Triton Minerals Limited: Ancuabe Graphite Project Approved for Development
(firmenpresse) -
ANCUABE GRAPHITE PROJECT APPROVED FOR DEVELOPMENT
- Triton Board approves development of the Ancuabe Graphite Project, Mozambique
- A new high-value graphite mine with estimated annual production of approximately 60,000 tonnes per annum of graphite concentrate, over 27 years Ancuabe Definitive Feasibility Study - refer ASX announcement dated 15 December 2017
- Development and commercialisation activity undertaken following the 2017 Definitive Feasibility Study confirm Tritons confidence in forecast project economics
- EPC proposals indicate capital cost savings that could further enhance project economics
- Early works are underway
- Construction expected to commence in the second half of 2018, with first graphite production targeted for the second half of 2019
Triton Minerals Limited (ASX: TON, Triton or the Company) is pleased to announce that the Board has approved the development of the Ancuabe Graphite Project, located 45km from the port of Pemba (80km via sealed road) Mozambique (Ancuabe or the Project).
The FID decision to approve development of Ancuabe follows the positive Definitive Feasibility Study in December 2017 (DFS) and development and commercialisation activity completed in 2018 which has confirmed the Boards confidence in the quality of the Ancuabe Project and projected economics.
Since the DFS was released, Triton has:
- completed FEED engineering, Pilot plant and environmental work and studies
- secured binding off-take agreements for up to 50% of annual production
- acquired a 100% economic interest in the Project
- progressed engineering, procurement and construction (EPC) tenders, which indicate potential capital cost savings, and associated favourable debt financing terms
- submitted a Mining Concession application
- received preliminary environmental approval and submitted final environmental applications
Early Works and Construction
Early works have commenced and include earthworks for the development of the raw water dam needed for construction and operations. Site access roads are being repaired following the wet season to provide access for construction equipment and fuel tanks and camp construction has commenced. Medical and camp service providers are will arrive shortly arrive at site.
Construction is expected to commence in the second half of 2018, subject to final approvals and financing, and would support first graphite production in the second half of 2019.
Triton Managing Director Peter Canterbury said:
It is a pleasure to announce that Triton has approved the development of Ancuabe, a new, high-value graphite project for the global expandable graphite and lithium-ion battery markets.
The development of Ancuabe will deliver substantial benefits for government, stakeholders and communities in northern Mozambique.
The substantial work undertaken by Triton during 2018 has confirmed the Boards confidence in Ancuabe and enabled the Board to make this development decision only 18 months from the discovery of the T16 deposit.
As outlined in the DFS, Ancuabe is forecast to deliver strong economics returns for Triton, and we are excited to continue to de-risk and deliver value for Shareholders as we progress to first production.
We are seeing continued strong demand and pricing for the high purity, large flake, graphite products that will be produced at Ancuabe.
In addition, given the strong interest shown by strategic investors, industry players, and financiers in the Ancuabe Project, we are confident of securing investment capital for Ancuabe to enable construction to commence in the second half of this year.
Early Works Activities at the Ancuabe Graphite Project
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Enquiries-
Peter Canterbury
Managing Director
info(at)tritonminerals.com
+61 8 6489 2555-
David Edwards
CFO/Company Secretary
dedwards(at)tritonminerals.com
+61 8 6489 2555
Contact Details (Australian Office)-
10 Outram Street
West Perth 6005-
Forward-Looking Statements
This release may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Triton Minerals Limiteds current expectations, estimates and assumptions about the industry in which Triton Minerals Limited operates, and beliefs and assumptions regarding Triton Minerals Limiteds future performance. Words such as anticipates, expects, intends, plans, believes, seeks, estimates, potential and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only predictions and not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Triton Minerals Limited. Actual values, results or events may be materially different to those expressed or implied in this release. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this release speak only at the date of issue of this release. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Triton Minerals Limited does not undertake any obligation to update or revise any information or any of the forward-looking statements in this release or any changes in events, conditions or circumstances on which any such forward looking statement is based.
Actual values, results, interpretations or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements in the announcement as they speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and ASX Listing Rules, Triton Minerals Limited does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward-looking statements is based.
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Datum: 01.06.2018 - 10:55 Uhr
Sprache: Deutsch
News-ID 576380
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