ENERGY MINERALS

Graphite drilling of 'giant' resource in Kazakhstan starts well for Sarytogan

Junior claims the work has potential to 'significantly' increase previous estimate

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Sarytogan believes the results - headlined by such hits as 20m grading 36% TGC - have the potential to "significantly expand" the resource.

Investors warmed to the news from Kazakhstan, marking the stock up more than 30% to A57c at one point.

Sarytogan is led by Sean Gregory, while the company's technical director is vendor Waldemar Mueller - who owns about 46.5% of the ASX-listed junior.

The graphite company also features active project generator Brendan Borg.

Sarytogan listed last month following an $8.5 million fundraising that issued new shares priced at 20c each.

Joint lead managers for the fundraising were RM Corporate and Inyati Capital.

Shares in Sarytogan were up 17% to 51c in afternoon trade, capitalising the company at $67.5 million.

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