Flinders Resources has an agreement to acquire 100% of Kringelruvan AB ("Woxna"), a private Swedish company. Kringelgruvan has 100% ownership of the Kringel Graphite Project, a unique and strategic European graphite project in central Sweden. The Kringel Project, capacity 13,000 tonnes per year of flake graphite, operated from 1996 to 2001, when it closed due to falling graphite prices. Since then, the Kringel Project has been held on care and maintenance, and is ready to be brought back to production. The Kringel Project is unique due to its high quality large graphite flake, long life expandable resource, first class existing infrastructure, potential to upgrade to value added battery graphite and its strategic position within the European Union.
