Other potential reasons for the recent price movement in the company’s securities and recent trading include:
i. Orior Capital Company Commissioned Research Report – on Friday 19 January 2019, the Company released a paid for report prepared by Orior Capital via email and via its website www.blackrockmining.com.au
The email covering note confirmed that the report was commissioned by the Company and “was part of our financing strategy and post the release of our stunning Definitive Feasibility Study, Orior Capital was commissioned by Black Rock Mining to undertake a review of the business and graphite sector.”
For further information please refer to the Orior Capital report on Black Rock Mining’s website.
ii. Offtake Agreements – on 7 January 2019, the Company announced it had secured a third binding offtake agreement. The Combined tonnage of all three offtake agreements is up to 205k tonnes per annum of product by year three as outlined in the table below:
iii. Mining Licence – The Company was granted its Environmental Approvals by way of a positive Environmental Impact Assessment (EIA) for the development of its Mahenge Graphite Project as announced to the ASX on 5 September 2018. As part of the EIA announcement Black Rock confirmed that post Definitive Feasibility Study (DFS) completion, the Company would lodge a Mining Licence application. The Mining Licence applications were lodged 9 November 2018, through the Tanzanian Mining Cadestre Portal HTTPS:/Portal.Madini.go.tz. The licence status was upgraded from submitted to recommended on 10 January 2019.
The Company notes that post the announcement of the Tanzanian Mining Code update to the mining regulations during 2017/2018, the Tanzanian authorities have commenced routine processing and approval of new and renewal of mining licences including those submitted by Australian mining companies. The Company understands there are meetings scheduled this week in Tanzania where new mining licences may be issued, which may or may not include Black Rock’s application.
Hi GregglesHigher highs and higher lows for BKT in the last few days.
Rather than speculate about the reasons, given there has been no price sensitive news since 7 January, I'll reproduce the company's response to the ASX Price and Volume query which was announced yesterday:
View attachment 91559
GRAPHITE : Trading at 20.5c for a market cap of $177m. Elon Musk has been fretting about graphite supplies for the anode side of batteries. He should give Black Rock a call.
It has been methodical about bringing its Mahenge project in Tanzania into production. It’s capable of meeting 5% of global demand for an initial 26 years. The government is now on board with a free-carried 16%, removing previous uncertainty on the issue to make project financing all the easier to arrange.
The Bin.So where to from here?
More Bitter than sour, but either way the grapes were not to my liking . (See post #54).But, but, it's got black rock in the name... sour grapes eh Muck?
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