Lincoln Minerals (ASX: LML) is focused on the development of the Kookaburra Gully Graphite Project, located on the Eyre Peninsula in South Australia.
Eyre Peninsula is Australia’s foremost graphite province and home to one of Australia’s largest resources of this strategically important mineral. Graphite is a key component of lithium-ion batteries that power electric vehicles and renewable energy storage systems.
The Kookaburra Gully Graphite Project has Measured, Indicated and Inferred Resources of 3.88Mt at 12.6% TGC using a 5% TGC cut-off (refer ASX release: Total, Measured, Indicated and Inferred Mineral Resources for Kookaburra Gully graphite deposit as announced in 2022 Annual Report to Shareholders, 17 Oct 2022).
A Feasibility Study demonstrated Kookaburra Gully’s potential for a 10-year mine life with a pre-tax net present value (NPV) of A$81M and an internal rate of return (IRR) of 33%.
Lincoln currently updating this Feasibility Study, completed in 2017, with results from drilling and reinterpretation of the graphite mineralisation as a result of a successful drilling program in 2023 before progressing its development on the Kookaburra Gully project.
Lincoln also holds key mineral licences in the Eyre Peninsula region and has defined Mineral Resources for iron ore (magnetite and hematite) at Gum Flat and copper and gold exploration prospects among its portfolio.