"AMMG has delineated an exploration target* of between 200,000 - 600,000 tonnes at 20% amorphous graphite, which after processing equates to 40,000 to 120,000 tonnes of >86% graphite end-product.
A ‘historical estimate’ of the graphite resource was conducted by Cable Sands (WA) Pty Ltd (now Bemax Resources) in 1988. Geophysical exploration conducted by Cable Sands discovered several buried conductors that have the potential to significantly increase the estimated exploration target.
Metallurgy test work has shown that flotation and gravity separation combined could produce a fine-to-medium flake graphite assaying up to 90% carbon. An estimated 4,000 tonnes of ore for approximately 1,000 tonnes of graphite was produced from historical mining in 1905."
Taken from the September 2013 quarterly report and never mentioned since.
This is one of the projects that the company has stashed away in their portfolio.
AKA Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
