Black Rock Mining in trading halt pending an equity raising
Wednesday, 14 August 2019 Black Rock Mining Ltd (ASX:BKT) is in a trading halt ahead of a proposed equity raising announcement. The trading halt will remain in place until the beginning of trade on Friday, August 16, or when an announcement is made to market, whichever occurs earliest. Securities last traded at 7.6 cents. Battery anode pre-cursor production trial The company has been encouraged by positive results from a battery anode pre-cursor production trial earlier this month on a large-scale sample from the Mahenge Graphite Project in Tanzania. The results have exceeded industry standards for battery anode materials with spheronising yields of up to 53% achieved and 99.98% TGC (total graphitic carbon) purity delivered with simple acid leaching. The large-scale spheronising and purification trial was completed in China using 400 kilograms of sub 80 mesh concentrate from Mahenge generated during a March 2019 pilot run. Black Rock also enhanced its definitive feasibility study (DFS) for the Mahenge Graphite Project in July which included a fourth production module and a compressed development schedule – now subject to financing and confirmation of the 16% Tanzanian government free carried interest.