Naja zumindest hat sich unser CEO durchgerungen ein update zu posten - keine Neuigkeiten aber zumindest irgendetwas...
Business Development UpdateSTRONG EUROPEAN GROWTH, COMBINED WITH NEW EU LEGISLATION ON BATTERIES,POSITIONS ECOGRAF’S VERTICALLY INTEGRATED DEVELOPMENTSEcoGraf Limited (EcoGraf or the Company) (ASX: EGR) is pleased to provide the following update. Battery Graphite Manufacturing FacilityThe Company is makingencouraging progressin relation to securing approvals for a US$35 million debt funding arrangement for the new Kwinana development. The Development Report, Independent Market Study, updated financial model, feasibility and engineering studies have been provided for lender analysisand the Company is working with the lenders through the approvalprocess.In parallel, work is being undertaken to finalise the EPC contract, feedstock supply contract, operations and maintenance arrangements and the early works program that will facilitate commencement of the detailed engineering design works.The Company also remains confident of finalising further sales and offtake arrangements as discussions advance with existing customers in Europe and Asia.
The proposed 20,000 tonne per annum facility will manufacture battery anode products for export to Asia, Europe and North America using a superior, environmentally responsible purification technology to provide customers with sustainably produced, high performance battery anode graphite. EcoGrafTMRecyclingThe Company is making encouragingprogress as recycling test workcontinueswith customerswhich includesleading electric vehicle and battery manufacturers A proposal is being finalised to undertake engineering design worksfor a containerised pilot plantsupported bythe recent positive resultsof up to 99.8% carbon achieved during testing with potential European customers on the recovery of high purity carbon anode material from battery black mass.
On the basis achieving 99.9% for carbon anode material,which appears realistic given the results achieved to date, the blend required to meet the critical 99.95% C grade specification used by cell manufacturers would be two parts battery spherical graphite to one part recycled black mass carbon anode material. EcoGraf blended carbon anode material provides a unique recycled productconsistent withthe recent legislation changes by the EU forgreater recycling.
Epanko Mine DevelopmentThe Company continues to progress the senior debt financing of the new Epanko graphite mine and following positive feedback from a presentation of the KfW IPEX-Bank debt financing proposal to the Tanzanian Government in August, Government due diligence processes have commenced with a view to preparing an internal submission for formal approval.
The US$60m debt financing proposal accommodates the Government’s requirements under the new mineral sector legislation and provides an opportunity for Tanzania to develop a world class graphite mine in the Ulanga District, Morogoro Region that will operate under globally leading Equator Principles for social and environmental planning, including International Finance Corporation Performance Standards and World Bank Group Environmental, Health and Safety Guidelines.Mr Andrew Spinksstated“Although the year has been challenged by the major disruptions causedby Covid19, the Companyhas madesignificant progress advancing the debt financing for both developments, while introducing a third pillar of value through the innovation of utilising the Company’s purification process to recover carbon anode material.
Our management team is working hard tosecurea combined debt financingof US$95m which will transform the Company’s prospects.”“The value proposition of our recycling strategy, combined with the vertically integrated business developmentsusing the Company’s proprietary purification process is significant and more importantly matches the new EU legislative changes.
”The board and management would like to take the opportunity to wish all shareholdersa safe Christmas andlooksforward to advancing the Company’sdevelopment in the New Year.This announcement is authorised for release by Andrew Spinks, Managing Director
Dann mal warten auf den Jänner...
Ich wünsche Allen ein frohes Weinachtsfest und ein für EGR und für uns erfolgreiches Jahr 2021!
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