Magnis Resources Ltd Finalized regulatory and environment permits for Nachu Graphite Project

Finalized regulatory and environment permits for Nachu Graphite Project: Magnis Resources Ltd (ASX: MNS) had updated that Nachu Graphite Project is progressing well. As per the quarterly report ending December 31, 2016, the group has finalized all regulatory and environment permits along with completing a Bankable Feasibility Study. Commissioning of many mega-factories from 2018 onwards is seen to bring a boost to performance. The group has realized breakthrough cost reductions for graphite silicon blend anode. MNS had selected Ausenco for detailed engineering program of work at Nachu and also completed an official valuation of an area within Special Mining License (SML 550/2015). On the other hand, Sinosteel Liaoning and China National Materials Import and Export Corporation (SINOMA) has terminated both of its offtake agreements, while Mtwara Port Agreement got extended for leasing the land. MNS has received in excess of $1.6 million during the quarter from share options proceeds.

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