EcoGraf Bolsters Management for Epanko Graphite Project's Next Phase
EcoGraf Limited (ASX: EGR) has announced significant management changes and key appointments for its Epanko Graphite Project in Tanzania. The company's CFO, Howard Rae, has stepped down due to health issues but will continue to support the Epanko loan financing program in a consulting role. Several strategic appointments have been made to prepare for the project's next phase.
EcoGraf has secured a mandate with KfW IPEX-Bank to arrange a senior secured loan facility of up to US$105 million under the German Untied Loan Guarantee scheme. This loan process is primarily supported by the German development bank KfW, which provides guarantee services for the secured credit. The project also involves independent engineering reports for due diligence, and strategic partnership and equity solutions are being explored in parallel.
The company is nearing a critical milestone in its loan financing program for Epanko. The Independent Engineer's Report is expected to be issued shortly. To prepare for the next development phase, EcoGraf has made several key appointments. Maria Du Plooy has been promoted to General Manager - Finance and Joint Company Secretary. Additionally, Michael Bourguignon has joined as Head of Projects for Tanzania, and David Drabble, currently Chief Geologist, will assume senior site responsibilities at Epanko.
EcoGraf's strategy includes the Epanko Graphite Mine in Tanzania, a Mechanical Shaping Facility in Tanzania, EcoGraf HFfree® Purification Facilities near battery manufacturers, and proprietary HFfree® purification technology for battery anode recycling. With these appointments and the progress in loan financing, EcoGraf is well-positioned to advance its Epanko Graphite Project.
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