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The latest update is out from Greenwing Resources Ltd ( (AU:GW1) ).
Greenwing Resources Ltd has initiated a Stage 2 Scoping Study to explore the restart and expansion of its Graphmada Graphite Mine in Madagascar. This move aims to leverage existing infrastructure and increase production capacity, targeting a balanced output of fine and large flake graphite. The company is also seeking funding subsidies from the EU, Japan, and other agencies to diversify graphite supply, as the global market faces strategic risks due to concentrated supply sources. The study will assess the potential for expanding operations based on a significant increase in the mineral resource and existing production capabilities.
More about Greenwing Resources Ltd
Greenwing Resources Ltd operates in the mining industry, focusing on graphite production. The company owns the Graphmada Graphite Mine in Madagascar, which has a history of producing graphite concentrates for commercial specifications. The mine has a strategic market position, exporting to key markets such as the United States and the European Union, and aligns with critical mineral policies.
Average Trading Volume: 544,285
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$11.33M
Learn more about GW1 stock on TipRanks’ Stock Analysis page.