Key facts about Walkabout Resources' wet commissioning progress

Walkabout Resources Limited (ASX: $WKT) has achieved a significant milestone by successfully concentrating ore at its 40ktpa Lindi Jumbo Graphite Mine in Tanzania. The company is advancing wet commissioning activities as the mine progresses to become one of the top five natural graphite producers outside of China.

Executive commentary on the wet commissioning progress

Ore feed to the concentrator circuit at Lindi Jumbo is a huge step forward in Walkabout's journey to becoming a major player within the natural flake graphite industry. It is the culmination of more than six years of feasibility, procurement, engineering, construction, and commissioning work undertaken by the Lindi Jumbo team and its contractors. The strategic importance of Lindi Jumbo is reinforced by China's recent introduction of export controls on graphite and its products, and the increased attractiveness of both the US and European markets supported by the US Inflation Reduction Act and the EU Critical Raw Materials Act.

Summary of wet commissioning progress and outlook

Walkabout Resources has made significant progress in wet commissioning at the Lindi Jumbo Graphite Mine, positioning itself to capture full value in the current market shortage. The company's strategic focus on safety, capital cost controls, and partnership with the local community underscores its commitment to sustainable operations. With the successful concentration of ore and the first debt-funded graphite mine outside of China, Walkabout is well-positioned to capitalize on the increasing demand for graphite in the US and European markets. The company's operational priorities include increasing throughput, ensuring product quality, and maximizing flake size retention. As the wet commissioning progresses, Walkabout aims to achieve nameplate recoveries of over 85% within 12 months and explore opportunities to sell additional quantities of graphite from the built-in excess capacity. The company's entry into the graphite market comes at a time of positive market conditions for coarse flake natural graphite, with constrained global supply and stable demand leading to price support. Walkabout's focus on large and jumbo flake graphite products aligns with the market trends, positioning the company for success in the evolving graphite industry.