Tirupati Graphite, a fully integrated, revenue generating, specialist graphite producer and graphene and advanced materials developer, is acquiring he entire issued share capital of Suni Resources SA. Suni Resources holds the Mozambique portfolio of graphite assets of Battery Minerals Limited, which includes the construction-initiated Montepuez Graphite Project and the advanced feasibility study stage Balama Central Graphite Project.
The acquisition includes all associated assets, infrastructure, permits, licenses and intellectual property on both projects for a total consideration of AU$12.5 million (US$8.9 million) in a cash and shares deal.
Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India, with a vision of developing a world-leading benchmark flake graphite company.