(Alliance News) - Sovereign Metals Ltd on Monday said it has received "outstanding" results from purification testing of graphite at its Kasiya rutile-graphite project in Malawi.
The Malawi-focused mine explorer and developer said testwork confirmed coarse flake graphite at the project could be purified to 99.95% using acid purification, and 99.98% using alkaline purification.
"These are truly outstanding results - effectively achieving battery grade purities of +99% and less than 0.05% ash under conditions that typically result in under 1% ash," said Chief Executive Officer & Managing Director Frank Eagar.
"For our future customers, this has the potential to significantly reduce reagent consumption and waste generation in the production of high-purity flake or targeted high-end applications."
Shares in Sovereign Metals were up 2.7% at 45.20 pence in London on Monday morning. The stock has almost doubled from 23.50p over the past year.
CEO Eagar continued: "This is yet further confirmation that Kasiya graphite concentrate is a premium graphite suitable for the anode, refractory, expandables and now also the high-purity powder metallurgy markets. We are delighted with the significant commercial optionality it brings to the Kasiya rutile and graphite project."
By Emily Parsons, Alliance News reporter
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