Armadale Capital Plc (LON:ACP) Matt Bull Technical Director
Oct 15, 2019, 05:09 PM
After today announcement of a resource upgrade confirms high-grade near-surface mineralisation from the Mahenge Liandu Graphite Project in Tanzania, we spoke with Matt Bull to get an update from the company.
Nick Johansen Director of Armadale said: “This latest upgrade is extremely welcome news and there are a number of clear positives to take from it. Firstly, we now have materially higher confidence in the Mineral Resource Estimate with 11.5Mt @ 10.5% in the Measured category; and secondly, it has demonstrated the potential to mine higher volumes of graphite in the early years at a higher EBITDA margin to enhance the Project’s overall upside. This upgrade reflects the substantial work undertaken by our team on the ground in Tanzania this year and is a clear demarcation as we continue to transform from explorer to emerging producer.”