Triton's Ancuabe project in Mozambique has been flagged to produce 60,000 tonnes per annum of graphite concentrate, with pre-production capex of US$99.4 million and operating costs estimated at $632/oz.

First production is targeted for the second half of 2019.

Ancuabe is claimed to have "industry leading flake size distribution and purity", with its product primarily earmarked for the expandable graphite sector.

Other financial metrics for the project include an unleveraged, pre-tax net present value of $298 million, a pre-tax internal rate of return of 36.8% and a payback period of 3.8 years.

Triton also owns the Nicanda Hill project in Mozambique, described as "one of the world's largest graphite deposits for the EV market and a globally significant vanadium deposit".

Triton has suggested a joint venture strategy at Nicanda Hill could result in some of the funding required for Ancuabe.

The junior is estimated to currently have a less than A$2 million cash.

Shares in Triton closed Wednesday up 5.5% at 7.7c, capitalising the company at $60 million.

The stock was at about 6c 12 months ago, and 11c at the end of last year.