JOHANNESBURG (miningweekly.com) - Industrial mineral concentrates producer Bass Metals has reached the final phase of its recommissioning works at the Graphmada large flake graphite mine, in Madagascar.
The company is aiming to have Graphmada fully operational by late March, with Stage 1 establishing Bass as one of the only two ASX-listed producers, and one of only four publically listed graphite producers globally.
When operations start, Graphmada will be a 100%-owned mine free of any serviceable debt, with offtake agreements in place, producing premium large flake graphite concentrates at a time of rising prices, Bass said in a statement to shareholders on Monday.
Following the successful recommissioning of drying and packaging operations, with first production achieved from stockpiled wet product, the company further reported that the process plant had all equipment items installed and electrical engineers were on site installing electrical boards and components.
Post start-up, the company aims to ramp up production to 500 t/m of premium large flake graphite concentrate production, delivering positive cash flow for its shareholders.
"The team is excited and working hard to reach our aim of being fully operational in late March. With a significant number of the Malagasy and expat management team now also shareholders, the team is aligned and focused on achieving our key corporate objective - positive cash flow from high-value graphite concentrate production," CEO Tim McManus said.
Meanwhile, Bass also reported on the progress of its other projects, including the Millie's Reward lithium project in Madagascar, and the Andapa graphite project, in Madagascar.
At Millie's Reward, camp establishment is under way, with planning having been completed for the first round of exploration activities.
At Andapa, shallow exploration auguring has confirmed that the area contains at least three lenticular bodies of large flake graphite within the weathered profile. The programme predominantly concentrated on mineralisation to the east, directly along strike to the Ansirabe graphite mine, which was decommissioned by its Chinese owners in 2017.
The eastern mineralisation trend, the company noted, is adjacent to water supply and road access, allowing the company to make an early assessment of the project's economics, post drilling to depth.
The further assay results, although received by the company, are being further revalidated by the laboratory and competent person, prior to announcement to the ASX.