The company pointed to its announcement on 29 February 2016 of a maiden Resource at its Mahenge Graphite Project in Tanzania of 131 million tonnes at 7.9% TGC, with 10.4 million tonnes of contained graphite with 40% of this resource being in the Indicated category.
This would rank Mahenge as the largest and highest grade resource in Tanzania and fourth largest JORC compliant resource globally.
Further, on 19 January 2016, it had engaged an external and independent consultant to undertake a scoping study, the results of which are due out later in March. The company said this is expected to be followed with proposals to undertake a full pre-feasibility study.
Black Rock said it was continuing to highlight to investors and the market the significance of the JORC Resource "with the recent price movements possibly reflecting the market's recognition of that statement."
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