Ceylon Graphite Corp (TSE:CYL) has released an update.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Ceylon Graphite Corp. has announced the renewal of its IML C license for the M1 mine, which will enable the immediate resumption of graphite mining and on-site processing. The company is preparing to construct an incline tunnel for increased access and transportation, aiming for a production rate of 200 tonnes per month. With high-grade graphite already exceeding 90% carbon and plans for a processing plant to further purify it, the company anticipates a boost in revenue and is poised for rapid advancement in the graphite market.
For further insights into TSE:CYL stock, check out TipRanks’ Stock Analysis page.
