Bass Metals Ltd is the 100% owner of the Graphmada Large Flake Graphite Mining Complex located in Eastern Madagascar. All mining and processing infrastructure, including roads, bridges, power, camp, tailings dams are in place, along with 40-year mining permits and 20-year landholder agreements. The Complex sits adjacent to the main national highway and is 110km to the country’s only deepwater port at Toamasina.
The Complex has a unique soft rock (regolith-hosted) graphite deposit that is characterized by greater than 90% large flake graphite in-situ. Large flake graphite (greater than 180 microns) hosted in soft rock allows the large flake to be mined cheaply and processed economically without the use of drilling, blasting and crushing, preserving the large flake through the mining and processing stages of production.
Graphite hosted in hard rock (also known as ‘fresh rock’) requires higher cost drilling, blasting and crushing operations, which significantly reduces the size of the graphite flakes recovered. All hard rock graphite mines have a majority of their production in the fine flake category (less than 180 microns). Fine flake graphite concentrates do not attract the same premium pricing as large flake concentrates due to the unique applications of large flake graphite in both traditional markets and new age specialty carbon applications, such as expandable graphite in new age fire retardants.
The percentage of concentrates that can be produced and sold above 180 microns (large flake) directly impacts the average price received for concentrates produced and sold, sometimes referred to as ‘Basket Price’. Our focus on growing the percentage of large flake graphite production directly grows our ‘Basket Price’ and the cash margin of our business.
As a premium asset, Graphmada has consistently produced clean, high purity large flake concentrates, maintaining a 42% large flake concentrate production average, with periods over 60%. The amount of large flake graphite concentrates produced as a percentage of overall production is the key metric of our business, and underpins the premium quality of the Mineral Resource from which our concentrates are mined and produced.
Consistent supply of high quality large flake graphite from a low cost mine such as Graphmada is essential to the future of the global supply of specialty carbons, and as such is often referred to as a ‘Critical Mineral’ in strategic supply discussions.
Graphmada production highlights to date:
✓ Achieved successful production ramp-up
✓ >96% fixed carbon grade achieved
✓ 42% average large flake concentrate production
✓ Irreplaceable intellectual capital gained
✓ Zero tonnes penalized or rejected to date