Ceylon Graphite's mine construction advances
Ceylon Graphite Corp (CVE:CYL) is listed on the TSX Venture Exchange. The company is engaged in the development of graphite mines in Sri Lanka. It has received environmental approvals for its K1 mine and has recently gained an industrial mining licence with first production likely in early 2020.
The mining licence is a notable triumph as its only the fourth one issued since the country's independence in the 1960s.
The company holds exploration rights over a land package of around 121km². These rights cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka.
Quick facts: Ceylon Graphite Corp
Price: 0.11 CAD
Market Cap: $7.4 m
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