Bora Bora Resources Limited (ASX: BBR) is a Sydney-based graphite exploration Company focused on the Matale Graphite Project in Sri Lanka. We listed on the Australian Securities Exchange in May 2012.
We are focused on our 75%-owned Matale Graphite Project near Kandy in Sri Lanka. The Matale project is situated on 32km2 of tenements surrounding the historic Kahatagaha Kolongaha Graphite Mine (KKGM), which has operated since 1872 and produced more than 300,000 tonnes of high-grade graphite. We also have additional areas of interest surrounding KKGM under application.
In June 2014, we entered into a binding Heads of Agreement (HOA) with RS Mines (Pvt) Limited (RSM) to acquire an interest in RSM’s Queens Graphite Mine adjoining our exploration areas in central Sri Lanka. The Queens Graphite Mine ore has a run of mine head grade of up to 99%+ total graphitic carbon (TGC) and RSM have developed a process to manufacture graphene oxide, the precursor and building block to graphene technology.
The Queens mining lease covers an area of 21 acres. The land was purchased by RSM in 2011, is fully permitted, and is currently mining graphite. RSM also owns additional land in other potentially high grade graphite bearing areas of Sri Lanka.