Key facts about Castle Minerals and the Kambale Graphite Project

Castle Minerals Limited (ASX: $CDT) has reported significant progress in its Kambale Graphite Project located in Ghana. The company achieved outstanding graphite purification levels and successfully completed battery anode performance tests. The critical test work was supervised by specialist metallurgical laboratory, ProGraphite GmbH, resulting in the production of a 99.97% TGC purified material with no remaining impurities of concern. This high purity level exceeds the industry benchmark for application in EV battery anode manufacture. The concentrate was successfully micronised and spheronised prior to the purification stage. The company is fast-tracking the project to coincide with the forecast increase in demand for natural fine flake graphite concentrates and Battery Anode Material (BAM).

Executive commentary on the Kambale Graphite Project

The Kambale Graphite Project is strategically located and well-timed to participate as a presently uncommitted source of natural fine flake graphite in the new critical mineral supply chains being established. Ghana, where the project is situated, is a highly regarded, safe, politically stable, and fast-growing jurisdiction with a long history of mining by international Tier-1 companies. The project's successful test work and the achievement of high purity levels position it to meet the escalating demand for graphite concentrates, particularly in the fast-growing EV battery and stationary power storage sectors.

Summary of the Kambale Graphite Project and outlook

Castle Minerals' Kambale Graphite Project has made significant strides in achieving outstanding graphite purification levels and successful completion of battery anode performance tests. The company's strategic location in Ghana, coupled with the successful test results, positions it well to meet the escalating demand for natural fine flake graphite concentrates and Battery Anode Material (BAM). With the forecast increase in demand for graphite concentrates and the looming supply deficit, Castle Minerals is poised to play a crucial role in the new critical mineral supply chains. The company's ambitions to advance market positioning strategies for added value products and continue community engagement initiatives demonstrate its commitment to sustainable and responsible operations. The outlook for the Kambale Graphite Project appears promising, given the increasing demand for graphite in various industries and the company's proactive approach to development and stakeholder engagement.