Battery Minerals Limited, an ASX listed company (ASX: BAT), is a diversified mining development and minerals exploration company dedicated to exploring for and developing mineral deposits in Mozambique.
The Company’s core commodity targets are graphite, zinc/lead and copper. BAT is maintaining a focus on its two graphite development assets located in Mozambique, Montepuez and Balama, which are expected to come into production in late 2018 and 2021 respectively.
Battery Minerals completed a $20m placement via a $19.5 share placement in January, 2018. The placement was strongly supported by Battery Mineral’s largest shareholder, which has maintained its 12.55% interest in the Company, and institutional investors.
The Company is now fully-funded for its next phase of growth, including:
• Significant drilling programme underway at Montepuez, with results due shortly
• Planning, design and early development works at Montepuez including orders placed for the crusher and detailed engineering
• Accelerate a DFS on Battery Mineral’s Balama graphite project with expected completion June 2018
SHARE PRICE PERFORMANCE
MONTEPUEZ GRAPHITE PROJECT
Advanced Graphite Project (DFS and Value Engineering Study completed and published)
• Proven Logistics: bulk sample delivered to port in 2017 means 260km logistics chain now proven
• Port Allocation Approved: at Pemba Port for 100,000tpa of graphite concentrate
• Huge Resource/Reserve Inventory:
»» Probable Ore Reserve 41.4Mt @ 8.8% TGC @ 4% TGC cut-off for a 30+year mine life
»» Indicated & Inferred Resource 105.9Mt @ 7.74% TGC @ 2.5% cut-off
»» Significant exploration potential
• Fast Development Timetable
»» Approvals expected in March Quarter 2018 – Construction started in early 2018
»» First shipment March Quarter 2019
»» Concentrate production of 50Ktpa @ 96.7% TGC
• Initial production of 45,000 – 50,000tpa of graphite concentrate growing to 100,000tpa.
• Low Capex of US$42.3M, lowest quartile Opex of US$337 per tonne.
• Short payback of less than 2 years
• Able to expand to 100ktpa:
»» US$25-29M for additional 45-50ktpa capacity
Farjoy Pty Ltd.:
Mitchell Group Holdings:
BAS Investments Pty Ltd:
Pacific Development Corporation:
Top 20 Shareholders:
Ben Van Roon
Chief Operating Officer
Mozambique Country Director
Company Secretary & GM Corporate
Chief Financial Officer