PERTH (miningweekly.com) – Graphite miner Bass Metals is expected to reach its Stage 1 nameplate capacity of 500 t/m at its Graphmada project, in Madagascar, by the end of the first quarter of 2019.
The company said on Tuesday that the production of premium graphite concentrate has steadily increased, with Bass now consistently producing larger than 40% large flake graphite concentrates above 94% fixed carbon.
“We have achieved our main commissioning milestones and our focus is now on achieving the desired run-rate, which we are well advanced to do,” said Bass CEO Tim McManus.
“This, combined with the exciting market dynamics of large flake undersupply and high growth demand, A$5-million in cash and receivables, and zero debt, sees Bass in a strong position ahead of its first sales this quarter.”
With the sale of product from the recommissioned and reconfigured Graphmada plant starting shortly, Bass was hoping to be cash flow positive by the second quarter of the financial year.
The company said on Tuesday that in addition to existing sales arrangements for Europe, Bass has also received considerable interest from Asia, India and North America regarding sales of Graphmada concentrates.
The company said that it has also received meaningful interest and enquiry regarding the sale of its intended Stage 2 production.