Armadale Capital plc (AIM:ACP) is an investment company focussed on resource projects in Africa. Its primary interest is the high grade Mahenge Liandu Graphite Project, located in a highly prospective region in south-east Tanzania. The project has a high-grade JORC compliant Inferred mineral resource estimate of 51.1Mt @ 9.3% TGC including 38.8Mt which is classified as Indicated. This resource establishes Mahenge Liandu as one of the largest high-grade projects in Tanzania, and work to date has demonstrated Mahenge Liandu’s potential as a commercially viable deposit.
A Definitive Feasibility Study (DFS) is underway to confirm a 400,000 tonnes per annum plant over a 32-year mine life, representing only 25pc of the overall resource. The company is on track to deliver the DFS in Q4 2019 and is aiming to commence production in 2021.