Greenwing Resources presents at Noosa Mining Conference following MRE update

ASX-listed battery metals development firm Greenwing Resources took part in the first day of the Noosa Mining Conference in Queensland, after announcing a significant increase to the mineral resource estimate (MRE) at its Graphmada Mining Complex in Madagascar.

Greenwing’s CEO Craig Lennon delivered a 10 minute presentation to delegates at the Australian industry get-together, outlining the company’s lithium and graphite projects in Argentina and Madagascar.

Investors were keen to gather more detail on the Graphmada project following last week’s announcement that the MRE had nearly tripled to 61.9 million tonnes (Mt) at 4.5% fixed carbon, with total contained graphite greater than 2.7 Mt.

The company is now conducting feasibility studies focusing on expanded production levels, given the quantum of the newly discovered mineralisation at Graphmada. A concept study is to be completed during the current quarter to determine whether the project can supply both advanced material and lithium battery anode markets.

“This is a fantastic result, giving Greenwing the opportunity to potentially supply traditional industrial markets and the advanced materials market from our soft rock resource and the lithium battery anode market from our hard rock resource,” Lennon said.

“The lithium battery anode market is forecast to move into a structural deficit by mid-decade if not before, with end users looking to secure raw material for their strategic supply chains. We will continue our focus on completing feasibility studies, while actively looking for partners that can help advance the project.”

@RGNonline