- Business
- Applied Graphite Technologies Corporation (TSX-V: AGT) engages in the exploration, evaluation, and development of high-grade vein graphite properties in Sri Lanka to supply the lithium-ion battery industry and other advanced applications. The company owns 100% interest in the Dodangaslanda Graphite project, comprising the D1 and Q2 land parcels located approximately 128 kilometers from Colombo; it also holds the adjacent Queens Mine, forming the Queens Mine Complex (QMC) with extensive graphite veins up to several meters thick, historical underground development, and recent geophysical drilling by prior operators. These assets feature exceptionally high-purity natural vein graphite exceeding 95% carbon content, high crystallinity, and superior electrical and thermal conductivity, positioning AGT to produce battery-ready anode material amid surging demand from electric vehicles and energy storage. Headquartered in Vancouver, Canada, and founded through a 2024 qualifying transaction as a former capital pool company (previously Audrey Capital Corporation), AGT operates solely in Sri Lanka's premier graphite district alongside major historic mines like Kahatagaha-Kolongaha and RS Queens. Recent developments include the March 2024 acquisition and closure of the Queens Mine to consolidate the QMC and prioritize bulk production following permitting; September 2024 expansion of surface rights at Queens; successful geophysical surveys confirming vein extensions; and the November 2024 appointment of Robert Scott as Chief Financial Officer to bolster financial reporting for advancing operations.