Black Rock Mining Ltd (ASX:BKT) has revealed an increase in holding from substantial shareholder Copulos Group to 20.38% from 18.66%.
Notably, Copulos Group is directly related to the company’s former chairman and non-executive director Stephen Copulos.
The holdings increase follows newsflow earlier this weak revealing that Black Rock had signed a third off-take agreement for its flagship Mahenge Graphite Project in Tanzania.
READ: Black Rock Mining’s third deal takes graphite offtake to 85% of planned annual production
This recent deal along with the two prior off-takes could represent about 85% of proposed annual natural flake graphite production from Mahenge.