ALBA MINERAL RESOURCES PLC The testwork has confirmed that the graphite content of Amitsoq ore is very high, amongst the highest found in flake graphite deposits globally. It has also demonstrated that a >96% graphite concentrate can be produced and that many of the inherent characteristics exhibited by Amitsoq graphite are positive.
Accordingly, subject to certain follow-up testwork which is recommended, the testwork indicates the suitability of Amitsoq graphite as feed material for Lithium-Ion Batteries ('LIBs'), the fastest growing market for flake graphite globally.
About Graphite
Graphite is a non-toxic, chemically inert material. Additional characteristics of graphite are its high electric and thermic conductivity, excellent lubricity and exceptional thermal shock resistance. These characteristics mean that graphite is widely used in a variety of industrial applications. However, graphite is also an essential component in certain critical technological advances that are at the forefront of the drive to reduce global CO 2 emissions. In particular, graphite is the anode material in lithium-ion batteries which are used to power electric vehicles and domestic electricity storage systems.
About ProGraphite
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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.
Without prejudice to the generality of the foregoing, uncertainties also exist in connection with the ongoing Coronavirus (COVID-19) pandemic which may result in further lockdown measures and restrictions being imposed by Governments and other competent regulatory bodies and agencies from time to time in response to the pandemic, which measures and restrictions may prevent or inhibit the Company from executing its work activities according to the timelines set out in this announcement or indeed from executing its work activities at all. The Coronavirus (COVID-19) pandemic may also affect the Company's ability to execute its work activities due to personnel and contractors testing positive for COVID-19 or otherwise being required to self-isolate from time to time.
Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
Contact:
George Frangeskides
Tel: +44 20 3950 0725
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