EcoGraf is doing some heavy lifting today, with a big licence award from the Tanzanian Government. Pic: Getty Images
Resources Top 5: EcoGraf enjoys biggest gain in over four years with grant of Epanko mining licence
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- EcoGraf receives grant of Special Mining licence by the Tanzanian government
- Firebird Metals produces lithium manganese iron phosphate (LMFP) batteries
- Investigator Resources, Sipa Resources and Panther Metals also up on news
Your standout small-cap resources stocks on Tuesday, March 4, 2025.
EcoGraf (ASX:EGR)
Tanzania graphite stock EcoGraf was off to a flying start this morning after completing a major milestone in the development of the Epanko project, with the granting of a life-of-mine Special Mining Licence (SML) by the Government of the United Republic of Tanzania.
The process included the signing of the Epanko framework agreement as well as the undertaking of a detailed evaluation of the development including a 73,000tpa graphite processing plant.
Tanzanian President Dr Samia Suluhu Hassan and Minister of Minerals Anthony Mavunde approved the grant of the SML – a key aspect of the funding procedure to support Stage 1 development.
Plans are already underway to define a staged expansion pathway to achieve production and meet the forecast growth in demand for natural graphite anode material for the global electric mobility and clean energy storage markets.
The Epanko asset in Tanzania is host to a 290.8Mt resource at 7.2% total graphitic carbon, making it the largest development-ready graphite resource in Africa.
In conjunction, EGR is also moving forward with its midstream development – a facility that will mechanically shape Epanko natural graphite through the proposed mechanical shaping facility to spherical graphite.
Spherical graphite, often referred to as battery-grade graphite, is used in the production of anodes in most common battery technologies and is made by refining flake graphite concentrate into ultra-high purity (>99.95% TGC) microscopic spheres (15 to 5 microns).
Firebird Metals (ASX:FRB)
Firebird is now one of a handful of non-Chinese owned companies to have produced lithium manganese iron phosphate (LMFP) batteries after starting LMFP cathode material testwork at its state-of-the-art R&D centre in China’s Hunan Province.
The company has already produced five batches and produced LMFP button batteries from this early round of testing. It expects to produce a total of 100 batches under its binding strategic collaboration agreement with Central South University of Hunan and will turn each batch into button batteries for full evaluation and analysis.
This is in line with the company’s growth strategy of becoming a near-term, low-cost manganese-based cathode material business that will deliver products into the electric vehicle market.
Thanks to bypassing the packaging and crystallisation steps as well as reduced handling within the sulphate process, FRB expects to be able to reduce the projected manganese sulphate operating cost by ~32% or US$167/t.
Besides this significant operating cost reduction, the company also expects its approach to produce a higher quality LMFP product.
Testwork results will be used to undertake a scoping study and once completed, the company will assess options to expand the current pilot plant to produce approximately one metric tonne per day of LMFP.
FRB has taken an interesting approach, in virtual opposition to its Pilbara manganese neighbour Element 25 (ASX:E25). FRB is chasing the speed to market with joining an existing industry in China, while E25 has garnered enormous financial support from governments and carmakers to build a manganese sulphate plant in the undeveloped US market.
Investigator Resources (ASX:IVR)
Silver explorer Investigator is undertaking a pro-rata non-renounceable entitlement issue of one new option for every five fully paid shares and every five IVRO options held by eligible shareholders at an issue price of $0.001 per new option.
The new options are each exercisable at $0.042 and expire on March 24, 2028.
Funds raised will be applied to the expenses of the offer as well as to provide general working capital to the company.
Investigator recently appointed Lachlan Wallace, former managing director of Hillgrove Resources (ASX:HGO), to the role of managing director, effective from July 1, 2025.
Wallace led the successful development and commissioning of South Australia’s most recent operating copper mine, the Kanmantoo mine, and was instrumental in the designing, permitting and restart of the project.
“I am delighted to join Investigator at an exciting time for the company,” Wallace said.
“I will seek to grow shareholder value on multiple fronts – the high-grade Paris Silver project, the Molyhil tungsten project in the Northern Territory, exploration in the vicinity of Paris and Molyhil as well as exploration in the greenfield opportunities in the company’s tenements.”
The Paris project is currently in the definitive feasibility study phase where Wallace said he is keen to lead the regulatory approval process and ultimately, project financing and development.
Sipa Resources (ASX:SRI)
Maiden calcrete sampling across Sipa’s Tunkillia North gold project in South Australia has wrapped up today following the collection of 200 samples for analysis.
It comes a mere three months after completing the acquisition of three gold exploration projects in South Oz and one other in Western Australia.
The program infilled the existing 5km x 5km gold-in-calcrete anomaly, some 10km north of Barton Gold’s (ASX:BGD) 1.5Moz Tunkillia gold deposit.
Results are due back over the next six weeks and will be used to determine and refine drilling targets for follow-up programs.
Sipa’s goal is to fast-track drilling, starting in the June quarter, once heritage clearance has been received.
Panther Metals (ASX:PNT)
Panther raised $685,000 via a placement to investors this morning with funds to be applied towards extensional RC drilling at the bonanza Burtville East gold project as well as further targeted drilling at the greater Laverton gold project, both in WA.
Exploration at Burtville East will be focussed on metallurgical, mineralogical drilling and stockpile testing, including void drilling with a view to advancing towards potential future small scale mining operations and monetisation of the existing gold stockpiles.
“We are delighted with the strong demand for this placement,” PNT managing director and CEO Daniel Tuffin said.
“It underscores the confidence of external investment in our strategic direction to continue the further development and exploration of our advanced stage exploration projects and early-stage gold targets within our vast Laverton gold portfolio.”
