Addressing the Paydirt Australian Graphite Conference in Perth, BlackEarth Minerals MD Tom Revy, said the company was currently completing all necessary technical, legal financial and regulatory requirements ahead of an IPO and ASX listing.
While the quantum of the IPO has not been publicly detailed, BlackEarth Minerals would be a pure graphite play and possibly list on the ASX around July-August this year, subject to all regulatory time-frames being met.
BlackEarth Minerals initially focused on a portfolio of graphite assets throughout Western Australia but expanded its portfolio this year with the acquisition of the Maniry and Ianapera graphite projects in Madagascar, off Africa’s east coast.
Early work post listing, states Revy, would most likely focus on rapid development of the more advanced Madagascar assets.
“Madagascar has more than 100 years of graphite mining history and exhibits consistently low production costs,” says Revy.
“The industry there also has a reputation of producing consistent quality large flake graphite sold into global markets. It also has a favourable exploration environment and mining code, yet remains extremely under-explored,” he notes.
Revy told delegates the BlackEarth Minerals planned to commence resource drilling in Madagascar as soon as the IPO was completed, with the aim of defining a maiden resource at Maniry. A scoping study on the project would also be launched.
Ground exploration would also be commenced on the Western Australia assets.