Magnificent rise for Magnis

extract of article....

Magnificent rise for Magnis

ASX-listed near-term graphite developer Magnis Resources topped this week’s list of Australian and Hong Kong-listed market risers, in a week of solid gains for lithium-ion battery ingredient companies.

• Staff reporter
• 17 Nov 2016
• 6:10
• Feature

Shares in Magnis started rising on November 15, the same day the Australian Financial Review mentioned the company in a feature on “Hot commodities with leverage to lithium boom”.

The growing global demand for electric vehicles and energy storage batteries is driving up interest in the lithium and graphite sectors.

Magnis yesterday updated the market on positive lithium-ion battery results and continued progress at its Nachu graphite project in south-east Tanzania, saying it had significantly reduced the manufacturing cost of graphite silicon blend anode material, and successfully tested full cell batteries which had Nachu graphite in the anode.

The company appointed a key figure in the invention of lithium-ion batteries, distinguished professor M. Stanley Whittingham, to its board earlier this month. His appointment followed project executive Marc Vogts and finance executive Peter Sarantzouklis joining the board, after two directors resigned in October.

According to Nachu’s bankable feasibility study, the 174 million tonne resource at 5.4% graphitic carbon is expected to have operating costs of US$502/t free on board (ex-royalties) for the first five years of production, and an internal rate of return of 98% with the capital payback projected within 14 months of first production.



http://www.mining-journal.com/financeinvestment/companies/magnificent-rise-for-magnis/