Bass Metals signs a sales agreement with Possehl

2017-06-20

Jun. 16, 2017 – Bass Metals announce that it has signed a sales and purchase MOU for 50% of its forecast stage 1 premium graphite concentrate production for 2018.

The concentrates will be produced at Bass Metals’ fully owned Graphmada Graphite Mine located in Madagascar. The producing mine is currently being upgraded to 6000 tonnes per annum (Stage 1).

Possehl Erzkontor GmbH & Co. KG, based in Europe, intends to purchase 3,000 tonnes per annum of graphite concentrates from the company, for a period of three years. The material will be sold by Possehl into refractories, foundries and crucibles markets throughout Europe at a premium pricing compared to other market segments such as battery applications.

Bass is continuing to make progress towards refurbishing the Graphmada mine with the aim of re-commissioning this calendar year as a profitable producer of high purity graphite concentrates.

The Graphmada mine has 40-year mining permits in place, containing four premium quality, large flake, graphite deposits. Bass is planning to expand production to greater than 20,000 tonnes per annum (Stage 2) of graphite concentrate by late 2019.

Bass Metals Ltd. is one of only three publicly listed graphite producers in the world.