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Armadale Capital said an updated mine plan had been completed for its Liandu graphite project in Tanzania that would see its output double via a staged ramp up.
Consultancy group BatteryLimits had completed a plan incorporating a ramp up to 0.5m tonnes of processed ore per annum after two years and to 1.0m tonnes after four years.
The increased production profile was anticipated to significantly transform definitive feasibility study economics currently being finalised, the company said.
A staged ramp up would take advantage of near surface high-grade mineralisation for the first four years and then scale up throughput in later years.
At 1:08pm: (LON:ACP) Armadale Capital PLC share price was +0.55p at 2.7p