|Share Name||Share Symbol||Market||Type||Share ISIN||Share Description|
|Armadale Capital PLC||LSE:ACP||London||Ordinary Share||GB00BYMSY631||ORD 0.1P|
|Price Change||% Change||Share Price||Bid Price||Offer Price||High Price||Low Price||Open Price||Shares Traded||Last Trade|
|Industry Sector||Turnover (m)||Profit (m)||EPS - Basic||PE Ratio||Market Cap (m)|
|Gas Water & Utilities||0.0||-1.0||-1.9||-||3.63|
Armadale Capital Plc Excellent Test Results for Mahenge Liandu Graphite Concentrate
UK Regulatory (RNS & others)
Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment Company
21 April 2017
Armadale Capital Plc ('Armadale' or 'the Company')
Excellent Test Results for Mahenge Liandu Graphite Concentrate
Armadale, the AIM quoted investment company focused on natural resource projects in Africa, is pleased to announce that test work results received from graphite concentrate samples underpin the commercial viability of graphite mineralisation at the Mahenge Liandu Project in Tanzania ('the Project'). The results of the test work confirm the expandability of the graphite mineralisation at the Project, which increases the range of potential commercial applications, including the highly prospective battery market. The Project has a high-grade JORC compliant inferred mineral resource estimate of 40.9Mt @ 9.41% Total Graphitic Content ('TGC'), of which at least 32Mt has an average grade of 10.47% TGC.
-- Test work conducted in Germany has returned encouraging results with
expansion up to 480 cm³/g
-- All size fractions above 75µm showing expandability over 170
-- Results underpin the Project's ability to produce high quality,
commercial graphite concentrates which should be suitable for a number
-- Ongoing test work to upgrade the purity of the graphite is underway -- Preparations for a 2,500m diamond and Reverse Circulation drill
programme are well advanced with drilling expected to commence in
early May 2017 - the drilling programme is intended to expand the size
of the resource and enhance the category to Indicated
Nick Johansen, Director of Armadale said, "We continue to make excellent progress in proving up the commercial viability of Mahenge Liandu and this test work marks another step in the right direction. With expansion of up to 480 cm³/g achieved, we are pleased to confirm that our graphite concentrate is suitable for use in the expandable graphite market for all size fractions above 75µm which is a significant achievement given that a recent 10kg sample contained over 92% of graphite 75µm and above in size. Our focus is now on proving up the purity of the concentrate and building upon the resource size and quality. With this in mind we look forward to updating the market on our upcoming drill programme in due course."
Initial expandability test work was conducted on a 150g sample of graphite concentrates from the Mahenge Liandu Project. The results show encouraging expandability, especially in the larger size fractions including 480 cm³/g > 500 µm, 420 cm³/g for > 500 µm and 380 cm³/g> 180 µm. The results for all size fractions are shown in Table 1 below at two different temperatures that were used.
Table 1 Results of expandability test work at 800 °C and 1000 °C
Flake Size (µm) Expansion Volume at 800 °C Expansion Volume at 1000 °C > 500 µm 440 cm³/g 480 cm³/g > 300 µm 370 cm³/g 420 cm³/g > 180 µm 300 cm³/g 380 cm³/g > 106 µm 210 cm³/g 230 cm³/g > 75 µm 165 cm³/g 170 cm³/g < 75 mesh 115 cm³/g
Expandable graphite is made by heating graphite concentrates to cause the graphite crystals to split into graphene layers into an expanded or "fluffy" form. The expanded graphite is then rolled into continuous sheets which have excellent conductivity and thermal dissipation properties.
Expandable graphite is essential in the manufacture of:
-- Graphite foils used in electronics products for heat dissipation -- Graphite foil used in high-temperature applications such as gaskets
and thermal barriers
-- Thermal insulation with flame retardant properties -- Fire retardant paints
The graphite concentrate used to produce the expandable graphite was primarily medium to large flake with 85.2 % in the >106 µm. The flake size distribution is shown in Table 2below;
Table 2 Flake size distribution of graphite concentrate used in the test work
Size fraction (µm) Size fraction % > 500 9.80% > 300 15.50% > 180 35.10% > 106 24.80% > 75 6.40% < 75 8.40%
Initial test work continues to indicate the Mahenge Liandu Project is capable of producing high quality graphite concentrates. A more detailed metallurgical test work programme will be conducted as part of the upcoming exploration programme.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
For further information please visit www.armadalecapitalplc.com or contact:
Enquiries: Armadale Capital Plc +44 20 7236 1177 Nick Johansen Nomad and broker: finnCap Ltd +44 20 7220 0500 Christopher Raggett / Simon Hicks Joint Broker: Beaufort Securities Limited +44 20 7382 8300 Jon Belliss Press Relations: St Brides Partners Ltd +44 20 7236 1177 Susie Geliher / Charlotte Page
Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.
The Company owns the Mahenge Liandu graphite project in south-east Tanzania, which is now its main focus. The Project is located in a highly prospective region with a high-grade JORC compliant inferred mineral resource estimate of 40.9Mt @ 9.41% TGC. At least 32Mt of this resource has an average grade of 10.47% TGC, one of the largest high-grade resources in Tanzania, and work to date has demonstrated Mahenge Liandu's potential as a commercially viable deposit with significant tonnage, high-grade coarse flake and near surface mineralisation (implying a low strip ratio) contained within one contiguous ore body.
Other assets Armadale has an interest in include the Mpokoto Gold project in the Democratic Republic of Congo and a portfolio of quoted investments.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170421005194/en/
This information is provided by Business Wire
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April 21, 2017 04:31 ET (08:31 GMT)
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