Peninsula signs battery MoU

BATTERY hopeful Peninsula Mines has signed a memorandum of understanding with a South Korean high-technology manufacturing company it hopes will emerge as a buyer for its flagship Gapyeong graphite project in the Asian nation.
Peninsula signs battery MoU Peninsula signs battery MoU Peninsula signs battery MoU Peninsula signs battery MoU Peninsula signs battery MoU

Haydn Black

Reporter

Tera Technos specialises in the production of high performance carbon composite SiOx anode materials, a modified and enhanced version of spherical graphite that can reportedly overcome the limitations of conventional anode materials for batteries with high capacity, high efficiency, and high stability.
 
The MOU includes an initial program under which Tera Technos will complete spheroidisation and electrochemical testwork on graphite concentrate samples from Gapyeong, and potentially the  Eunha project.
 
As that is happening the pair will lay the groundwork for a cooperation and offtake agreement under which Peninsula will position itself as a first priority supplier for Tera Technos, so it can produce its carbon composite anode materials.
 
Peninsula managing director Jon Dugdale said the junior had "a toe-hold in the world's most dynamic lithium-ion battery industry".
 
Peninsula is looking to define JORC resources at its known graphite occurrences, and develop flake graphite operations. 
 
It already has an offtake MoU with Graphene Korea and a binding supply agreement with Canadian listed DNI Metals under which DNI will supply up to 24,000 tonnes per year of flake graphite for on-sale to Korean end-users from its large-flake graphite projects in Madagascar.
 
Peninsula's ultimate aim is to establish production in South Korea, where is has leases close to some of the world's largest battery plants. It is hoping to develop a 20,000-60,000tpa mine and concentrator from 2020, followed by a 12,000-36,000tpa downstream facility to produce spherical graphite.
 
Peninsula shares were last traded at A0.4c, valuing the company at a mere $3.4 million. The company raised $2 million late last year to fund operations.