Gratomic Inc. executive chairperson Bruno Baillavoine says the Aukam Graphite Project will produce within four months if they receive funding.
The Canadian company is developing the Aukam Graphite Project in southern Namibia, near the port city of Luderitz.
Baillavoine says it is more important to do the right rather than the quickest deal at this junction.
“We expect Aukam to become profitable within 12 months of commencing production. This major objective will set Gratomic apart from many graphite producers,” he says.
He says the first objective is to secure the optimal funding necessary to complete the last element of the processing plant and provide operating capital.
Gratomic has already acquired the stirred media mill, and the polishing mill, part of the refining circuit, is already on site and set up for production requirements.
Additional pumps are available for immediate acquisition, and they need to connect the different circuits.
The crushing circuit, the rod mill, and most flotation circuits have already been commissioned for commercial readiness before the refining, drying, and bagging circuits are commissioned.
According to Baillavoine, Gratomic has spent over US$30 million to build the plant and has no material debt.
Baillavoine says Gratomic Inc. has achieved many key milestones – so much so that it is on the cusp of moving from an exploration company to a fully-fledged mining company.
He says achieving production at Aukam will fundamentally change the Gratomic Inc and enhance its value.
“We successfully manoeuvred through our operational readiness to date and eliminated flaws. During this phase, several changes were made to the circuit, particularly to resonance time, flotation columns, slurry pumps, angles of cleat conveyors, stir media and polishing mill charge capacities, and tails management,” Baillavoine says.
He adds that adjusting these sections of the processing plant at Aukam will optimize performance.
“We are currently exploring different avenues to fund this last element for Aukam, ‘the last brick in the wall,’ so to speak, which will enable us to meet our short- and mid-term milestones,” he says.
The company is working towards completing a Feasibility Study on the Aukam Property.
The study, its recommendations, and their subsequent implementation will provide conclusions and recommendations at a feasibility study level of comfort about scaling up the existing processing plant at Aukam to a commercial-scale processing facility capable of producing the desired concentrate grades and production rates.
The company has retained SP Angel Corporate Finance LLP of London, UK, to act as its Nominated Advisor and Broker in connection with the proposed admission of its securities to the Alternative Investment Market of the London Stock Exchange.
Baillavoine commented, “We are very pleased to be working with SP Angel and preparing for a listing mid to late autumn 2024. As the leading mining NOMAD on AIM, they are doing an exceptional job for us and lining up a fascinating set of institutional contacts for Gratomic.”
