Name of the Project
Montepuez graphite project.

Location
Mozambique.

Project Owner/s
Battery Minerals.

Project Description
Montepuez Stage 1 (M1) is a 50 000 t/y graphite flake project. 

The current project life is 20 years, which Battery Minerals expects to expand to about 100 000 t/y in Stage 2. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 10% discount rate, of $146-million and an internal rate of return of 36.2%. Payback has been reduced from 4.75 years in the definitive feasibility study (DFS) to two years in the value engineering study.

Capital Expenditure
Total capital expenditure in the value engineering study is estimated at $42.33-million, compared with $126-million in the February 2017 DFS.

Planned Start /End Date
Steady-state production is expected in the final quarter of 2019.

Complete ramp-up of the first stage of the mine is expected in the third quarter of 2019.

Latest Developments
Battery Minerals will raise A$5-million through a share placement to progress its Montepuez graphite project.

Battery Minerals will issue 204-million shares at 2.5c each to professional and institutional investors. The shares will be issued in two tranches, with the second tranche subject to shareholder approval.

Placement investors will receive one listed option, exercisable at 10c each, for every two shares subscribed for. The options are already quoted and can be traded on the ASX.

The proceeds of the raising will be used to continue the ongoing development of the graphite project, and for general working capital.

Battery Minerals is currently working to complete financing for the planned 50 000 t/y Stage 1 project, with some $42-million of financing still outstanding.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Battery Minerals, tel +61 8 9322 7600, fax +61 8 9322 7602 or email info@batteryminerals.com.