Total Graphite PLC (LSE:TGR, OTCQX:TGRHF) has temporarily suspended production at its Vatomina graphite mine in Madagascar while it completes drilling and operational improvements, targeting a restart above 1,000 tonnes per month from December 2026.
The work follows an independent technical review that identified additional requirements across geology, mine planning, infrastructure and plant optimisation. Five diamond drill holes have been completed, with the programme expected to run through the fourth quarter.
Total Graphite had US$1.5 million of unrestricted cash at 16 July and US$3.8 million in total cash, including a US$2.3 million bank guarantee supporting its Mozambique mining projects.
Chairman Christian Dennis said completing the optimisation work before restarting production should establish “a more robust foundation for future operations”.
Alongside Vatomina, the company is updating the definitive feasibility study for an initial 50,000-tonne-per-year operation at Montepuez in Mozambique. It has also opened data rooms to interested parties and received several non-binding funding and strategic proposals.
