EcoGraf Limited (OTCMKTS:ECGFF) Stock Trades in a Range After Recent Upmove

Although the EcoGraf Limited (OTCMKTS:ECGFF) was trading within a range on Friday, it is quite likely that the stock is going to come into focus among many investors today in light of a fresh development.

Market Stats

On Friday, ECGFF stock ended flat at $0.44 with more than 500 shares, compared to its average volume of 44 shares. The stock has moved within a range of $0.4400 – 0.4400 after opening trading at $0.44.

Approvals Submitted for Construction of EcoGraf HFfree™ BAM Facility

This morning the company made an announcement with regards to the fact that it had made a submission for Works and Development Approvals proposals in relation to the EcoGraf Battery Anode Material Facility that is located in the state of Western Australia. In this situation, it may be a good idea to take a look at some of the major highlights with regards to this submission to have a better idea.

The company has noted that the design of the plant is going to give it considerably flexibility when it comes to the production of both hybrid electric vehicle batteries and standard electric vehicle batteries. In addition to that, the layout of the plant has provisions for adding the production facilities for more products in the future. The announcement made this morning was a major one and it is now going to be interesting to see if the EcoGraf stock can manage to break out into a strong upward move or not.

Key Quote

Managing Director, Mr Andrew Spinks stated, “Finalising the plant layout and submission documents is a milestone achievement by our EcoGraf team and consultants due to the extensive body of work that’s required and includes our recent positive technical results.”