Join our daily newsletter At The Bell to receive exclusive market insights
- Comet Resources (CRL) spikes on the ASX today after kicking off test work in Germany on natural flake graphite from its Springdale Graphite Project in WA
- The specialist German lab will test how the Springdale graphite performs when subjected to purification, micronisation, and spheronisation processes
- These processes will help determine whether or not the graphite product meets industry standards for use in the electric vehicle battery anode markets
- At the same time, a sample of the material has been given for evaluation to a third-party producer of natural flake graphite products for battery anodes
- Shares in Comet Resources are up 10 per cent and trading at 2.2 cents each at 2:58 pm AEST
Comet Resources (CRL) has spiked on the ASX today after kicking off test work in Germany on natural flake graphite from its Springdale Graphite Project in WA.
The junior explorer said this morning that concentrate material produced in Perth last month has been air-freighted to a specialist testing provider in Germany. The material has arrived on-site and been dried and prepared for testing, with test work now underway.
The specialist German lab will test how the Springdale graphite performs when subjected to purification, micronisation, and spheronisation processes. According to Comet, these are key steps for the processing of natural graphite products for the electric vehicle (EV) battery anode markets.
Essentially, the German test work will determine whether or not the graphite product from Springdale meets industry standards for use in battery anode production.
At the same time, a sample of the material has been given for evaluation to a third-party producer of natural flake graphite products for battery anodes.
Comet Managing Director Matthew O’Kane said the company was testing its graphite material both for its own purposes and for a third-party anode material producer.
“The results of these test work programs will determine the suitability of Comet’s natural flake graphite from the high-grade zone at Springdale for use in the manufacture of battery anodes for electric vehicles,” Mr O’Kane said.
“With the continued push towards an electrified transport network, demand for these graphite products is expected to continue to grow.”
According to Comet, “excellent” grades and recoveries from initial tests at the Springdale project earlier this year prompted the company to begin producing a concentrate sample for further testing.
The Springdale project lies just 30 km east of Hopetoun in south Western Australia and is made up of three tenements spanning 198 sqkm.
On top of Springdale, Comet also owns the Santa Teresa Gold Project in Mexico, the Barraba Copper Project in New South Wales, and a string of gold and copper projects in the Northern Territory.
Shares in Comet Resources were up 10 per cent and trading at 2.2 cents each at 2:58 pm AEST. The company has a $14.5 million market cap.
