Tirupati Price: 83.5 GBX
Market Cap: £62.42 m
Market Cap 85 m US-DollarTotal Assets: 6,3 m (3/30/2020)
Total Capitalization: 5,084
"Tirupati Graphite has become the latest Indian company to list on London Stock Exchange's Main Market, raising 6 million pounds (USD 8m) in equity capital from both institutional and retail investors." (December 2020)
Bass Metals Price: 0.005 AUD
Market Cap: 20.108M
Market Cap: 15,5 m USDTotal Assets: 10,561 m (6/29/2020)
Total Capitalization: 2,507
Bass Metals (BSM) has successfully completed the first phase of a $2.85 million equity raising (June 2020)
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Overview Tirupati
"Tirupati is a fully integrated, natural and specialty graphite and graphene company, with operations spanning the full value chain.
It is developing projects for natural flake graphite in Madagascar via two projects:
- Sahamamy
- Vatomina Project.
- It is also developing specialty graphite processing facilities (including expandable, high purity, micronized and spherical graphite)
- And graphene manufacturing via its projects in India.
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SAHAMAMY PROJECT - FLAKE GRAPHITE PROJECT
- PLANT 1 OF
3000 TPA - PRODUCING & SELLING
- Started plant in Q3 2018 and commissioned it in a record time of 6 - 7 months.
- extracting 50% of the waste as a by-product i.e., construction grade sand. (This is currently being used for inhouse construction and infrastructure development.)
- Superior product basket
- 50% Jumbo, 35% Large and 15% Small Flakes- Produced >97%C purity, consistently achieving >85% recovery.
- Markets established, selling across the globe into various applications with a major focus on Europe, USA, India and parts of Asia.
- Mining fleet deployed, free-dig mining continues with systematic mine development.
Does anybody find the following data: - What are the grades for this Sahamamy project?
- Data about mine life?
- What are the resources (indicated, measured and total?)
- Total permit area?
- Whats the total production capacity (planned)?
- Do we have cashflow numbers and profit margins for this project separately?
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VATOMINA PROJECT - FLAKE GRAPHITE MINING AND PROCESSING, MADAGASCAR- The project was acquired in May 2017
- The first module, comprising a 6,000 TPA plant is substantially constructed and
nearing completion.- 25 km2 permit area
- mining permits issued for 40 years that are renewable.
- The project is being developed to a total production capacity of 60,000 TPA in modules.
- A third of the mineralised zones have been explored to date
- Exploration activities include >3000m core drilling, >4800m auger drilling, pitting, trenching, mapping, surveys and exploration mining of 36 MT ore.
- Maiden JORC Resources (by SRK Consultants):
Indicated - 3.2mt @ 4.3% GC Indicated - 15.2mt @ 4.7% GC- Exploration target of between 8 to 10 million tonnes of flake graphite with an
average grade of 3-4% TGC- Staged exploration strategy, establishing enough resource for development plan
- The currently defined Mineral Resource Estimate under JORC (2012) implies total contained graphite of 852,000 tons resulting in a mine life of over 14 years based on the
planned 60,000 TPA production capacity.- Cost optimisation - bought a diamond core drilling rig and developed an expert team for exploration activities
Does anybody find the following data: - are they also selling the waste in this project?
- Will be interesting to see their basked % in regards to flake size
Bottom Line ComparisonPro Bass Metals: - Bass Metals is six times cheaper than Tirupati.
- The United States and the EU needs "western graphite", not from an Indian company.
- Around same grade as Tirupati (Vatomina)
- Will be interesting to see the basket (Vatomina) once they are up and running
- Bass was up and running for 18 months. They can now fine-tune and improve the business model and restart with the learnings taken.
- Tirupati needs to prove with Vatomina project
Pro Vatomina: - Management seems more experienced and longer in graphite
- Better momentum, better capitalised
- India is a huge market where they probably have an advantage to sell
- I can't judge their downstream business - seems okay
- They seem to control entire value chain directly to India.
Considering that Bass Metals currently is six times (!) cheaper there is huge upside for BSM stock. If the DFS shows those improvements Bass will be above Tirupati - no doubt about that. Based on that, Urbix will make a decision. If the deal goes through and/or maybe some announcements with downstream processing BSM should be ahead. Lastly, if the graphite market keeps going up it could create some additional hype.
Please let me know what you think?
@Shellbell and others
Please also double check my part.
#freeshellbell #nolovelost
