Tidy RNS ... Updated Mine Plan Materially Increases Production12 May 2020 11:07
Highlights
Completion of an updated Mine Schedule using a higher-grade cut off of 9% Total Graphitic Carbon (‘TGC’), a higher strip ratio of 1.95:1, revised expansion schedule and includes a proportion of high-grade Inferred material
30% increase in average annual production of large flake high-purity graphite to 109ktpa compared to recently completed DFS
Higher overall production from increased cut off of 9% TGC will materially increase annual production and has potential to significantly increase the US$358 million project NPV with minimal impact on the capex
A higher-grade cut off is expected to allow the Company to maximise initial production and build lower grade stockpiles in subsequent years
Updated Feasibility Study based on updated Mine Schedule anticipated by the end of May
Production profile planned to take advantage of increasing demand for graphite as the Electric Vehicle market rapidly expands