South Star Battery Metals, a company listed on the TSX-V, has awarded contracts for a preliminary economic assessment (PEA) for the BamaStar graphite project, in Alabama, in the US.
The interdisciplinary team of consultants, engineers and scientists is co-led by Dorfner ANZAPLAN and Lycopodium.
With the recent mineral lease and surface right extensions, South Star has successfully completed all the other requirements for BamaStar’s option agreement. Preparing the PEA is the final milestone that will give the company the right to acquire an undivided 75% legal and beneficial interest in the project.
The PEA is expected to take about three to four months to complete, says CEO Richard Pearce.
“We believe it [the PEA] will present a robust scenario with two scalable mines producing high-quality concentrates and a value-add plant in the middle of one of the most critical EV [electric vehicle], defence, and energy storage corridors in the US,” he states.
“At a time of increasing geopolitical risks and supply-chain concerns regarding critical metals and the energy transition, it’s great to be one of the first movers advancing a phased, vertically integrated graphite supply chain with near-term production and high-quality assets in Tier 1 jurisdictions in the Americas.”