Waratah Minerals has two world-class graphite deposits in Mozambique; being the Montepuez Graphite Project and Balama Central Project. The two projects are located in a region that hosts some of the world’s highest grade coarse flake graphite deposits.

The Montepuez Graphite Project has completed all environmental permitting and is a fully licensed mining concession. The Company has constructed a tailings dam, mining camp and mobilised a crusher to site. Waratah Minerals does not need to relocate any communities prior to the commencement of development of this project. Exploration has been completed on the Balama Central project and the mining concession application has been successfully submitted, pending attribution in the next few months.

The Company is aware that the market price of some grades of graphite that could be produced by its two Mozambican graphite development projects have increased recently. This and invigorated interest in the minerals required for EV batteries has highlighted the quality of Montepuez Graphite Project and Balama Central Project.