Interesting project and thanks for the tags as was not aware of it. Seems they have decided that they better go and have another look at the project, which they should given the graphitic carbon content of the historical data is ok. Only looked at the 15 March 2021 Ann and this Ann, and quarterly, so not commenting on its other projects, but yes the Ghana project looks interesting. Not sure why it took them so long to revisit this project, but suspect it has to do with the impending graphite shortage and hence need to re-examine the project in that light. Markey Cap does look low here btw too me given prospects and potential potential, but as I said haven't delved too much into this company btw.
I guess, the first starting basis here is going to be what the upcoming METs show for its graphite play, given it still needs to do quite a bit more work before its can even start doing feasibility studies, so I have added this to a watch list of mine and will be interesting how they progress. That means more drilling and also assessment within the framework of the JORC Code itself - that is establishing a proper Mineral Resource Estimate that established what part of the resource is in the Measured, Indicated and Inferred Category.
And obviously given the EV movement you are going to need a number of new greenfields developments in the graphite space btw, so will be interesting here.
Anyway, these general posts can provide some background on graphite and battery types and EVs and role for graphite as a reference. I posted them in another stock but the information is quite general which one can use here if it helps:
1.
Understanding graphite demand - these posts provides a basis around what is graphite and what EV demand means for graphite, and the mix of spherical versus synthetic graphite in batter anodes -Post #:51768438 As a matter of interest the kg graphite need in NCA and NCM batteries in the anode, is not that different to the kg per kWh need for lithium carbonate equivalent in such batteries per se (albeit for graphite it is a mix between spherical and synthetic but still means you need a hell of a lot of new graphite greenfields projects, noting graphite demand itself is not just limited to EVs.).
2. . Battery types and why graphite will continue in the anodes of batteries, and again a very generalistic post applicable to other stocks - Post #:50130829 Solid State batteries will not be the predominant battery going forward - it will be NCM and NCA batteries and these require graphite in the anode.
3. Bottom half of this post provides info on how on general gold/copper projects as the quarterly here makes mention of such projects it may hold - Post #:51384197 I see from the quarterly you also have some prospects in OZ on that front, albeit the projects there appear to also hold base metals (zinc for example).
4. This diagram belowv explains the concept of a Mineral Resource Estimate - basically you do your feasibility studies when you identify a Measured and Indicated Resource. The 15 March 2021 Ann suggests that they need to also do some more work in ensuring they get to this as well given the resource identified in 2012 was in the Inferred Category, and complied with the 2004 JORC Code (which the Code itself was subsequently updated in 2012 and hence the company also will need to revisit the JORC to comply with the 2012 edition). Just saying this to show where yourselves are at, but with more drilling and some technical evaluation of past data should be ok to redo etc etc. Wouldn't see that as a concern, but obviously need to get your resource into the Measured and Indicated category, and then can start feasibility studies in due course. And the METs upcoming here will be particularly interesting IMO for momentum here IMO
Quick look, but the embedded posts above might help yourselves in how to evaluate such projects for potential etc etc. Your choice to read or not, but for those who do hope they help.
All IMO and good luck. As I said, the world needs a number of new greenfields graphite projects to meet demand, especially projects located outside China.
All IMO IMO
(20min delay)