Bass Metals (ASX:BSM) quarterly update on graphite and lithium projects

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by Jessica Amir

Bass Metals Limited (ASX:BSM) says post optimisation and refurbishment of its flagship mine, Graphmada, in Madagascar, it will produce 6,000 tonnes per annum in 2018, with a ramp up in 1Q2018.

Bass Metals’ Graphmada mine has a 40-year mining lease. It will initially produce 500 tonnes per month in stage one, and 20,000 tonnes after that of graphite flake (stage two).

Bass Metals is receiving a lot of inquiry from buyers in Japan, Europe, USA. Bass Metals recently inked a sale agreement for 3,000 tonnes per annum that starts next year (50 per cent of stage one production). And with Large flake China mines being closed, Bass Metals CEO Tim McManus says demand for its production will only grow.

Tim McManus says its other projects are also very promising, including its Andapa graphite project, and its Lithium project (Millie’s Reward), which has shown 6-7 per cent lithium from Due Diligence.

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.