looks like it wants to go higher !!, page-8

Dont forget we still have sugarloaf with amorphous graphite and campoona with flake is only 1% drilled,

It is true that flake graphite commands a higher price than amorphous. Flake graphite is extremely rare and tends to be used for high end (low volume) uses. >70% of the world’s graphite production is amorphous graphite.


Here’s the kicker. Amorphous graphite (>400 mesh or 0.037 millimetres in length i.e, ultrafine graphite) that is >99.9% carbon can sell for over USD$35,000/t. So whilst size matters it is not the be-all. High purity amorphous graphite is highly prized and valuable.

Our Sugarloaf deposit is huge with an initial conservative Exploration Target of 24-37Mt grading close to 12% C. Historic mining is thought to have produced up to 15% flake but for all intents it is an amorphous deposit.

The amorphous market is 700,000 – 800,000tpa and the flake around 300,000 – 400,000t. China has just closed 180 graphite mines in Hunan province which will remove some 200,000t of mostly amorphous capacity from the market.


Whilst Sugarloaf is likely to provide some large flake AXE will have Sugarloaf providing base tonnes and sweetened with Campoona flake which is looking huge as well.

We did have someone sniffing around to JV sugarloaf l wonder if its still on the cards. The chinese l think from memory.