- Hengda merger unable to be completed as Hengda equity ownership materially different and undisclosed details of further loan terms discovered, significantly altering the benefits of a merger
- Hengda being re structured with extended facilities and remains a key flake processor
- LMB's is in advanced discussions to secure repayment of the deposit and possibly its costs
- Joint venture proposal under consideration with key high technology flake graphite anode producer.
Processing of specific raw flake graphite material into battery materials (usually the anode) is a highly skilled and technical process. It consequently attracts a significant mark up in value from the raw material. Demand for processed specific flake and resultant products such as anode’s, spherical anodes, super capacitors, cathode ribbons and flake graphite strips has increased dramatically in response to the growth of the electric vehicle and renewable energy markets. This growth, and the enormous revenue potential the growth brings was the logic behind the merger with Hengda.
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