If you think you’ve missed the boat betting on graphite explorers, think again.
With a recently inked option deal to acquire a highly prospective piece of ground bordering Kibaran Resources’ graphite play in Tanzania, Green Rock Energy might still represent a graphite bet worth making.
At less than a cent per share, Green Rock is hoping the market will recognise the proximity of its Mahenge North graphite project to Kibaran’s 14.9mt graphite resource grading more than 10 per cent TGC just 500 metres away from the tenement boundary.
In some cases, Kibaran has ‘trenched’ just 50m away from the ground under option to Green Rock.
Kibaran’s recent impressive share price run, that took its market cap north of $60m on the back of its Epanko graphite project, has again focused graphite market attention on Tanzania.
Historic metallurgical studies across the Mahenge North project that borders Kibaran’s Epanko project show a significant 15.5 per cent carbon head grade with recoveries of 95.7 per cent.
Of real interest, however, is the presence of the considerably more valuable large “flake graphite” on Green Rock’s ground, with some historical samples being produced at a massive 500 microns.
While graphite has a number of uses, advances in building-product technology and the huge battery market, which require large flake graphite, are considered to be the most exciting and financially rewarding.