Walkabout Resources Ltd Company Profile

Transitioning from Explorer to the Next Large Scale, Long-Life and Low Cost Graphite Operation in Tanzania

Walkabout Resources (ASX:WKT) is a Perth-based graphite, gold, lithium and base metals explorer operating in Tanzania, Namibia and the UK.

  • Company
    Walkabout Resources Ltd
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  • Sector
    Metals & Mining
  • Industry
    Diversified Metals & Mining
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Company Overview

Walkabout Resources Limited (ASX:WKT) is primarily an African focused energy minerals developer, based in Western Australia and listed on the Australia Securities Exchange under stock code WKT. The Company strives to create shareholder growth through the discovery and development of products such as graphite, gold, base metals and lithium.

The Companies’ flagship project is the Lindi Jumbo Graphite Project located in south east Tanzania. Walkabout has completed a Definitive Feasibility Study and started with the construction through the preparatory earthworks on site in Tanzania and the procurement and manufacturing of selected processing plant equipment. The Company has secured a US$20 million Project Finance Facility and is currently raising the necessary companion equity of US$12 million to fast track the final development and to be in production during the first quarter of 2022.

The Company is also exploring for gold and base metals in Northern Ireland and Scotland, and Lithium in southern Namibia.

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Emerging African graphite producer with Lindi Jumbo premium large flake graphite from SE Tanzania

Walkabout is an up-and-coming graphite producer. The Company’s flagship project is the Lindi Jumbo Graphite deposit in South East Tanzania. With the DFS completed and a 24 year mine life based on a reserve of 5.5mt @ 17.9% TGC, the project has the highest reserve grade of any undeveloped graphite project in Africa.
Prime Location & Low Operating Costs

Low pre-production Capex of US$27.8 million and low operational costs of US$347/t of graphite concentrate FOB at the port of Mtwara. This places the project firmly in the lowest industry quartile.

Ultra-High Grade World Class Resource

Highest reserve grade of 17.9% TGC of any undeveloped graphite project in Africa. Offtake term sheets and sales and marketing agreements in place for 100% of the annual production.

DFS Completed

The DFS results demonstrate the compelling economics of the project which has been designed to mitigate potential start-up and ongoing operational risks. Project post-tax NPV10 of US$197 million, post-tax IRR of 119% & Life of Mine (LOM) EBITDA of US$1,070 million.

Latest Presentation

Click here to view Walkabout Resource's latest Presentation

South-east Tanzania's Premier Graphite District

Walkabout’s Lindi Jumbo Graphite Project is situated in south-eastern Tanzania, approximately 200km from the port of Mtwara. The licences are within the highly prospective Mozambique belt, a region that hosts some of the world’s highest grade, coarse flake graphite deposits.

The Lindi Jumbo Graphite Project In More Detail

The Company holds 100% of a Mining Licence and between 70% and 100% of adjacent graphite prospecting licences at Lindi Jumbo with an enduring option to acquire the remaining 30% share. A high-grade graphite Mineral Reserve has been delineated within the Mining Licence area.

High Grade Large and Jumbo flake Graphite Resource...

Extensive metallurgical testwork indicate that the Lindi Jumbo Project can produce concentrate that contains a “best in class” flake distribution of up to 75% above 180 microns (µm) of high purity (>95% TGC) through an industry standard floatation flowsheet. This includes up to 25% of the graphite flakes above 500 µm (+35 mesh). Further independent testwork indicate that the flakes are highly suitable for the production of expandable graphite and graphite foils with expansion ratios of up 590 cm3/g achieved. This compares very well to the average expansion ratio of 250 times of China sourced graphite.

... With a Low Cost Strategy

Illustrating the progression of the pit by stages. It demonstrates the focus on the shallower, high grade material in the early years with the deepening of the pit taking place later in the life of mine. Walkabout is developing the high-grade Lindi Jumbo Graphite Project in South East Tanzania to take advantage of forecast market conditions for Large and Jumbo flake graphite products.

Lindi Jumbo Project Overview

Click here to read an Overview of Walkabout's Flagship Lindi Jumbo Project

Why Graphite?

While natural flake graphite demand is primarily driven by the steel market, rapid growth in electric vehicle production is expected to drive a big uptick in demand and pricing over the next few years. The large graphite flakes from the Lindi Jumbo Graphite Project have exceptional expandable properties with expandable graphite now a key component in industrial and construction flame retardant material.

Graphite Market Report and Forecast

Click here to view the full Benchmark Mineral Intelligence Graphite Report

The Eureka Lithium Project

Walkabout holds 100% of the prospecting rights over 2,000km2 in what is potentially one of the Namibia’s most prospective regions for lithium bearing pegmatites. The project is located approximately 7km from the AIM listed Kennedy Ventures plc Namibia Tantalite Investment (NTI) Mine (former Tantalite Valley), where Lithium-Caesium-Tantalum (LCT) type pegmatites containing both lepidolite and spodumene lithium mineralisation with grades > 1.6% Li2O have been reported from rock samples.

Northern Ireland and Scotland Projects

Walkabout has expanded exploration operations into this highly prospective but under explored region with the acquisition of gold and base metal prospective licences and joint ventures. Walkabout is currently managing two main exploration joint ventures in the United Kingdom, one in Northern Ireland and the other in Scotland.

Directors & Management

Senior management have a strong track record of creating value in junior mining companies, and includes the successful commissioning and operating of base metal mines.
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Mr Allan Mulligan
Executive Director
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Mr Andrew Cunningham
Chief Executive Officer
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Mr Mike Elliot
Non-Executive Chairman
Clock icon Information current at 16 May 2021

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