BKT advances Mahenge graphite project, appoints engineering contractor
This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. FinFeed advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.
Tanzanian graphite developer Black Rock Mining (ASX:BKT) this morning announced it had appointed CPC Project Design as the engineering contractor for the Definitive Feasibility Study (DFS) at its 100%-owned Mahenge Graphite Project.
CPC Project Design is a leading mid-tier Perth based engineering company with extensive graphite and Africa experience. The group was selected by BKT after a detailed tender process covering five bidders.
The DFS is scheduled for completion in the second half of 2018 with the engineering study commencing in early January. This will enable the company to meet its timeline of commencing production by late 2019. Yet the full completion and delivery of the study is subject to and conditional upon Tanzania putting in place its new mining code and regulations.
The scope of the study is for the first module of Ulanzi, Mahenge and associated infrastructure.
However it is an early stage of this company’s development and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.
BKT’s Executive Director and CEO John de Vries commented: “We are commencing work on delivering the Definitive Feasibility Study, having recommenced drilling, and now commencing the engineering component of the Study. Securing the services of CPC Project Design is important, as they bring highly valued experience given their involvement in Syrah’s Balama Project, a wealth of recent graphite and African experience, coupled to the can-do approach of a mid-tier firm.
“We are increasingly confident that we will see legislative clarification from the Tanzanian Government in the not too distant future, and are positioning the company to progress the Mahenge Project to deliver a Definitive Feasibility Study in the second half of CY2018.
“With our Mahenge Graphite Project having costs within the lowest quartile costs and importantly a premium high-grade product, we think we have the best undeveloped graphite project in the world, and remain committed to developing it.”
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Longhou Capital Markets Pty Ltd (AFSL No. 292464). 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.
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.