Sarytogan Graphite - Quarterly Activities Report for June 2024
SGA (SGA) Share Update July 2024 Wednesday 17th
Sarytogan Graphite Announces Successful Product Tests and Upcoming Mining Licence
Sarytogan Graphite Limited (ASX: SGA) has released its Quarterly Activities Report for the period ending 30 June 2024, highlighting significant advancements in product development and progress towards obtaining a mining licence.
Instant Summary:
- Extensive product development test work completed on various Sarytogan Graphite products.
- Notification from the Kazakh Competent Authority regarding the pending mining licence, subject to environmental permit.
- Pegging of the Bainazar Copper Exploration Licence.
- Pre-Feasibility Study on track for completion by September 2024.
Product Development
Sarytogan Graphite has made significant strides in product development, completing extensive test work on its graphite products. The tests included applications in alkaline and lithium primary battery cathodes, lithium-ion battery anodes, lead acid battery anodes, nuclear specifications, and lubricants. These tests demonstrated superior performance in various applications, showcasing the high quality and versatility of Sarytogan Graphite.
For instance, the lithium-ion battery anodes with USPG showed reversible capacity superior to synthetic graphite sustained over 140 cycles, while the CSPG anodes exhibited high performance extrapolated to 1000 cycles. Additionally, the lead acid battery anodes tapped into a high-volume, high-margin market segment, and the nuclear specification was confirmed with an Equivalent Boron Content (EBC) of 1.1ppm assayed.
Mining Licence and Exploration
Sarytogan received notification from the Kazakh Competent Authority that the Sarytogan Mining Licence will be granted, pending the acquisition of an environmental permit. This is a crucial step towards the company's goal of mining and producing high-grade graphite. Furthermore, the company has pegged the Bainazar Copper Exploration Licence, expanding its exploration footprint.
Pre-Feasibility Study
The Pre-Feasibility Study for the Sarytogan Graphite Project is progressing well and is on track for completion by September 2024. This study is expected to provide detailed insights into the project's potential and guide future development and investment decisions.
Corporate and Financial Overview
As of 30 June 2024, Sarytogan Graphite had A$2,519,000 in cash. The company spent $1,065,000 on exploration and evaluation during the quarter, primarily on drilling, assay, metallurgical, and study expenses. The company continues to manage its finances prudently while advancing its strategic objectives.
The successful product tests and the anticipated mining licence approval are positive developments for Sarytogan Graphite. These advancements are likely to boost investor confidence and positively impact the company's stock price. The progress in the Pre-Feasibility Study also adds to the company's credibility and future growth prospects.
Investor Reaction:
Investors and analysts have responded positively to the news, noting the superior performance of Sarytogan's graphite products and the significant progress towards obtaining a mining licence. The company's strategic focus on high-margin markets and advanced applications is seen as a strong positive for future growth.
Conclusion:
Investors should keep an eye on the completion of the Pre-Feasibility Study and the final approval of the mining licence. These milestones will be critical in determining Sarytogan Graphite's future trajectory and potential for long-term growth. Staying informed about the company's developments and strategic moves will be essential for making informed investment decisions.