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Metals Australia’s Share Price Steady After High-Grade Graphite Results
By Ryan Clarkson-Ledward 21/11/2018
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Metals Australia’s share price is travelling consistently after its recent high-grade graphite results. It’s expected that the company’s share price could rise in the future, if results like these continue.
After the completion of its Lac Rainy field program in September, Metals Australia Ltd [ASX:MLS]have confirmed high-grade zones.
Zones of natural flake graphite mineralisation present in its channel samples, which prompted the company to extend its strike length.
The results from Lac Rainy seems to be the first step in outlining a resource at the project. The project itself is located in the south-west of Fermont.
Keeping up with current events on the ASX and beyond can be exciting, but incredibly overwhelming if you consider yourself a beginner. If you’re looking for some guidance, be sure to read our investor report on ‘How to Invest in Lithium’.
Metals Australia share price aided by Lac Rainy
Metals objective for the Lac Rainy project is to identify a deposit of sufficient tonnage of 15–20% range. A goal which is helped by exceptional sampling results.
Director of Metals Australia, Mr Gino D’Anna, commented on the high grade results:
‘The Phase 1 channel sampling campaign at Lac Rainy have yielded exceptionally high grade results across significant mineable widths, including 18.53% CG across 14.5 m at surface. The width of the mineralized horizons were better than expected and with mineralisation horizons were than expected and with mineralisation starting at surface with such high grades is very encouraging. Lac Rainy offers the potential for lower mining costs and lower strip ratios.’
Mr Gino D’Anna also said going off these high grades results, as well as strike expanding to three km and remaining open, there’s strong likelihood for high grade graphite deposits of high tonnage at Lac Rainy.
Metals Australia is excited by the news as the Lac Rainy project continues to exceed expectation in grade, width and strike potential, which could generate possible extensions to the project.
The Lac Rainy project seems to reflect the nearby Lac Knife Graphite deposit, which is the leading battery-grade project in North America.
The results not only show the project could host significant high-grade graphite resources, but it also suggests that an open pit/trip mine design could be used. This means lower upfront capital costs, as well as permitting increases to production.
What shareholders can expect from Metals Australia
The significance of graphite flake findings in the production of lithium-ion batteries has been emphasised through joint ventures.
Examples include the recent McIntosh project based in Western Australia between Mineral Resources Ltd [ASX:MRL] and Hexagon Resources Ltd [ASX:HXG], which is anticipated to achieved commercial production by April 2021.
Recent market activity such as the deal between MRL and HXG are expected to bring renewed excitement in the graphite sector.
Combined with the added processing plants in China set to bring down emissions, it means this will most likely place increasing upward pressure on graphite prices.
Regards,
Ryan Clarkson-Ledward,
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