Junior graphite project developer Buxton Resources (ASX:BUX) has confirmed that feed from its flagship project in Western Australia is suitable for the manufacturing of lithium-ion battery anodes.
The $26 million market capitalisation company says ProGraphite in Germany has been managing midstream and downstream testwork on concentrate from the Graphite Bull project since April 2023.
The final results from this testwork have now shown that the uncoated purified spherical graphite (uPSG) made from Graphite Bull concentrate yields above-average to ‘good’ performance characteristics, making them the product for lithium-ion battery anodes.
Buxton says the ‘very positive’ results green-light further development work for the company.
As part of the testwork, ProGraphite oversaw the construction of an anode and lithium-ion battery from Graphite Bull uPSG and performed subsequent electrochemical tests, including multiple charging and discharge tests to determine the electrical capacity and durability characteristics of the product.
According to Buxton, the ProGraphite results highlighted a Coulombic efficiency during the first test cycle of around 90%, showing that the graphite can be charged to ‘good capacity levels’.
For reference, a value of above 350 milliampere-hours per gram (mAh/g) is considered good for uncoated graphite. The Graphite Bull product achieved values of 370 mAh/g and 369 mAh/g.
Further, ProGraphite’s report said the products showed almost no degradation and ‘very stable’ material.
Buxton CEO Marty Moloney says Graphite Bull continues to ‘over-deliver at every turn’.
“Buxton is delighted to have a critical battery mineral project of this calibre in our portfolio.
We also note UBS’s recent comments about the likelihood of a two-tier pricing structure for graphite from 2025, suggesting a premium for battery-quality graphite products and recognising coming realities for the global battery anode industry.
Graphite Bull is the right project in the right place, at the right time.”
“Graphite Bull is the right project in the right place, at the right time”
Buxton says a second bulk concentrate sample is currently being evaluated by Dorfner Anzalplan, also based in Germany, with results expected to roll in from May.
The company notes, however, that the ProGraphite and Dorfner tests are simplified lab tests to confirm the general suitability of Graphite Bull feed for battery anode manufacturers. To qualify the product for use by a particular manufacturer, more tests are normally conducted by the producers and battery makers themselves.
Buxton Resources had roughly $2.35 million cash and cash equivalents at hand as of 30 September 2023, according to its latest quarterly report.
Write to Joshua Smith at Mining.com.au
Images: Buxton Resources
