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Ceylon Graphite Corp (OTCMKTS:CYLYF) Files NI 43-101 Technical Report: Stock Flat

Ceylon Graphite Corp (OTCMKTS:CYLYF) is moving in a range after the company announced the filing of a technical report prepared by Christian Derosier entitled “Technical Report on the Karasnagala (K1) Exploitation License” on the Sri Lanka-based K1 vein graphite initiative.

Market Stats

On Tuesday, CYLYF stock moved up 1.53% to $0.1489 with more than 3.5K shares, compared to its average volume of 92K shares. The stock moved within a range of $0.1400 – 0.1489 after opening trading at $0.14.

Ceylon Graphite Files NI 43-101 Technical Report For Karasnagala Graphite Project

The report has been prepared as per the National Instrument 43-101 Standard Disclosure for Mineral Projects. The 2022 Technical Report is the updated NI 43-101 Technical Report on K1, superseding previous submitted technical files, and contains a summary of the K1 vein graphite discovery preliminary mineral resource estimation, as published in the company’s news release of December 13, 2021.

Sri Lankan graphite is among the finest in the world, and it’s ideal for a variety of uses, including the fast-growing EV and battery storage businesses and healthcare, construction, and paints. In addition, the Sri Lankan government has issued an IML Category A permit to Ceylon’s subsidiary Sarcon Development (Pvt) Ltd. for its K1 exploration and mining rights on a 120 km square land package. So CYLYF is worth watching.

Traders Corner

CYLYF stock is trading below the 20-Day and 50-Day Moving averages of $0.16 and $0.16 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.14.

Published by Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.

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