Flinders Resources (FDR.V) has finalized a Letter of Intent with a subsidiary of ThyssenKrupp (TKA) whereby the latter will market between 20,000 and 50,000 tonnes of flake graphite from the company’s Woxna mine in Sweden. The agreement is valid for at least ten years at a rate of 2-5,000 tonnes per year, and there are options to increase the total tonnage in the future.
Flinders has recently reopened the strategically located Woxna graphite mine in Sweden, but despite this news the shares have tumbled from a high of C$1.18/share as recently as August to a low of C$0.45/share in October before gaining back some of its lost ground. At a market capitalization of C$22M the company isn’t expensive and as it’s one of the few producing graphite mines, it could be interesting to dip your toes in.
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Disclosure: The author holds no position in Flinders Resources. Please see our disclaimer for current positions.
