- Bass Metals has achieved a monthly record of shipments from its Graphmada Mine Complex
- The company shipped 809 tonnes for October
- Bass says it has a strong interest for its concentrates and says its in a well placed position for this quarter and next
- On market close, Bass is up 28.57 per cent and is trading at 0.9¢ apiece
Bass Metals has reached new record shipments from its Graphmada Mine Complex in Madagascar.
The month of October saw Bass Metals ship 809 tonnes, a new monthly record for the company. It says it has a further 560 tonnes of forwarding sales which are committed to being shipped by the end of the December quarter.
Bass says this leaves the company well placed to receive material cash flows for the December quarter, along with tax rebates for expenses already incurred in previous quarters.
The company continues to receive a strong level of interest for its concentrates and is approaching a status of having all current stock contracted for sale. Bass says this leaves it well placed for this quarter and the next.
The Graphmada Mine is located in Madagascar and hosts four known graphite deposits.
In October, Bass was able to complete its first and substantial sale of its graphite concentrates into China and expects to subsequently ship this order in November.
“Bass expects demand for its product to continue to grow in this region and is encouraged as to the volumes requested and potential pricing,” The company told the market.
The exploration company has already qualified its concentrates for sale into the key markets of Europe, India, USA and now China, Bass is currently working on placing concentrates into the Korean and Japanese markets.
CEO Tim McManus is pleased with the results.
“We are delighted with the team’s efforts in progressively broadening our customer base and exceptionally pleased that our concentrates are being recognised as consistent in quality and Bass as a reliable supplier,” Tim said.
On market close, Bass is up 28.57 per cent and is trading at 0.9¢ apiece.