By: Staff Writer
April 30, Colombo (LNW): Sri Lanka’s Graphite exploration has taken a new turn with the entry of Applied Graphite Technologies to develop the Queens Mine Complex situated between AGT’s existing Dodangaslanda Graphite Properties.
The QMC is on private land in the heart of the vein graphite district, with historical workings and vein graphite outcrops. Vein graphite is naturally high grade (+95% carbon content in the ground) and does not require primary processing.
Testing of vein graphite in lithium-ion battery anodes has shown very high capacities, performing better than synthetic graphite. Natural vein graphite has a far superior ESG footprint than synthetic and is cheaper without compromising performance
AGT is determined to revive the graphite mining industry in Sri Lanka and become a significant contributor to the energy revolution currently underway.
The world’s highest quality vein graphite is exclusively sourced from Sri Lanka. The mission is to uncover and harness the untapped potential of AGT’s Queens Mine Complex and its high-grade vein graphite deposits
The Queens mine originally opened in the early 1900s by the British, however when the British colonial period ended in 1948 the mine was abandoned. The mountain in which the Queen’s Mine is situated in is also referred to as ‘the graphite mountain’
Applied Graphite Technologies Corp. announced that it has purchased the past-producing Queen’s Mine in Sri Lanka.
The Queens Mine was reported to be extracting high-grade graphite veins at a rate of 20 tonnes per month.
The former operator had intentions to ramp up production to 3,000 tonnes per year.
Adits provided access to the underground workings expose at least six graphite veins over a total width of 25 metres, with veins varying in thickness up to 0.4 metres.
AGT has successfully completed the cross-listing of its common shares to the OTCQB Venture Market (“OTCQB”). AGT’s common shares are now trading on the OTCQB under the ticker symbol “AGRTF”.
The TSX Venture Exchange is a stock exchange in CanadaIt is headquartered in Calgary, Alberta, with offices in Toronto, Vancouver, and Montreal.
Don Baxter, CEO and Director of Applied Graphite commented: “This listing on the OTCQB Venture Market, within two months of listing on the TSX Venture Exchange, is a significant milestone for the Company.
Most importantly, this will provide a large United States investor base with the opportunity to participate directly in Applied Graphite Technologies growth as well as enhance trading liquidity and increase outreach with the global investment community.”
