Gratomic (TSX.V: GRAT) (OTCQX: CBULF) (FSE: CB82), a multinational company with projects in Namibia, Brazil and Canada, has released an update on its wholly owned Aukam graphite mine and processing plant in Namibia. According to the report, since the company began the commercial commissioning phase in June, Gratomic has processed 80 tonnes of material through the processing plant at a grade of 94% Cg concentrate; the material is being stored in storage silos on the project site. The company noted that the commercial phase has delivered identical results to the pilot testing done both on site and at SGS Lakefield in Canada. The report also observed that modifications were undertaken to optimize the operation of the processing plant for future production as the commercial commissioning process identifies bottlenecks and provides an opportunity to eliminate those without causing downtime to future production. In addition, the company explained that, with the recent announcements out of China, the majority of western original equipment manufacturers (“OEMs”) are taking all necessary steps to bring on new critical mineral supply, with graphite receiving a lot of the focus because it is still very much controlled by China.
Gratomic has been in discussions with potential buyers and has delayed its product-development program for a few weeks to ensure that all the relevant product specifications are met to fulfill end-user needs. The report noted that an additional C$4.7 million capital expenditure is needed for its Aukam Graphite facility, which will push the output of the facility to 12,000 tonnes by November 2024, a significant increase from its current kick-off level if 7,600 tonnes. “The past few months have been challenging and time consuming,” said Gratomic president and CEO Arno Brand in the press release. “It is with great relief that we now see ourselves in the final steps in preparation of production at the Aukam Graphite mine in Namibia.”
To view the full press release, visit https://ibn.fm/1aETG
About Gratomic Inc.
Gratomic is a multinational company with projects in Namibia, Brazil and Canada. The company aims to become a leading graphite supplier and to secure a strong position in the electric vehicle battery supply chain through the development of its flagship Aukam graphite mine and ongoing exploration at the Capim Grosso property. The company will continue to explore graphite opportunities that show the potential to produce the specific flake size and purity required for active anodes. Large quantities of high-quality vein graphite have been shipped for testing to confirm suitability as anode material. Gratomic is confident that the test results will provide a unique competitive advantage in the desired target markets. The company will continue to update the public on the status of these tests and will share results as they become available. In addition, in January 2023, Gratomic announced that it had entered into a LOI with Graphex Technologies to supply graphite through existing facilities and develop a downstream processing facility in the continental United States. Gratomic has also entered into a collaborative agreement with Forge Nano to use its patented atomic layer technology (“ALD”) to coat of spherical graphite required in lithium-ion batteries. For more information about the company, visit www.Gratomic.ca.
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