Armadale Capital hailed 'highly encouraging' results from its metallurgical test-work programme on representative composite samples from its Mahenge Liandu graphite project in Tanzania.
'Results confirm high-quality graphite flake of up to 97.1% purity can be produced, further reinforcing and validating the Projects robust economics,' the company said.
The metallurgical test-work outcome had supported ongoing discussions with prospective Chinese off-take and project finance partners, the company added.
Armadale Capital also said it had, ahead of schedule, moved into plant design work which was the next critical phase in the graphite projects development.
At 9:51am: (LON:ACP) Armadale Capital PLC share price was +0.1p at 1.23p