Gratomic raises US$6m for Aukam graphite project in Namibia

Gratomic Inc has raised US$6m for general working and operating capital for the Aukam Graphite Project in Namibia.

The company announced on March 9 that the money was raised from a second tranche of non-brokered private placement offering of up to 20 million working capital units at US$0,30 each.


Gratomic president Arno Brand said it is a great pleasure to continue participating in the offering alongside shareholders.


The Aukam Graphite Project is in southern Namibia, close to the port city of Luderitz. The property hosts five underground adits mined periodically between 1940 and 1974. 


Located in Namibia, Africa, this historic mine brought prosperity to the Karas region in previous decades. Its first operational phase began in 1940, and it remained in production for 16 years, ceasing operations in 1956. 


The second phase of activity began in 1964, and the mine remained active unit 1974. The Aukam Graphite Project is preparing for phase three of its life, with commercial production anticipated to commence in 2023. 


Phase three will allow the mine to realize its full potential with an estimated 22,000 tonnes of high-purity vein graphite production per annum.


Five surface stockpiles from the historical mining occurred on the property, and 73 composite samples were taken from the lower three stockpiles, assayed and averaged 42% Carbon as Graphite (Cg).


Gratomic holds 100% controlling interest in its Aukam Graphite Project in Southern Namibia, Capim Grosso in Brazil and Buckingham in Eastern Canada. 


The Company received its official Mining Licence (ML 215) on March 24th, 2020. The Licence covers Base and Rare Metals, Industrial Minerals and Precious Metals. 


The Licence area falls within the proximity of the Aukam Processing Plant and the graphite-bearing shear zone for a total of 5002 hectares (5002 ha). Securing the mining licence is critical to moving the Aukam Mine into commercial production.


Aukam graphite has been tested in several high-value applications, including nano-engineered graphenes. It is ideal for battery applications due to its naturally high purity and low processing requirements.



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