First Graphite (ASX:FGR) is an advanced materials company and we are developing high quality graphene manufacturing capabilities and intellectual property associated with the future applications of the graphene products.
We were pleased to announce on 12 July 2017 that we had been granted our works approval by the Department of Environment Regulation, which enables the construction of our commercial graphene production facility, to commence (at Henderson in Western Australia).
The company has sufficient cash to fund the construction of this development. We are in the enviable position of having a graphene production which is low cost, in terms of capital establishment and in operating cost. Construction tenders have been approved. Construction will be completed by the end of calendar year 2017.