ENERGY MINERALS

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

KAZAKHSTAN graphite company Sarytogan Graphite says drilling of the central zone of the 209 million tonne deposit grading 28.5% total graphite content has "exceeded expectations", with the rig now coring ground outside the resource ahead of a new estimate in the first quarter of next year.

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

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.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.