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

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by Jessica Amir

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Last Updated: 19/06/2019 12:32 PM

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 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.