Alba Mineral Resources PLC - mineral exploration and development company with assets in Greenland and the UK - Independent testwork programme on material from Amitsoq graphite project in southern Greenland confirms suitability of graphite for lithium-ion batteries. Says graphite from Amitsoq asset can be floated to grades above 95% and Alkaline purification "achieves a carbon level of above 99.95%".
Alba Executive Chairman George Frangeskides commented: "Our test work programme at Pro Graphite in Germany, which has now concluded, has achieved our objectives. We can now move forward with our plans to define a large-tonnage deposit at Amitsoq in the knowledge that our graphite not only has exceptionally high average grades but is also battery grade material which can be sold into the electric vehicle sector, which is by far the largest growth market for graphite."
Current stock price: 0.32 pence; up 16% on Wednesday.
Year-to-date change: down 42%
By Will Paige; willpaige@alliancenews.com
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Alba Mineral Resources (ALBA)