Next Graphite, Inc. announced that its joint venture partner has secured an LOI in which the venture will supply up to 5,000 metric tonnes of graphite material to a vertically integrated graphite producer over the course of the next year. First shipment is anticipated in July of this year. Graphitic material grading between 40 and 50% Cg (carbon as graphite) will be delivered over the course of the next year under the terms of the letter of intent.

It is expected that a first shipment of between 2,000 and 3,000 tonnes of graphitic material will be made in July 2016, prior to which the partners will supply a 1.6 tonne sample to allow the producer to run the material through its mill and make any adjustments necessary to treat the Aukam material on a go-forward basis. This material comes from the previously announced bulk sampling program. During a 500 tonne bulk sampling program in 2014, Next Graphite was able to stockpile and grade 240 tonnes of graphitic lumps with an average grade of 41.6% Cg within a range of 17.0% to 81.8% Cg.