foil.”

As announced in February, NXE’s remaining 40% ownership in the Caula Graphite and Vanadium project (through its 50% shareholding in Balama Resources Pty Ltd) is currently subject to a Share Sale and Purchase Agreement (SSPA) with Auspicious Virtue Investment Holding Limited.

Balama is the subsidiary company through which New Energy has held its interest in the Caula graphite and vanadium project. Following completion of the SSPA, New Energy will have no further interest in the Caula project.

The proposed capital reduction and distribution to shareholders can only occur after the transaction closes and all condition precedents are met, including shareholder approvals.

It’s expected to take six to eight weeks to seek and obtain approvals from the Mozambique Government. The company is therefore targeting early to mid-June 2019 for the conclusion of the capital reduction and distribution.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!