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Castle Minerals is preparing to collect bulk samples for test work to enable the Company to identify possible commercial options for its Kambale graphite project in Ghana’s Upper West region.

The reappraisal of the Kambale graphite project is consistent with improved market prices for graphite concentrates and a positive longer-term outlook for the commodity.

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These are underpinned by its use in the manufacture of lithium-ion batteries which are being increasingly used in electric vehicles, consumer electronics and other electricity storage applications.

Castle MD, Stephen Stone says:

“The Kambale graphite project in northern Ghana is a sleeper asset within Castle which now warrants a reappraisal given the relatively strong present and positive long-term outlook for graphite concentrate prices.”

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“Drilling, a maiden Mineral Resource estimation and preliminary metallurgical test work in 2012 was encouraging enough that we will now excavate bulk samples to produce flotation concentrates for flowsheet design, concentrate characterisation, market positioning and project benchmarking studies. We will then be in a position to make an informed decision as to how best we should take Kambale forward.”