This continues strength from last week, when BBR was trading at around $0.50, and shares have now more than tripled since August last year.
BBR acquired a 75% interest in the Matale Graphite Project near Kandy in Sri Lanka, through a deal with Plumbago Mining announced in 2012.
The Matale project is situated on 145km2 of tenements and applications surrounding the historic Kahatagaha Graphite Mine, which has operated since 1872 and produced more than 300,000 tonnes of high-grade graphite.
Bora Bora has added to its Sri Lankan graphite project portfolio with the granting of licences for the Paragoda North and Paragoda South Graphite Projects in central Sri Lanka.
Earlier this month, BBR signed a binding MoU with Monash University to commercialise its patented graphene applications.
Bora Bora will exclusively supply vein graphite from its Matale Graphite Project in Sri Lanka to Prof Li's team for ongoing research and development into graphene.
Samples of Sri Lankan vein graphite were previously supplied to Monash University by Bora Bora and formed the basis for negotiating and entering into the MOU and exclusive joint venture.
The MOU provides Bora Bora with the exclusive right to develop a commercialisation plan with Monash University for each of the three patents developed by Prof Li and his team.
Recently global institutional fund manager: Och-Ziff became a 7.7% substantial shareholder of Bora Bora, demonstrating the potential it sees in the company.
Bora Bora will also look to release results for VTEM survey over Matale Graphite Project in central Sri Lanka once processing of data is completed.
Also in the offing it will secure land access agreements for key exploration areas at Matale Graphite Project near Kahatagaha Graphite Mine to enable ground follow up of VTEM survey results.
Our initiating coverage, based on our early estimates, we place a price target of $0.73 - $1.05 on Bora Bora.
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