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Leading Edge Materials shares up as it updates on Woxna graphite mine

Last year, the mine was granted a 25-year extension to its operating licence

Pictured is the Woxna mine in Sweden

Leading Edge Materials Corp (CVE:LEM, OTCQB:LEMIF) updated on plans for its Woxna graphite mine in Sweden, which is currently on production ready status.

Last year, it was granted a 25-year extension to its operating licence and is positioned to become a leading supplier of graphite for the high growth lithium ion battery market.

The company aims to control  the production chain for graphite anode material from mining through to blending of customer ready product, and also to produce saleable by-products from the mine.

Current activity to realise these aims includes:

  • Complete an internal trade off study for installation of a battery graphite demonstration plant at the Woxna site designed to produce substantial volumes of commercial anode materials.  Study recommendations are expected mid Q3 2018.
  • Undertake additional graphite shaping/spheronising trials for final selection of appropriate equipment to achieve consistent product specifications at Demonstration Plant scale.  Results are expected during Q3 2018.
  • Conduct further thermal purification test work to allow equipment selection and ensure consistent results in line with customer specifications.  Results are anticipated Q3 2018.
  • Complete detailed design for the Battery Graphite Demonstration Plant to enable commercial scale production of samples for customer qualification.  Results expected Q4 2018.
  • Subject to finance and satisfactory technical results, install purification and shaping Demonstration Plant on Woxna mine site and produce substantial quantities of graphite materials for potential customers.  Initial results expected Q2 2019 as part of an on-going qualification and product optimisation campaign.
  • Use demonstration plant by-product material to investigate alternate markets benefiting from the thermal and conductive characteristics of natural graphite.

Blair Way, LEM's president and chief executive, noted the form had received a number of queries about the recent price volatility. 

"The company is not aware of any fundamental changes to the company or the outlook for its assets over the past week," he said.

Also in today's filing, Way added: "Within a European context, the value of a fully built and permitted mine site cannot be under estimated.

"The fortunate legacy created by previous investment places Woxna as a graphite industry leader, able to now invest specifically in gaining the maximum value from our materials. 

"Our focus on larger "Demonstration Plant" scale testing is motivated by extensive customer discussion, and will allow us to engage with potential customers with the volume of material that is required to achieve battery industry qualification."

LEM shares added over 6% to stand at C$0.48..

Quick facts: Leading Edge Materials Corp.

Price: 0.1 CAD

Market: TSX-V
Market Cap: $11.37 m

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