Additional results include a 47.6m intercept at 31.3 per cent TGC from the surface including 13.9m at 40.2 per cent and a 6.8m hit grading 37 per cent in the same hole.

With the demand for electric vehicles (EVs) and associated lithium batteries continuing to rise, Sarytogan is likely to be in the crosshairs of offtake providers as 15 times more graphite is used in batteries than lithium.

The two key parts of a lithium battery are the anode, which is connected to the positive terminal, and the cathode, connected to the negative terminal. The cathode is loaded with green metals such as lithium, nickel, manganese and cobalt, which has resulted in tremendous financial interest as explorers, miners and battery-makers have fervently pursued them.

Importantly though, graphite is the primary metal of consequence in the anode. Although it has not enjoyed the high profile of lithium and nickel, graphite is crucial for lithium batteries.

While the lithium price has cooled and the fervour around battery metals has subsided temporarily, many believe the EV and lithium battery industry is merely in an intermission. And graphite is expected to play a critical role in the next phase of the industry as without it, there is no traditional lithium battery.

Sarytogan’s concerted efforts reflect a strategic approach to securing its necessary approvals and moving forward with its large-scale graphite project in a bid to position the company for continued progress in the coming months.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au