Blencowe Resources said test work on graphite from its Orom Cross project in Uganda is nearing completion on a number of phases key for milestone payments and offtake deals.
An additional 600-tonne bulk sample has been readied for processing at the Jilian New Technology pilot plant facility in China.
This is over and above the initial 100-tonne bulk sample processed with the new sample to be used to confirm the consistency of end products from commercial-scale processing and to assess downstream options.
Tailings test work is also near completion in Western Australia, with results showing that up to 80% of the sulphur can be removed.
In addition, metallurgical test work for other specialised market segments and to consider downstream processing is also being planned.
All of this work is critical for US$5 million of investment in the project from the DFC, a US government agency, and also for offtake deals, Blencowe said.
Cameron Pearce, executive chairman, added: "Blencowe is making progress on all parts of the Definitive Feasibility Study with key actions currently underway in Uganda, China, Australia and the United States respectively.
"Orom-Cross is one of the few graphite projects worldwide with the critical three inflection point factors all in play together, being lowest percentile capital cost, lowest percentile operating cost and highest purity of end products.
"Add to this a very sustainable project with significant ESG advantages and Orom-Cross becomes almost unique.
“These are what will ultimately allow Blencowe to secure offtake contracts, fund the project, and bring Orom-Cross into production once we have completed the DFS.”