Gratomic Inc. (TSX-V:GRAT, OTCQX:CBULF) is on the verge of a transformative shift from an exploration venture to a full-fledged mining enterprise, according to executive chair Bruno Baillavoine.
With a focus on its Aukam project in Namibia, the company aims to optimize its processing plant for graphite production, having addressed operational challenges and fine-tuned various components.
“We believe that achieving production at Aukam will fundamentally change the company and enhance its value,” Baillavoine told investors in a statement.
According to Baillavoine, the company made adjustments to certain components of the processing plant at Aukam, including resonance time, flotation columns, slurry pumps, conveyor angles, stir media, polishing mill charge capacities, and tails management. These modifications are aimed at optimizing the overall performance of the plant.
Gratomic is currently exploring avenues to fund the processing plant optimization, Baillavoine added.
The strategic direction entails securing funding to finalize the processing plant, ensuring connectivity among circuits, and commissioning the remaining sections.
Baillavoine stressed the significance of securing the right deal, anticipating graphite production within four months of funding acquisition and profitability within a year thereafter.
To bolster its position, Gratomic has enlisted SP Angel Corporate Finance LLP to facilitate its proposed listing on the Alternative Investment Market (AIM) of the London Stock Exchange, slated for mid to late autumn 2024.
The company also aims to complete a Technical Report for Aukam, complying with NI 43-101 standards, by continuing geological development and executing a drilling program.
In addition to Aukam, Gratomic’s Capim Grosso property represents a key component of the long-term strategy, with plans for a pre-feasibility study in 2024 and subsequent development phases.