Funding also raised for more Birimian gold drilling
Ghana's sovereign wealth fund has decided to invest some A$3 million in Castle Minerals' Kambale graphite project, part of a $4.25 million raising to support exploration in the sub-Saharan nation.An indicative term sheet will see the state's Minerals Income Investment Fund invest $750,000 at a 0.45c to become Castle's largest shareholder, plus $2.25 million into its subsidiary, Kambale Graphite.
94Mt contained graphite "will comfortably support a long-term production facility". Kambale's fine flake graphite has been refined into a battery-grade product in prior metallurgical test work.Castle discovered Kambale a decade ago but only restarted work in early 2023, some months prior to China's decision last year to restrict graphite sales.Separately, Castle has not forgotten its original focus: Ghana's gold potential.It has secured commitments for $1.25 million at 2.
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