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Triton Minerals (ASX:TON) - Executive Director, Andrew Frazer
Executive Director, Andrew Frazer
Source: Triton Minerals
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  • Triton Minerals (TON) says it’s seen compelling results from a strategic review of its proposed pilot plant at the Ancuabe Graphite Project
  • Triton engaged CPC Project Design to assist with an investigation into the development and construction of its commercial pilot plant
  • The company’s focus is on bringing its flagship project into production at a small scale for low capex on a commercially viable basis
  • Triton is now actively exploring alternative funding models and has begun discussions with Western debt providers
  • Triton Minerals last traded at 4 cents on November 25

Triton Minerals (TON) said it’s seen compelling results from a strategic review of its proposed pilot plant at the Ancuabe Graphite Project.

The company’s focus is on bringing its flagship project into production at a small scale for low capex on a commercially viable basis.

Triton engaged CPC Project Design to assist with an investigation into the development and construction of the commercial pilot plant (CPP). The company noted the report has already returned positive results.

The pilot plant desk top study envisaged a 250,000 tonnes per annum (tpa) plant capable of producing 10,000tpa of graphite concentrate.

The initial capital expenditure is expected to fall between US$32 million to $52 million (roughly A$44.5 million to A$72 million). This is significantly less than the US$99 million (around A$137 million) estimate for the 60,0000 tpa plant which was determined in a definitive feasibility study.

Triton said it will seek to significantly reduce its capex by investigating the use of alternative funding models, instead of 100 per cent equity purchase. This will be through the use of contractors, vendor financing arrangements for certain parts of the processing plant and leasing for mobile equipment.

Triton Executive Director Andrew Frazer said he is pleased with the rapid progress delivered in a short period of time since the strategic review commenced in late October.

“The modular design of the proposed commercial pilot plant is critical as it will enable shorter timeline to first production, with the ability to scale up to the large scale 60,000tpa of concentrate production as envisaged in the DFS,” he said.

“What is important now is that Triton constructs the CPP in Mozambique as soon as possible so that we can commence production of large flake, high purity graphite for both fire retardant and battery markets.”

Triton said it’s working towards establishing the Ancuabe Graphite Project as the global graphite-industry benchmark through offering the lowest cost production globally via diversified graphite product range.

The company is now actively exploring alternative funding models and has begun discussions with Western debt providers, which was not initiated in the past.

Triton last traded at 4 cents on November 25.

TON by the numbers
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