Walkabout Resources Ltd (ASX:WKT) non-executive director Andrew Cunningham updates Proactive Investors on the graphite company’s grant of a Tanzanian mining licence, and the planned development to bring its Lindi Jumbo Graphite Project into production.
“We are the first ASX-listed company to get our mining licence under the new Tanzanian legislation, to say we’re excited is probably the understatement of the century,” Cunningham says.
Granting of the mining licence allows Walkabout to further progress advanced project funding options.
The project hosts a JORC 2012-compliant measured, indicated and inferred mineral resource of 29.8 million tonnes at an estimated grade of 10.9 % total graphitic carbon (TGC).
This resource contains a super high-grade core of 4.7 million tonnes at 22.8% TGC for 1,076,500 tonnes of contained graphite, making it the highest mineable graphite resource in Tanzania.