BATTERY MINERALS

Battery Minerals

Company Exposure

Graphite

Company Listing

Battery Minerals

Stock Code

ASX:BAT

Company Overview



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.

Investment Highlights

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
Live Financials

Latest Announcements

Share Price Performance

Team

David Flanagan – Executive Chairman
Ben Van Roon – Chief Operating Officer
Andy Cardoso – Mozambique Country Director
Tony Walsh – Company Secretary & GM Corporate
Jeff Dawkins – Chief Financial Officer

Major Shareholders

Farjoy Pty Ltd. – 12.55%
Mitchell Group Holdings – 3.45%
BAS Investments Pty Ltd – 2.75%
Pacific Development Corporation – 2.00%
Top 20 Shareholders – 35.34%

Projects Overview


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

Balama Graphite Project

Concept study justifies move to feasibility study

  • Balama Total Resource of 16.3Mt at 10.4% TGC2 (6% TGC cut-off), for a 20+ year mine life, based on Montepuez type production parameters
  • Additional resource potential down-dip, along strike
  • Preliminary test work concentrate recovery 93%, with 63% of product plus 150 micron high value flake
  • Favourable flake distributions – September 2017 Benchmark Minerals published basket price US$1217/t

How much Graphite Is Needed For Electric Car Take-Up?

  • A typical EV or HEV has a 30-100kWh battery pack (Tesla Model 3 have >60kWh).
  • Each battery requires ~1.1kg of graphite per kWh
    • A Nissan Leaf with a 24kWh battery would need 27kg of graphite
    • A Tesla Model S with a 85kWh battery would require ~94kg of graphite
    • A Chevrolet Bolt with a 60kWh battery has 63kg of graphite
  • UBS assumes on average each EV or HEV contains 50kg of graphite. That means each 1m vehicle sales per annum need ~50tktpa of graphite in the anode (45-50% material).
  • 2016 Annual car sales ~94m vehicles (72m passenger) so 1m vehicle sales would represent around 1% of world car sales. If 30% of current car sales were Evs, then we need ~1.1Mtpa of graphite. The current graphite market is ~2.4Mtpa, of which natural flake is ~650ktpa. Thus if EV + HEVs take up a reasonably chunky position on the car market then the mine supply of natural flake graphite will likely need to grow multi-fold.
  • UBS model sales of 11.5m BEV, 7.2m HEV & 2.7m PHEV in 2025e.
    This needs 555,000 tonnes of natural spherical coated graphite which with production losses requires 1.17m tonnes of natural flake graphite concentrates, ie. 95% TGC.

Contact Details

WEBSITE: www.batteryminerals.com

EMAIL: info@batteryminerals.com

PHONE: +61 8 61 48-1000

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