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MRL Corporation shares spike as drilling nears for Sri Lankan graphite

MRL Corporation shares spike as drilling nears for Sri Lankan graphite

MRL Corporation (ASX:MRF) shares are continuing to surge as investors clamber to be part of the upcoming graphite drilling campaign in Sri Lanka.

Shares in the company jumped to $0.078 yesterday, from $0.047 on the 21st of this month, and look set to open higher again today.

MRL established first mover status in southern Sri Lanka, with four development projects that are prospective for vein graphite.

Current programs are focused along 650 metres of historic mine workings on the Pandeniya to Wallagala strike-line within the Warakapola Project.

MRL holds 6,300 hectares of Exploration Licenses in Sri Lanka and has applied for further exploration areas surrounding granted licenses.

In excess of 200 historical adits and shafts are located on granted licenses.

The large quantity of remnant graphite dumps indicate MRL’s licences produced a reasonably large volume of vein graphite from numerous artisanal pits during the 1890’s to 1950’s.

Artisanal miners had limited ventilation and dewatering capabilities, therefore historical workings are relatively shallow, where systematic modern exploration for vein graphite has ever been undertaken.


Graphite

Graphite and diamonds are the only two naturally formed polymers of Carbon.

The U.S.A., which is a 100% importer of graphite, has joined China and the European Union in classifying graphite as a critical strategic material.

Graphite demands are increasing as valuable and broad applications are being researched and developed daily, ranging from consumer electronics, green energy, medical, mining and even military applications.


Vein Graphite

Vein graphite is the rarest, most valuable, and highest quality form of natural graphite.

The grade of vein graphite is typically above 90% carbon, with a purity of 95-99% carbon without refining.

It has higher thermal and electrical conductivity, and is easy to mould and can be formed into solid shapes without the aid of a binding addition, which leads to considerable cost savings over lower grade feedstock.

 

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