| Announcement Date: | 2023-10-23 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Castle Minerals Ltd. |
| Project name: | Kambale |
| Location: | Ghana |
| Commodities: | Graphite |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | The MRE increase provides a very solid platform upon which to advance our development ambitions, especially now that Castle has demonstrated in test work that a fine flake graphite concentrate of commercial specifications can be produced using a conventional flotation process. This is the primary material used in the manufacture of lithium-ion battery anodes. This all comes just as China this week has introduced a surprise ban on natural and synthetic graphite exports to protect its battery and car manufacturing industries. This will immediately intensify the multi-billion dollar rush by the USA, EU and other non- China EV manufacturing nations to secure other sources of graphite, battery anodes and EV batteries which they are presently almost totally reliant on China for. The accelerating take-up of EVs alone is driving an enormous increase in demand for graphite for use in lithium-ion batteries for EVs, power storage units and other chargeable consumer devices. |
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