Wednesday , May 22 2024

Gratomic extend tentacles in Namibia

Gratomic has revealed that its Windhoek facilities will be used as an office as well as lodging for the company’s Canadian executives visiting Namibia. The property in Lüderitz will also be developed into a second graphite processing and warehousing facility, according to the company.

Gratomic, the owners of the Aukam Graphite project, recently signed a share purchase agreement for Windhoek facilities and real estate at the Port of Lüderitz Bay.

In a statement, Gratomic said its graphite finishing process will be separated into two separate facilities with one housing the micronization and spheronization equipment and the second housing the patented ALD (Atomic Layer Deposition) equipment supplied by Forge Nano (review details here in a press release dated March 31, 2021).

This strategic asset development will provide the company with the opportunity to customize product output adhering to end-user specifications and requirements, allowing Gratomic to better serve a broader range of manufacturers and OEMs. This investment also supports a significant increase in output potential of product generation to support any additional growth in demand as predicted by Benchmark Mineral Intelligence, among others.

“The Company recognizes the requirement for additional industrial space for the purpose of future added value processing and to accommodate the predicted upswing in market demand,” said Arno Brand, CEO and President.

The benefits of the agreement are further supported by the Company’s acquisition of permanent office spaces in Windhoek, which will better accommodate the growth and development of the Namibian team and Aukam Graphite Project. The ownership of permanent facilities will reduce overall operational costs through the elimination of office rental and other expenses.

The facilities and the real estate are being purchased for the equivalent of $1,436,500 and will be satisfied by the issuance of 1,072,015 common shares (the “Considerations Shares”) of the Company (Issued at a per-share price of $1.34). Closing of the share purchase agreement and issuance of the Consideration Shares is subject to the fulfilment of standard closing conditions and the approval of the TSX Venture Exchange.

The Canadian-based company is focused on introducing an exceptional anode material to the global electric vehicle and energy storage supply chains. The company aims to achieve full operational capabilities in 2021, with further plans to take its Aukam Graphite Project fully solar by 2022. Large quantities of its naturally high-quality graphite have been shipped for testing to confirm its viability as an anode material.

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