Bass Metals (ASX:BSM) has its foot on the accelerator and eye firmly on a new graphite production record in its bid to make as much money as possible.

The company is expecting a strong September after daily production in August hit a record of 29 wet tonnes at 61 per cent large flake and 92.3 per cent fixed carbon (FC).

Bass said that was a “record result for the combination of tonnes, large flake and FC produced in a 24-hour period”.

The new producer has also increased large flake production to 42 per cent so far for the September quarter – a 10 per cent jump on large flake production in the June
Quarter.

Large flake production has gone as high as over 60 per cent at times in the current quarter, beating the peak of 45 per cent reached in the June quarter.

Bass said it continued to optimise the wet tonnes produced at 94 per cent FC, while increasing the volume of large flake produced.

“While 94 per cent FC is recognised as the industry benchmark for premium graphite concentrates, the balancing of production for flake size is also a critical element to maximizing revenue,” Bass noted.

That’s because concentrates of over 180 microns (large flake) demand significantly higher prices than finer flake graphite concentrates (less than 180 microns).

“As substantial shareholders, management and the team at Bass continue to work extremely hard to build on what was an outstanding June quarter and deliver further improvement in the September quarter, as results to date suggest,” CEO Tim McManus told investors today.

In other ASX battery metals news:

Traka Resources (ASX:TKM) is moving to full ownership of the Gorge Creek JV after partner Cobalt QLD agreed to sell the company the remaining 45.6 per cent stake for $390,000. Traka said having full ownership of the project will help it attract future exploration funding and potential third-party joint venture partners.

China’s largest EV battery manufacturer, CATL, is taking an 8.5 per cent stake in Pilbara Minerals (ASX:PLS) by way of a $55m placement. Pilbara Minerals is also undertaking an underwritten institutional placement to raise a further $36.5m and a share purchase plan to contribute another $20m.

Lithium explorer Lake Resources (ASX:LKE) revealed it too was undertaking a capital raising, but shareholders did not respond well — sending shares down as much as 16 per cent today. The company is doing a $2m private placement to sophisticated and professional investors at a 20 per cent discount to its last traded share price before it announced the news.

Featured Companies

You might be interested in