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  • Kibaran Resources' Shares Soar On Progress Of Tanzanian Graphite 0 comments
    Jul 17, 2014 12:16 AM

    Kibaran Resources (ASX:KNL) is not only a recent stand-out performer on the ASX, but is one of the best performing small cap. graphite stocks.

    Kibaran's shares have doubled in the past couple of weeks, with the company hitting a new 12-month high yesterday of $0.34.

    Since October last year the company is a six-bagger.

    Earlier this week Kibaran revealed its best ever graphite results from the Mahenge Graphite Project in Tanzania.

    Reverse circulation drilling delivered: 22 metres at 13.4% (Total Graphitic Carbon) TGC, including 7 metres at 20.1% TGC; and 39 metres at 11.3% TGC, including 12 metres at 14.5% TGC and 6 metres at 15.5% TGC.

    These results could be just the tip of the iceberg considering that the graphite mineralisation is from surface, and remains open at depth and in all directions.

    Offtake

    Kibaran remains the only company globally with a binding offtake agreement and sales partner for graphite sales outside of China.

    Analysis

    A near-term key catalyst is a resource estimation upgrade which is already well underway, with current development studies to be fast tracked to development decision.

    Also - assays of the quality announced this week have the potential to attract a direct relationship with a major end user, which Kibaran is seeking.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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