Kingsland Minerals Ltd has provided an update on the Leliyn Graphite Project in the Northern Territory, announcing that its scoping study is nearly complete. The study, which is assessing the economic viability of a 1 million tonne per annum mine and processing facility, is on track for completion in the September 2025 quarter. The project aims to produce a 94% Total Graphitic Carbon (TGC) graphite concentrate with test work for purified spherical graphite—targeted for use in electric vehicles, battery energy storage systems, and other renewable energy applications—also set to conclude soon. The company detailed that the current design for the plant is nearly finalized, including both operating and capital cost estimates. This scoping study is being based on its most recent Mineral Resource Estimate, which identifies 12.3 million tonnes of indicated resources grading 7.9% TGC and an additional 180.2 million tonnes of inferred resources at 7.2% TGC, amounting to approximately 14.0 million tonnes of contained graphite. The announcement also highlights an exploration target, estimated between 700 to 1,100 million tonnes at 7–8% TGC, indicating considerable upside potential if further drilling expands the resource base beyond the current 23% of the available strike length. In parallel, Kingsland is pursuing test work to produce purified, spherical graphite that could meet the quality demands of battery anode material. The company’s cautious, step-by-step approach includes evaluating the mining operations, confirming the viability of producing a high-quality graphite concentrate, conducting additional drilling to upscale indicated resources, and ultimately moving to a pre-feasibility study. A binding offtake agreement with strategic shareholder Quinbrook Infrastructure Partners further underscores the confidence in future production. Market dynamics appear to enhance the project’s prospects. Recent actions by the U.S. have imposed a combined tariff of 160% on Chinese processed graphite products, following an anti-dumping ruling. This policy shift has reset global pricing and increased demand for non-Chinese graphite sources—a development that positions the Leliyn Project advantageously as global players seek alternative supplies for energy storage and electric vehicle applications. The sentiment arising from this announcement is mixed. On the bullish side, the nearing completion of both the scoping study and test work, along with a robust indicated resource base and strong market tailwinds from U.S. tariff actions, provide a compelling case for increased demand and potential price improvements for graphite. Conversely, the bearish view might focus on the inherent risks of early-stage project development, the need for additional drilling to confirm production targets, and uncertainties in market pricing influenced by global trade policies. Overall, while potential challenges remain, the current developments offer promising long-term prospects for Kingsland Minerals Ltd.