Bass Metals to boost production after sales deal inked

Company News

by Jessica Amir

Bass Metals (ASX:BSM) which is just one of three publicly listed graphite producers in the world, has inked an agreement to sell 50 per cent of its stage 1 Graphmada Graphite production.

The three-year deal with a European company, Possehl, involves the company buying 3,000 tonnes per annum of its 6,000 tonne annual production.

Bass says this coupled with its ramp up in production, will see it become a profitable producer, with stage 2 production to grow to 20,000 tonnes per annum.

The company that it signed the sales agreement with generates €350 million per year and has been operational for 100 years.

Shares in Bass Metals (ASX:BSM) are trading 4.17 per cent higher to 1.25 cents.
  

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.