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Black Rock completes full form offtake agreements

for large flake graphite concentrate

HIGHLIGHTS

• Black Rock has executed full form offtake agreements for large flake graphite

concentrate with two key customers:

– Muhui International Trade (Dalian) Co. Ltd (Muhui); and

– Qingdao Yujinxi New Material Co. Ltd (Qinqdao)

• Key terms of the two Offtake Agreements:

– Supply of 15ktpa of large flake concentrate (>+100 mesh) under each offtake

contract (for a total of 30ktpa)

– Buyers option to purchase an additional 10ktpa of any uncontracted volume

under each offtake contract (for a total additional volume of 20ktpa)

– Initial three (3) year term, extendable by two (2) years at the buyers option

– Price indexed to published indices, RefWin and ICCSino

Tanzanian graphite developer Black Rock Mining Limited (ASX: BKT) (Black Rock, BKT or the Company) is

pleased to announce that it’s 84%-owned subsidiary, Faru Graphite Corporation (Faru) has signed two full form

offtake agreements (Offtake Agreements) with key customers, Muhui and Qingdao for large flake graphite

concentrate production from the Mahenge Graphite Project (Mahenge or the Project).

Full Form Offtake Agreements Completed

Further to the Term Sheets announced on 13 August 2021, Faru has signed full form Offtake Agreements with

key customers, Muhui and Qingdao for large flake graphite concentrate as per the terms summarised below.

Table 1 – Key terms for full form Offtake Agreements

Link -

https://blackrockmining.com.au/wp-content/uploads/BKTCompletesOfftakeAgreementsForLargeFlakeGraphite27Jun24.pdf

Link

http://armadalecapitalplc.com/wp-content/uploads/2024/06/Armadale-Capital-Presentation-Canyon-Silver-Mine-Final.pdf

0–150 g/t silver is low grade. 150–350 g/t silver is average grade. Over 350 g/t silver is high grade. Silver measured in kilos per tonne is “bonanza” grade.

Acp samples -

Shaft 2 returned 412g/t silver

Shaft 3 returned 1010g/t silver

As well as 18% lead

These are exceptional grades indeed, 1010g/t silver sample from shaft 3.

Https://www.londonstockexchange.com/news-article/ACP/mahenge-graphite-update/16483457

With America imposing new much tougher tariffs yesterday, this should help Blackrock get fdi over the line as some urgency now, China won't be happy at all, Chinese graphite exports are already restricted so they might go further too, tit for tat breaking out.

Https://www.theguardian.com/business/article/2024/may/14/joe-biden-tariff-chinese-made-electric-vehicles

Biden announces 100% tariff on Chinese-made electric vehicles

White House levy to protect US makers from cheap imports likely to inflame trade tensions.

The tariff rate on natural graphite will increase from zero to 25% in 2026.

This is just coming out today from US gvment, they finally waking up to China dominance in critical metals.

This is brilliant news for graphite.

Also worth noting its natural only natural graphite they are hitting with tariffs, not synthetic.

Looking at 2 year price chart silver price was as low as $18oz its over $28oz now.

.

Gold has risen hugely & it tends to pull silver up along with it .

Also along with the silver ore there's zinc & lead coming out of the area. This could be a great investment with silver price steadily moving higher.

Matt bull is a geologist, seems pretty determined to get this silver/zinc project going.

From a quick Google

0–150 g/t silver is low grade. 150–350 g/t silver is average grade. Over 350 g/t silver is high grade. Silver measured in kilos per tonne is “bonanza” grade.

The rns mentioned this -

Three 25t truck loads averaged.

●     36 oz/t Ag, 66% Pb and 10% Zn

One 25t truck load averaged.

●     50% Zn, 8 oz/t Ag, and 8% Pb.

3So 36oz = 1020g (3 truckload samples)

Which is a very good grade figure indeed.

Exactly.

When the derampers turn up it's time to buy.

Also very significant is gold & silver prices having some big moves this year. Gold was at all time high a couple of weeks ago which tends to pull the silver price up with it.

Sounds very promising.

"The board believes that the Canyon Silver transaction creates a significant opportunity for Armadale in a safe and proven geographic, legislative and perhaps most of all a rich and proven geologic area of North America. Industries using silver, lead and zinc are well known and continuing to grow with exciting demand fundamentals. Concurrently, the silver, lead and zinc producing areas of North America have been in hibernation or shrinking since the early 1980's until now. Today they are turning to growth, with America's focus on local production and refining of these core strategic metals for energy and related technology. In addition, silver is invaluable in solar panels, certain batteries and electronic components and always as an alternative and complimentary money and store of value alongside gold."

Comparison -

Blackrock IRR is 36 percent

Blackrock TGC (total graphite content) 7.8 percent

Module 1 Capex $225 million

- - - -

Armadale Capital IRR 91 percent

Armadale Capital TGC (total graphite

content) 9.8 percent

Capex $40 million

Acp is tremendous value, a no brainer.

Armadale up 30 percent.

Gone NT to buy.

Blackrock mining $113ml loan approval

https://twitter.com/BlackRockMining/status/1768425074066165836?t=01DkzgtSUUnlFNNHwIOhlQ&s=19

Good volume of shares going through again.

Https://smallcaps.com.au/syrah-resources-global-move-away-chinese-battery-metals-posco-deal/

Blackrock finace & term sheet is about to drop, the ceo said so himself at the indaba conference interview just this month.

This then will be the springboard for acp & launch Mpokoto as viable graphite hub.