Triton Minerals (ASX:TON) progresses DFS update for Ancuabe graphite project, Mozambique

• Triton Minerals (TON) flags the upcoming release of an update to its December 2017 definitive feasibility study (DFS) for the Ancuabe graphite project in Mozambique
• The company says it has recommitted to large-scale development due to growing demand for graphite from both battery and industrial applications
• Project execution planning (PEP) is also underway, led by Chairman Rod Zhang and Chief Operating Officer Adrian Costello
• TON is currently conducting a site visit to commence in-country planning and establishment works with Triton and Shandong Yulong representatives
• The company plans to release the update to the DFS before the end of March
• Shares in TON are up 1.47 per cent to 3.5 cents at midday AEDT

Triton Minerals (TON) has flagged the upcoming release of an update to its December 2017 definitive feasibility study (DFS) for the Ancuabe graphite project in Mozambique.

The company recently announced its plans to re-commit to the large-scale development of the Ancuabe project in a bid to cash in on the strong and increasing demand for graphite from both battery and industrial applications.

The commitment is also well supported by its proposed cornerstone shareholder, Shandong Yulong.

Triton’s DFS update focuses on refreshing inputs including graphite basket pricing, upfront capital expenditure, operating expenditure and sustaining capital expenditure.

The company has called on Perth-based engineering and procurement consultants to help with the DFS update.

Additionally, Triton has started early contractor involvement (ECI) with a major Chinese equipment supplier.

Project execution planning (PEP) is also underway, looking at ways to advance the project, on-time and on budget. It is being led by TON Chairman Rod Zhang and Chief Operating Officer Adrian Costello.

Mr Costello is also progressing discussions with mining, construction and civil contractors while in China.

The company said it expected the results from the DFS update this month, after which it will then proceed with a front-end engineering and design (FEED) process, followed by an engineering, procurement and construction (EPC) contract.

Triton aims to complete a site visit in March to commence in-country planning and establishment works with representatives from both the company and Shandong Yulong.

Shares in TON were up 1.47 per cent to 3.5 cents at midday AEDT.