Comet Resources Ltd (ASX:CRL) shares jumped to their highest point in more than two-and-a-half years on Tuesday, after receiving results described as “exceptional” from battery test-work of its graphite material.
As reported by Proactive, Comet sent a bulk sample of Springdale graphite concentrate to a specialist facility in Germany, where it was dried and prepared for tests.
The results demonstrated the suitability of Springdale’s graphite to undergo micronisation in hammer mills, spheronisation and purification processes to the high specification levels necessary to produce precursor material for use in the manufacture of lithium-ion battery anodes.
Great leap forward
Comet managing director Matthew O’Kane described the results from the lab in Germany, with purification up to 99.99% graphite content, as “fantastic”.
And investors agreed, driving shares as much as 44% higher intraday to 3.6 cents with more than 179 million changing hands over the course of the day.
“They confirm graphite material from Springdale has met key battery anode grade benchmarks as well successfully producing a high-value jet milled product,” O’Kane said.
“These results greatly increase the prospects for future development of the project and we will now assess future work programs, which include work to further optimise the processing of spherical graphite.
“With the continued push towards electrification, demand for these battery anode grade products should grow exponentially.”
Test-work details
Three different processes were tested in the lab:
- Purification to carbon content above 99.9%, as these carbon levels pave the way for high tech applications like usage in batteries;
- Micronising for products that require well defined small flake graphite particles for their end uses; and
- Spheronisation for usage in lithium-ion battery anodes for the rapidly expanding market for EVs due to the global drive to de-carbonise the transport network.
Test-work streams were designed to confirm the suitability of graphite flake from the high-grade zone at Springdale as a precursor material for these high value-added products.
Springdale graphite was also tested for performance in jet milling - due to the fine flake size, the material was easy to micronise in a jet mill with good throughput and low energy consumption.
The product was assessed as achieving industry standards for jet mill specification; jet-milled products, like lithium-ion battery anode precursor material, can also achieve premium pricing in graphite markets.
Results of the testing confirmed Springdale’s graphite material is high-value and suitable for value-added processing, a key factor for future project economics.
Comet described the fact that its' Springdale graphite product has also performed well in jet-milled tests, in addition to testing for generation of lithium-ion battery anode precursor materials, as “exceptional”.
On list of critical raw materials
Graphite suitable for battery anode production achieves premium pricing in graphite markets, making it a highly sought-after product.
The inclusion of natural flake graphite on the European Union (EU) list of critical raw materials highlights the importance of these products as part of the push to reduce global carbon emissions.
Comet’s Springdale Project in WA, a stable tier-one mining jurisdiction, is strategically well placed to provide such products.
- Daniel Paproth