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Walkabout Resources Limited

Perth-based African-focused Walkabout Resources (ASX:WKT) is actively exploring for coal and graphite. The flagship Takatokwane thermal coal asset is the largest in Botswana with an Inferred Resource of 6.88 Bt of thermal coal at a 52% yield giving a washed resource of 3.6 Bt (1.63 SG, washed coal) with a CV of 5.350 kcal/kg.

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Walkabout Resources’ focus is on fast tracking development of its Lindi Jumbo Graphite Project. Results to date indicate excellent potential to delineate a high quality resource, producing a high value concentrate. Preliminary metallurgical testwork has generated a concentrate that is comparable to, or better quality than, other African projects. The project is adjacent to Magnis’ Nachu Project and is well served by infrastructure, which will significantly help to minimise capital and operating costs of any operation.

The Company has also brought lithium into the mix through two early stageexploration projects – Haneti in Tanzania and Strathmore in Namibia. Both of these are close to transport infrastructure and towns, and located in areas of known lithium bearing pegmatite occurrences.

We rate Walkabout as a SPECULATIVE BUY, with near term price movers being ongoing positive results from Lindi and the lithium properties – results will include those from the upcoming 1,500m drilling programme at Lindi.

Walkabout Resources is an ASX-listed, African focussed mineral explorer and developer, with activities concentrating on the exploration and development of the key lithium ion battery raw materials of graphite and lithium.

The near term priority is on developing the Lindi Jumbo Graphite Project in Tanzania, with a strategy of a relatively modest start-up, followed by potential future expansions.

Other projects in the Company’s portfolio include the 6.9Bt Takatokwane Coal Project in Botswana, which is currently subject to an advanced Pre-Feasibility study, and the Kigoma Copper Project in Eastern Tanzania, currently on hold given the focus on Lindi.

In the flagship Lindi Jumbo Graphite Project (“Lindi” or “the Project”) Walkabout Resources (“Walkabout” or “the Company”) has a high quality project which the Company is looking to fast track into development. The Project is along strike from Magnis Resources’ (ASX: MNS, “Magnis”) Nachu Project (“Nachu”), with Magnis now enjoying a market capitalisation of some $390 million.

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More details about Walkabout Resources Limited

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Markets: Coal, Graphite