ACP28 May 2019 08:13
Certainly not one for the short term, but could move today's then put in bottom draw
2018 has seen Armadale make considerable progress advancing Mahenge Liandu towards production in 2021. With the Scoping Study complete, which supported a pre-tax IRR of 122% and an NPV of US$349m, confirming the compelling economics of the Project, work has focussed on the advancement of the DFS and product marketing. In line with this, post period end, we signed our first off-take MOU and discussions are underway with other potential customers. This indication of interest highlights the increased global demand for high-quality graphite products; notably Mahenge Liandu is one of the largest high-grade resources in Tanzania with a high-grade JORC compliant indicated and inferred mineral resource estimate of 51.1Mt at 9.3% total graphite content.