Metals Australia (ASX:MLS) Canadian subsidiary Lac Rainy Graphite secured up to CA$660,000 in grant funding from the Quebec Ministry of Natural Resources and Forests to advance the Lac Carheil flake graphite concentrate plant design, according to a Thursday filing with the Australian bourse.
The Mining Research and Innovation Program grant will fund further process equipment investigation and metallurgical test work for major process features of the plant design that are progressing to pre-feasibility level, the filing said.
The work is scheduled to start following the drilling and planned extension of the Lac Carheil graphite mineral resource, per the filing.
Shares were up 5% in afternoon trade Thursday.
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