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Oakdale Resources soars on strong graphite study


Oakdale Resources (ASX:OAR) shares closed 28.6% higher yesterday after Scoping Study results for the company’s Oakdale graphite project in South Australia indicated a payback period of only nine months.

Stock in the company will open today at A$0.18.

Other highlights of the study contemplated a production cost of only $286 per tonne and a net present value of $170.2 million over a tight three-year mine life.

This proposed operation would run at a mining rate of 2 million tonnes per annum and an output rate of 94,500 tonnes per annum.

The initial graphite resource has been outlined over a distance of 1,500 metres and a
width of up to 500 metres.

Mineralisation is approximately 20 metres thick in the saprolite zone with a maximum depth of 55 metres.

Resources at Oakdale total 13.5 million tonnes at 3.3% total graphitic carbon (TGC), with a high-grade component of 6.3 million tonnes at 4.7% TGC.

Oakdale is a relatively new entrant to the graphite sector, but with these results at a project in Australia (and therefore bearing less macro risk), it is a company worth watching.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Oakdale Resources Ltd

Price: 0.002 AUD

Market: ASX
Market Cap: $1.13 m

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