The company has been conducting ongoing metallurgical variability tests on ore from the Sarytogan Graphite deposit, located in Kazakhstan’s Karaganda region, with this material – taken from the Central Graphite Zone (CGZ)- producing a concentrate between 90.5% and 91.3% TGC based on flotation test work.

Earlier flotation work had focused on composite samples from the Northern Graphite Zone (NGZ) and CGZ, achieving 81% to 85% TGC.

The much better result from CGZ alone involved 3 samples, and produced the high-grade TGC at higher recoveries of 84.7% to 86.8% on all 3. This is expected to boost the marketability of Sarytogan’s concentrate, which was previously known as Micro80C.

Managing director Sean Gregory said the result would a boost to ongoing development work on the project.

“The achievement of greater than 90% TGC in flotation concentrate from the CGZ is a greatachievement,” he said.

“The higher grade is expected to open this product to a broader market and potentially higher prices.

“These improvements will be validated with further tests for integration into the Definitive Feasibility Study underway.”

Sarytogan Graphite has been trading at 4.1 cents.

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The region has a strong uranium history, and this landholding is close to some of Kazatomprom largest uranium deposits and operational mines such as Inkai,Budenovskoye and Muyunkum-Tortkuduk.

Aral has secured 17 mineral licenses – with a further 5 pending approval – across the territory, which is collectively known as the Chu-Sarysu Project, where several mapped, paleo-channel roll-fronts have been found: with these associated with uranium deposits and amenable to ISR mining.

Each license has an initial term of up to six years, and there is an additional option for a one-time renewal for an additional five years.

Laramide will also have the chance to become sole owner of the project, since it can acquire all remaining shares in Aral at any time, according to the terms of the Option Agreement.

It will also serve as the exclusive operator throughout the exploration process, taking on responsibility for all related expenses.

President and CEO Marc Henderson said this was a unique opportunity to move into top uranium territory.

“The opportunity to explore in one of the world’s most prolific and prospective uranium basins appears to us to be a very compelling and overlooked opportunity,” he said.

“Particularly within an industry dynamic where the uranium supply deficit is now consensus thinking, and where nuclear power’s global growth ambitions will absolutely require greenfield discovery of new deposits.

“In spite of its proximity to world class ore bodies like Inkai and Budenovskoye, the large area represented in this Option has had very limited exploration in the post-Soviet era, and with Kazakhstan now actively encouraging foreign investment, we have secured an early advantage and are looking forward to getting started.”

At 13:33 AEST, the company’s shares were trading at 12 cents, a fall of 22.6% since the market opened.

The PFS outlined three potential products for the Sarytogan Graphite Project: microcrystalline graphite (with recoveries of more than 80%) at up to US$791 per tonne, ultra-high purity fines (UHPF) at up to fine nines purity, earning as much as US$5,577 per tonne, and spherical purified graphite at up to US$8,000 per tonne.

The metrics were calculated according to 10-year weighted averages, and the study also posited an initial mine life of 60 years at the maiden ore reserve of 8.6 million tonnes at 30% TGC (total graphite content), with only 4% of the mineral resource to be consumed in that time.

This, Sarytogan said, would enable multi-generational expandability for the project, whose financials also looked positive, with net present value (NPV) estimated at US$518 million, or A$797 million, and payback time estimated between 3.4 and 5.3 years, according to the mining stage.

Given the size and grades evident at the project, it was initially uncertain why the market as it did, although some investors appeared to pick up on the downstream operating costs for the life of mine (LOM) positioned at US$1,150.47 for production of UHPF.

Nevertheless, Managing Director, Sean Gregory said the PFS showed strong potential for the future operation.

“The Sarytogan Graphite Project now takes its place as a very serious contender to play animportant role in meeting the world’s energy storage needs,” he said.

“The physical attributes of the giant and exceptionally high grade Sarytogan Graphite Deposit have shone through in the PFS which envisages low costs and high margins, even at the conservative project sizing selected to minimise risk.

“Coupled with the recent planned investment by the European Bank for Reconstruction and Development strengthening of our balance sheet, Sarytogan is in a strong position to drive the project forward with early works on the DFS already underway.”

The uranium was discovered among low-grade stockpiles, which were subject to Umine’s recent bout of sampling work during a site visit to Djideli, with fifty surface samples being sent for analysis.

From these, seven surface samples from low-grade ore dumps revealed uraniumconcentrations of up to 5,269ppm, for an average grade of 1,773ppm.

In addition to this were 43 samples from rock dumps which held uranium averaging 80ppm, with grades going up to 583ppm.

Managing Director Alex Parks said the initial sampling work had gone beyond what Prominence’s expectations for the site.

“While the sample size is limited, the findings, particularly from the ‘low-grade ore dumps’ are highly encouraging, and exceeded our expectations with sample results up to 5,269ppm uranium and an average 1,773ppm,” he said.

“Whilst further sampling via drilling of the rock piles is required before conclusionsof commerciality can be made, the initial results bode well for the project’s potential success.

“The Umine project is advancing steadily, with the submission of our initial Permit Application to the Ministry of Industry and ongoing preparations for the Engineering Plan by Umine and its consultants.”

Prominence’s movement into the uranium recovery space in Kazakhstan began in March, when it undertook a capital raising aiming for A$1.55 million, with $200,000 of this being spent to acquire the 20 percent share in Umine.

The latter is focusing on collecting, processing and selling the uranium found at the site, which comprises two rock dumps and three low-grade ore stockpiles.

Prominence was trading at 0.8 cents at 11:40 AEST, a rise of 33.33% since market open.