While the tangible benefits of the accreditation weren't explicitly stated, the news is understood to represent a strong endorsement of the planned development. 

Certainly investors were impressed, with the stock being marked up strongly during a session when most in the resource sector were losing ground. 

Last month EcoGraf indicated it was moving to finalise EPC arrangements and complete engineering programs with GR Engineering for the construction of the initial 5000tpa processing facility. 

EcoGraf is fully funded for this A$30 million development given a recent equity raising totalling $54.6 million. 

However, EcoGraf is seeking to arrange a US$35 million debt financing with the Australian Government for the expansion of the West Australian facility to 20 ,000tpa, with that development costing $49 milion. 

EcoGraf managing director Andrew Spinks told MNN further funding from government sources could be sought. 

First production from the BAM facility could be seen late next year. 

Shares in EcoGraf were up 13% to A68c in late trade, capitalisng the company at $247 million. 

The recent equity raising priced new shares at 60c each.