Name of the Project
Kookaburra graphite project (KGP).

Location
North of Port Lincoln, Eyre peninsula, South Australia.

Project Owner/s
Australian graphite developer Lincoln Minerals.

Project Description
The KGP consists of Kookaburra Gully and Koppio, as well as the Kookaburra Gully SW Extension.

The project involves mining and processing known graphite deposits in and around the Kookaburra Gully mining lease.

The project is proposed to be developed sequentially using a staged approach, with initial low startup risks and costs leveraging the current approved mining lease 6460.

A mining contractor will use conventional truck-and-shovel openpit methods.

Stage 1 of the project will process 75 000 t/y of process feed, initially producing 10 000 t/y of high-quality graphite concentrate.

Stage 2 will process 500 000 t/y of process feed, initially producing 60 000 t/y of high-quality graphite concentrate.

Stage 1 is envisioned to operate for two years, depending on the market price of the graphite product and the approval of the second-stage mining lease. Stage 2 is expected to produce from Year 3.

The mineralisation will be processed using simple crushing, flotation and thickening of the graphite material to produce a graphite concentrate that is filtered, dried and bagged for sale to downstream graphite processors.

The project has a current mine life of up to 16 years.

Potential Job Creation
Details on job creation are not specified in the PFS, but workforce recruitment, primarily from local communities, is anticipated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 10% discount rate, of A$114-million and an internal rate of return of 41%. 

The project has a short payback of 2.4 years from the start of Stage 2, and an overall 4.4 years from the start of Stage 1.

Capital Expenditure
Stage 1 is estimated at A$29-million and Stage 2 at A$24-million.

Planned Start/End Date
A financial investment decision for Stage 1 is expected at the end of 2026, with first production expected in 2027.

Latest Developments
KGP has been featured in the updated Australian Critical Minerals Prospectus for 2025, published by Austrade.

The prospectus highlights Australia’s most advanced and strategically significant critical minerals projects, helping international investors and partners identify high-potential opportunities in key supply chains.

Lincoln continues to explore strategic pathways to advance KGP, including offtake partnerships, funding solutions and value-added graphite processing.

Key Contracts, Suppliers, and Consultants
Ammjohn (process engineering study updates); and Gaia Environments (environmental studies and project oversight).

Contact Details for Project Information
Lincoln Minerals, email investors@lincolnminerals.com.