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Sarytogan Graphite shares surge on back of battery breakthrough

Updated: Mar 21

Sarytogan Graphite’s stock surged more than 33 per cent today after uncoated spherical purified graphite (USPG) from its namesake project in Kazakhstan was successfully used to produce lithium-ion batteries.

After the share price dipped to 14c last Friday, it jumped to touch 21.5c during intraday trading on the back of news that it had manufactured six coin-cell batteries through its American technology partner. The stock had closed at 16.5c yesterday.

Sarytogan Graphite managing director Sean Gregory says the production of six batteries from graphite at its namesake project in Kazakhstan is a major milestone for the company.

Management says the batteries showed consistently superior capacity compared to many synthetic graphite anodes currently used in electric vehicles (EVs). Reversible capacities ranging from 342 to 347 milliampere-hours per gram mass (mAh/g) across the six batteries tested were recorded, compared to synthetic graphite products that typically return capacities of 330 to 345 mAh/g.

Testing showed all six cells have remarkably repeatable and consistent results, with no significant degradation in performance after nine rounds of 10-hour charge and discharge cycles.

A second round of testing will now be commissioned on coated spherical purified graphite (CSPG), which adds surface coating to the USPG with carbon to reduce surface roughness and improve battery performance – particularly in the first cycle. Management says the process is the normal pathway for all EV battery anodes.

“Sarytogan Graphite is proving itself to be a unique combination of high performance and lower costs.” Sarytogan Graphite managing director Sean Gregory

The testwork will form part of the company’s ongoing prefeasibility study (PFS) that is expected to be delivered by the third quarter of this year.

Sarytogan recently engaged GR Engineering Services to progress its PFS and it will evaluate two main flowsheet options in chemical and thermal purification. Management says the exceptional results in thermal purification and spheroidization have firmly placed it as the favoured option, however the development of the chemical flowsheet option is also continuing in Germany.

Sarytogan Graphite is proving itself to be a unique combination of high performance and lower costs due to its exceptionally high-grade microcrystalline nature. Investors can look forward to the well-advanced prefeasibility study quantifying the anticipated financial returns associated with the long list of superlatives that the Sarytogan Graphite deposit commands. Sarytogan Graphite managing director Sean Gregory

In the space of just 18 months, the company has delivered a high-grade mineral resource of 229 million tonnes at an incredible 28.9 per cent total graphitic content (TGC).

Drilling results received early last year confirmed the near-surface nature of the deposit, with assays of 26.8m grading 30.4 per cent TGC from surface and ending in mineralisation. Additional wide, shallow results show 47.6m at 31.3 per cent TGC, also from surface, including 13.9m going 40.2 per cent TGC, in addition to a 6.8m hit grading 37 per cent in the same hole.

Late last year, Sarytogan produced its first spheroidized graphite, which is the final flowsheet element needed to produce USPG and ultra-high purity fines (UHPF) for use in lithium-ion batteries and other related markets.

With the long-term charge and discharge cycling of its battery cells continuing, the company looks to be well on its way to producing a graphite product suitable for the ever-growing EV market. And ASX punters appear to agree based on today’s impressive share price hike.

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