Peninsula Mines (ASX: PSM) announced on Wednesday that it had signed a non-binding offtake and development cooperation Memorandum of Understanding (MOU) with Korean expandable graphite producer, Graphene Korea Co Ltd.
As a company with graphite exploration projects in South Korea, this is an important step for Peninsula Mines (ASX:PSM). Large to jumbo sized flake graphite has been identified at PSM’s Yongwon Graphite Project, and the associated high grade channel sampling results have provided management with a significant degree of confidence regarding the prospect of producing high purity concentrate from this source.
The Daewon Graphite Project is PSM’s other asset. Highly oriented graphite flakes have been identified, and while initial metallurgical flotation results are encouraging, final results will be reported shortly.
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