24 November 2022

Tirupati Graphite plc

('Tirupati', 'TG' or the 'Company')

Operations and Development Update

Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist graphite and graphene company developing sustainable new age materials, is pleased to provide an update in continuation to its announcement released on 22 September 2022 on the ongoing developments and operations of the Sahamamy and Vatomina projects in Madagascar.

Vatomina operations and development

·    The Vatomina preconcentrate plant continues to operate uninterrupted following its reorganisation and the Company is pleased to advise that:

o Both the preconcentrate and final concentrate plants continue to operate over the name plate ore feed capacity of 600 tons per day completely synchronised with smooth and constant operation;

o The construction and installation of the second preconcentrate plant at Vatomina is now complete, with trial runs and integration to the existing operations in process;

o With reduction in ore movement activities, the current heavy earthmoving mining machinery ('HEMM') fleet has completed the development of other infrastructure and nascent mining areas, which meet the ore feed requirements of the second preconcentrate plant; and

o Strengthening of internal roads and other infrastructure developments at Vatomina are now complete and well prepared to mitigate the risks from adverse weather conditions in the future.

·    The Company does not foresee any challenges in stabilising Vatomina operations at above 1,200 tons ore feed per day with effect from December 2022; stabilising operations at 12,000 tpa output as planned.

Sahamamy operations and development

·    The operations and development of Sahamamy has continued at full pace and the Company is pleased to advise that:

o The new road connecting Sahamamy project to National Highway 2 and Vatomina project has been strengthened throughout the nearly 40 kilometres of road, with the last few kilometres currently under completion;

o The existing 3,000 tpa plant at Sahamamy remained in operation and shall be decommissioned in December following the stabilisation of the second preconcentrate operations in Vatomina;

o Extensive mine development has been executed in the nascent Sahasoa deposits of the Sahamamy project and is ready to provide the required 1,200 tons per day of ore for the new plants;

o Construction and installation of both pre-concentrate plants in Sahamamy are now complete with tests and trial runs initiated;

o Construction and installations at the main processing plant is substantially complete at Sahamamy;

o We remain on target to stabilise operations of the 18,000 tpa plant by end of the current quarter;

o The first power generation from the 100Kw hydro power plant ('HPP') has been achieved during November with integration and commercial use underway with related cost savings expected to commence from December;

o To progress the next HPP of 400 Kw, related studies and application for required approvals have been initiated.

Shishir Poddar, Executive Chairman, said:

"We have come a long way in a short time and have effectively brought under control the impacts of the adverse conditions experienced in Madagascar earlier this year. Our innovative and cost-effective solutions have started to bear fruit. Market conditions for graphite are very positive, and this is the ideal time for us to be increasing production of this critical material.

"With the turnaround of the Madagascan projects now complete, we are again progressing towards our aim of providing approximately 8% of global flake graphite demand."

ENDS

For further information, please visit https://www.tirupatigraphite.co.uk/ or contact:

About Tirupati Graphite

Tirupati Graphite Plc is a specialist graphite and graphene company.  The Company places a special emphasis on "green" applications, including renewable energy and energy efficiency, energy storage and thermal management and is committed to ensuring its operations are sustainable as well. 

The Company's operations include primary mining and processing in Madagascar, where the Company operates two key projects, Sahamamy and Vatomina; 12,000 tpa installed capacity of high-quality flake graphite concentrate with up to 96% purity is currently being produced and sold to customers globally, planned to increase to 84,000 tpa by end 2024 as per the Company's modular medium-term development plan. 

The Company has an acquisition agreement, subject to regulatory approvals, with Tirupati Speciality Graphite Private Limited ('TSG'). TSG operates and is developing a suite of speciality graphite for use in hi-tech applications like lithium-ion batteries, fire retardants, thermal management, and composites. It also operates a technology centre developing advanced materials including graphene and its applications, and mineral processing technology on commercial basis. The Company is working on various possibilities in this respect as announced by RNS on 11 July 2022.