Great to wake up this morning and read that the Mining Commission has finally been formed and that all positions have been filled. What an exhausting wait it has been.
Just to refresh on where we're at and what comes next, I'll post some points from our update in February.
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KEY POINTS
• Demand for quality graphite is strong and accelerating on the back of lithium-ion battery use in electric vehicles
• Epanko is now widely-recognised as a quality graphite project which is ready for immediate development. The project has been subjected to rigorous, independent due diligence by bank appointed engineers, it is robust with strong economics, conservative design, costings and pricing
• Product qualification is critical to sales given each end-user has its own unique product requirements. Epanko graphite has completed this qualification process which culminated in securing the sales and offtake agreements
• Feasibility study to produce battery (spherical) graphite for sale directly to battery anode manufacturers is completed. New clean non-toxic purification process developed with proprietary technology for production of battery (spherical) graphite with 99.98% purity
• Opportunity to supply battery (spherical) graphite directly to battery manufacturers is a reality with a decision to construct the pilot plant in Germany for production of commercial quantities this year
• New mining regulations in Tanzania have been reviewed by Kibaran and its legal team, which found they provide no serious impediment to development at the project level
• Kibaran and lenders now awaiting the formation of the new Minerals Commission in Tanzania, which is expected shortly
• Kibaran positioned to place Epanko in front of Minerals Commission as soon as it is operating
• Government stated on 14th February 2018 via Ministry website they are prepared to make any necessary changes in the Acts or Regulations to ensure all stakeholders benefit
And here's the bit that I really like...
All approvals are in place and the project ready for immediate development, with the development team and engineers on standby.
The Company will provide an update on its Epanko development timeline after it has presented it to the Mining Commission.
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Hopefully the March quarterly will provide us with an update on our submission to the commission.
KNL Price at posting:
14.0¢ Sentiment: None Disclosure: Held
