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The latest announcement is out from EcoGraf ( (AU:EGR) ).
EcoGraf Limited has announced the commencement of a farm-in agreement with AngloGold Ashanti for the Golden Eagle Project in Tanzania, following the granting of prospecting licenses. This partnership allows AngloGold Ashanti to earn a 70% stake by investing US$9 million over five years, while EcoGraf retains a 30% interest. The project is strategically located in a highly prospective gold region and aims to leverage AngloGold Ashanti’s expertise to discover a Tier-1 gold deposit. This agreement enables EcoGraf to focus on its core graphite business while benefiting from potential gold discoveries and rising gold prices.
More about EcoGraf
EcoGraf Limited operates in the mining industry, focusing on the development of graphite projects and battery anode materials for the lithium-ion battery market. The company is committed to environmental stewardship and social responsibility, with its flagship project being the Epanko graphite project aimed at delivering high-purity graphite products for the German industry and global markets.
Average Trading Volume: 616,908
Technical Sentiment Signal: Buy
Current Market Cap: A$161.5M
See more insights into EGR stock on TipRanks’ Stock Analysis page.