BlackEarth Minerals NL (ASX:BEM) has been granted a trading halt pending an announcement in connection with drilling and assay results from its recent exploration program.
BEM securities will remain in trading halt until the beginning of regular ASX trade on Tuesday, August 24 or when an announcement is made to market – whichever occurs first.
Before the trading halt was granted shares were up more than 9% to 12 cents from the previous close of 11 cents.
Maniry pilot program results
On August 9 the company rounded out its large-scale Maniry graphite pilot program, with results indicating the Madagascan project hosts some of the world's highest-grade, large and jumbo flake product.
Overall, the pilot program confirms the Maniry large flake graphite concentrate can feed its proposed expandable graphite production plant with JV Partner Metachem, in addition to its suitability for lithium-ion batteries.
Looking ahead, results will support BEM as it designs the final graphite plant at Maniry and fast-tracks a definitive feasibility study (DFS).
Three Tier 1 downstream, global processing companies, which are considered major suppliers to the electric vehicle (EV) industry, have also requested plant processing samples.