Kibaran trading on Frankfurt Stock Exchange
February 12, 2014 (Source: Kibaran Resources Limited) — Highlights:
- Secondary listing of Kibaran Resources on Frankfurt Stock Exchange under code “FMK”
- Listing increases exposure to European investors and companies within the European graphite industry
- European listing complements recent partnership and offtake agreement with major European graphite trader
- Kibaran is currently the only listed graphite company globally with a binding offtake agreement for graphite sales
Kibaran Resources Limited (ASX: KNL, “Kibaran” or the “Company”) is pleased to announce that it has a secondary listing on the Frankfurt Stock Exchange (FTSE); the world’s third largest exchange. The secondary listing provides the Company with exposure to European investors and investors who have a high-level understanding of the importance of graphite to industry in the European Union (“EU”).
The listing also complements the recent partnership and execution of a binding offtake agreement with a sophisticated European graphite trader. Kibaran is currently the only listed graphite company globally with a binding offtake agreement for graphite sales.
Kibaran Chairman Simon O’Loughlin said, “The Board believes that through the secondary listing in Frankfurt, the Company will benefit from increased trading liquidity of its shares and a broadening of the shareholder base into Europe, particularly as the EU has declared graphite as a strategic mineral. In addition, Kibaran will be exposed to future graphite companies trading in Europe as well as the world’s largest and leading carbon users who are located in Europe (eg. SGL Carbon, Thysennkrupp).”
In July 2010 the EU declared graphite as a strategic mineral in the report, ‘Critical Raw Materials for the EU’, chaired by the European Commission for Enterprise and Industry. The study group analysed a selection of 41 minerals and metals, with graphite identified in the category of ‘critical’. ‘Critical’ is defined as being high in economic importance and high in terms of supply risk.
The Company is also monitoring opportunities for its graphite in future downstream processing technologies, such as graphene, and believes Europe will lead the way with these new technologies. While graphene is still in development stage, the secondary listing in Frankfurt exposes the Company to any new developments and potential end-users.
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The Company will maintain its primary listing on the Australian Securities Exchange (ASX). The Company’s ASX announcements are now being translated into German and disseminated to the European investor community via the Frankfurt Stock Exchange. (refer http://www.boerse-frankfurt.de/en/aktien/+AU000000KNL2).
About Kibaran Resources Limited:
Kibaran Resources Limited (ASX: KNL or “Kibaran”) is an exploration company with highly prospective graphite and nickel projects located in Tanzania.
The Company’s primary focus is on its 100%-owned Epanko deposit, located within the Mahenge Graphite Project. Epanko currently has an Inferred Mineral Resource Estimate of 14.9Mt, grading 10.5% TGC, for 1.56 Mt of contained graphite, defined in accordance with the JORC Code. This initial estimate only covers 20% of the project area. Metallurgy has found Epanko graphite to be large flake and expandable in nature.
Kibaran also has rights to the Merelani-Arusha Graphite Project, located in the north-east of Tanzania. Merelani-Arusha is also considered to be highly prospective for commercial graphite.
Graphite is regarded as a critical material for future global industrial growth, destined for industrial and technology applications including nuclear reactors, lithium-ion battery manufacturing and a source of graphene.
In addition, the Kagera Nickel Project remains under explored and is located along strike of the Kabanga nickel deposit, owned be Xstrata, which is considered to be the largest undeveloped, high grade nickel sulphide deposit in the world.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>