Initial test results suggest that the graphite met all specifications and quality requirements to produce battery anode material.

A Japanese manufacturer of battery anode material and a European supplier of spherical graphite for electric vehicles (EVs) carried out the testing under a non-disclosure and confidentially agreement with Energizer Resources.

The tests were performed to identify the potential for Molo deposit to be an alternative and sustainable spherical graphite concentrate natural source to deliver battery anode material for the EV market.

Energizer Resources president and CEO Craig Scherba said: "We are pleased to have highly reputable, third-party validation that our Molo concentrate can be manufactured into high-quality spherical graphite for electrical vehicles. This positions Energizer well for this burgeoning market."

Energizer is now qualified to enter into the next phase of product analysis, which will include further bulk-sample testing stages.

The company is in negotiations with parties on expected timelines and logistics of additional stages, including potential off-take agreements.

An independent source engaged in manufacturing battery-grade spherical graphite specifically for lithium-ion battery applications is due to unveil test results on Molo concentrate.