African focused junior mineral exploration company Walkabout Resources believes that the success of its high-grade Lindi Jumbo graphite project in south-east Tanzania hinges on its ability to bring the project on stream in a very short time frame. It has subsequently geared its development strategy towards achieving this, MD Allan Mulligan tells Chantelle Kotze.
The Lindi Jumbo graphite project is being developed by Walkabout Resources in joint venture with a local exploration rights holder. Walkabout signed a Memorandum of Understanding which will allow it to purchase 70% of four prospecting licenses totalling 325 km2 in the emerging graphite province in south-eastern Tanzania approximately 75 km to the west of the coastal town of Lindi.
One of the licences is contiguous to the advanced Nachu graphite project being developed by Magnis Resources, which has attracted US$150 million in debt financing. Described as “creating value from Australian capital and an African opportunity” by Mulligan, Lindi Jumbo is able to off er signifi cant short-term opportunity owing to its extraordinary flake graphite, which in turn, enables a low capex, cash generating project to be brought on stream within a very short timeframe.
Further enhancing the project economics is the graphite grade of the deposit, says Mulligan. Metallurgical sampling at the project has confirmed up to 65.7% of jumbo and large flake size categories by graphite mass. Furthermore, between 58% and 82% of the carbon grade resides in large and jumbo flake categories. The Lindi Jumbo graphite project, which lends itself to surface mining, is planned to produce around…