Metal and mining group, Black Rock Mining Limited (ASX: BKT) has released an investor presentation in which it has provided information about its best in class Mahenge Graphite Project which is wholly owned (100% interest) project of the company.
In the presentation, the company informed that its Mahenge Graphite Project is having a JORC compliant Mineral Resource Estimate of 212 million tonnes at 7.8% TGC. The contained graphite of the project is ranked #2 in terms of Ore Reserves and #4 in terms of Resources.
In October 2018, Black Rock released a Definitive Feasibility Study (DFS) for the Project which demonstrated excellent financial metrics for the project. As per DFS, the project is having the lowest peak capital expenditure of US$115 Million for phase one with AISC margin of 63.6%. The project is having IRR of 42.8% with NPV10 of US$895 million. As per the company presentation, the Mahenge Graphite is the best-undeveloped graphite project globally driven by geology and geography.
In the presentation, the company also provided information about its management team. Currently, the company is headed by Mr. John De Vries who is serving as CEO and Executive Director of the company. Mr. John is having an experience of 35 years, and before joining Black Rock, he has held various executive roles in different companies like BHP Ni West and Orica Mining Services.
The company’s Corporate Vice President of Tanzania, Mr. Raymond Hekima has been working for more than 13 years with Government and Corporate sectors. Currently, Mr. Raymond is responsible for overall business and operations in Tanzania. He is also responsible for managing relationships and interactions with, National Government, Local Government, NGO’s and Community relations.
The company’s Non-Executive Chairman Mr. Richard Crookes is a geologist with over 30 years of executive experience in the resources and investments industry. Previously, he was Investment Director at Mining PE Fund EMR Capital, Executive Director in Macquarie Bank’s Metals & Energy Capital Division and Chief Geologist and Mining Manager with Ernest Henry Mining.
The company recently announced that it has successfully raised $3.0 Mn (before costs) through an oversubscribed placement to institutional and sophisticated investors comprising 46,153,846 new fully paid ordinary shares at $0.065 per share.
Now, let’s have a glance at the company’s stock performance and the return it has posted over the past few months. The shares last traded at a price of $0.066, down by 2.941% during the day’s trade with a market capitalization of ~$36.62 Million as on 12 March 2019. The counter opened the day at $0.069 and reached the day’s high of $0.070 and touched a day’s low of $0.066 with a daily volume of ~1,254,676. The stock has provided a year till date return of 74.36% & also posted returns of 112.50% and -10.53% in the past six- and one-month periods as on 11 March 2019. It had a 52-week high price of $0.093 and touched 52 weeks low of $0.030, with an average volume of ~1,600,031.
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