Total Group Ore Reserve of graphite contained 4.24 million tonnes at 12.8% Total Graphitic Carbon (“TGC”) and total Group Mineral Resources of graphite contained 9.75 million tonnes at 14% TGC, containing 1.36 million tonnes of graphite.
During FY2020, MRC continued to expand its exploration portfolio with new near-mine prospects in Norway and South Africa.
Mineral Commodities Ltd advises that it will not be in a position to complete the issue of securities approved by shareholders at its Annual General Meeting in July 2020 by the amended deadline of 28 February 2021. Additionally, the Company has suspended the secondary listing of securities on the Oslo Stock Exchange in Norway.
Skaland's financial and operating performance was affected by unplanned maintenance and delayed restarting of production in the December quarter, with limited sales revenue. Production recommenced during the quarter after a longer than anticipated maintenance shutdown with increased costs driven by the extensive maintenance work done on the plant mills to bring them back into production.
The Company sold 1,314 tonnes of graphite concentrate during the quarter compared to 1,088 tonnes in the prior quarter, reflecting increased production. Total product produced and bagged was 992 tonnes for the quarter, a 202.4% increase above the previous period's results.
Landowner agreement signed over Hesten and Vardfjellet graphite prospects.
Located 15km from existing Skaland Graphite Operations and only 4km west of Bukken prospect.
Strong geophysical anomalies and surface mapping/sampling results confirm high prospectivity of Hesten and Vardfjellet.