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Magnis Resources Provides Quarterly Activities Report for December 2016

31 Jan 2017  |  16:40:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Quarterly Activities Report

Magnis Resources provided quarterly activities report for December 2016 stating that the Company continued to focus on progressing the development of its Nachu Graphite Project ("Nachu") in southern Tanzania and has made significant progress in the quarter. The Company updated the market on its lithium-ion battery results and continued progress at Nachu. The Magnis lithium-ion battery development team made significant progress in recent months with Thermo Gravimetric Analysis of graphite flakes produced using only physical steps (milling and flotation processes) with purity >99.95% TGC. Cash position for the Company at 31 December 2016 was $2.36m. Three directors were appointed to the Board during the quarter following the resignations of Mr Len Eldridge and Mr Colin (Cobb) Johnstone.

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