Castle Minerals' Strategic Investment

Castle Minerals (ASX:CDT) has secured a significant investment for its Kambale Graphite Project in Ghana. The Ghana Minerals Income Investment Fund (MIIF) is investing approximately US$2.0 million. This includes US$500,000 in Castle shares and US$1.5 million for its subsidiary, Kambale Graphite Limited. This funding will support the project through the pre-feasibility stage.

Investment and Strategic Outlook

Castle Minerals has announced a pivotal investment by the Ghana Minerals Income Investment Fund in its Kambale Graphite Project. The US$2.0 million investment will propel the project towards the pre-feasibility stage, with MIIF becoming the largest shareholder. This deal aligns with Ghana's strategic goal of becoming a leader in critical minerals and lithium-ion battery manufacturing. The Kambale Project, with its fine flake graphite, is poised to supply essential materials for electric vehicle and energy storage unit supply chains. MIIF's involvement highlights governmental support and emphasizes Ghana's role in the global transition to renewable energy. The project benefits from excellent infrastructure and a strong ESG commitment, positioning it as a key player in sustainable mineral supply chains.

Executive Commentary on Investment

The support from MIIF is a strong endorsement of the Kambale Graphite Project's potential and reinforces Ghana's strategic ambitions in the critical minerals sector. Their investment positions MIIF as our largest equity shareholder and underscores the government's commitment to developing a robust supply chain for lithium-ion battery materials.