The trading halt will remain in place until the beginning of regular ASX trade on Tuesday, May 26, or when an announcement is released to the market, whichever occurs earliest.
Shares last traded at 5.4 cents and are up from 2.7 cents at close on April 24.
Resettlement Action Plan
Black Rock announced earlier this month that the company’s Tanzanian-based consultant had finalised activities and had substantially completed the Resettlement Action Plan (RAP) for the Mahenge Graphite Project.
The RAP is a well-understood process worldwide, including in Africa, and is used to assess land and property values as well as to support the relocation of people and properties.
It is designed to meet the International Finance Corporation’s (IFC) Performance Standards on Social and Environmental Sustainability and is a typically mandated condition precedent for debt funding and Mining Licences.
Resettlement for Mahenge includes areas associated with Mdindo, Kisewe, Nawenge and Makanga villages.
At the completion of RAP field activities, the company has recorded a 98% acceptance rate.