Why Black Rock Mining (ASX:BKT) shares are up 25% today

September 08, 2022 09:03 PM PDT | By Khushboo Joshi

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Why Black Rock Mining (ASX:BKT) shares are up 25% today — Image source: © 36clicks | Megapixl.com

Key highlights from the deal announcement

As per the deal, both firms will come together in forming a new supply chain to fulfil the demands of the US and European battery industries.
Now Black Rock Mining can start construction of Module 2 simultaneously with Module 1. Urbix will be facilitating Black Rock with a considerable prepayment and/or equity support for exclusivity of offtake of 100 natural flake graphite fines from Module 2.
The deal underlines the strength of underlying demand for Mahenge’s high-quality graphite concentrates.
The agreement also suggests that Black Rock’s board is quite methodical in increasing the shareholder value around the establishment of alternative supply chains suitable for American and European battery makers.
As per the deal, Black Rock has given Urbix trade exclusivity for Module 2 fines for 150 days.

Meanwhile, Urbix processing technology will deliver some vital benefits to Black Rock and its customers. These include:

Materially lower energy consumption;
Elimination of hydrofluoric acid use;
Higher product yield;
Ability to incorporate at the particle level appropriate levels of synthetic graphite material to produce a blended anode material as a drop-in product for cell manufacturers;
Extensive third-party assessment confirming Urbix’s anode electrochemical performance.

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