Flinders Resources Limited provided update on the preliminary economic analysis of the Woxna Graphite Project in Sweden. Based on recent test work, the process flow sheet and mass balance calculations have now been completed. Processing has been considerably simplified with much of the existing plant and equipment used, delivering increased volumes of flake graphite at higher purity and larger flake size.

155,000 tonnes per annum of graphite mineralised rock at an average head grade of 10.3% is planned to be processed, well above historic levels. Using the results of the metallurgical test work, 96% of the graphite is expected to be recovered, yielding 16,710 tonnes per annum of graphite at full capacity. The graphite produced is expected to far exceed historical production in quantity, purity and flake size distribution including: 3,070 tonnes/year of extra large or jumbo flake graphite (+250 µm or +60 mesh) at 95% purity.

This high value product was never historically commercialised at Woxna; 3,580 tonnes/year of large flake (+180250 µm or 60+80 mesh) at 94% purity, elevating this product into a higher price category; 4,730 tonnes/year of medium flake graphite (+100180 µm or 80+140 mesh) at 92% purity; and 5,330 tonnes/year of fine flake graphite (100 µm or 140 mesh) at 88 % purity.