Canadian mineral exploration firm Energizer Resources has completed a transaction to consolidate its ownership in the Molo graphite project in Madagascar.

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Energizer acquired the remaining 25% interest in the Molo project from its joint venture (JV) partner Malagasy Minerals.

The company will also own 100% of the industrial mineral rights within the acquired property, which comprises 2,120 claims totalling 363 square miles.

The Molo deposit area is just 0.3 square miles, representing less than 1% of the total land package.

"100% ownership is highly preferred and so this transaction should certainly help facilitate those discussions."

The agreement requires Energizer to make cash and share payments over various stages and complete the full feasibility study, as well as the start of commercial production at Molo.

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