FOCUS GRAPHITE INC - FCSMF STOCK NEWS

Focus Graphite (OTCQX:FCSMF) announced significant results from its 2022 drilling program at the Lac Tétèpisca graphite project in Quebec. Notably, drill hole LT-22-135 intercepted 77.14 meters grading 17.63% graphitic carbon (Cg), indicating strong mineralization potential. Results from nine additional holes showed promising grades and thicknesses across the strike of the Manicouagan Ouest Graphitic Corridor (MOGC). The drilling highlighted variation in mineralization between the north and south ends of the deposit, suggesting extensive resource potential. The company is awaiting further results to refine resource estimates, enhancing its position in the flake graphite market.

Focus Graphite Inc. (OTCQX:FCSMF) announced the filing of a National Instrument 43-101 technical report supporting the Feasibility Study Update (FSU) for its Lac Knife graphite project in Québec.

Prepared by DRA Global Limited, the report indicates no material change in project profitability. Key financial highlights include a pre-tax NPV of $500.6 million CAD and an after-tax NPV of $284.8 million CAD, reflecting minor adjustments from previous figures. The pre-tax IRR is now 29.1%, with a payback period of 2.88 years. The total capital expenditure is maintained at $236.5 million CAD.

Future activities involve consultation with the local Innu community, completion of environmental assessments, and securing project financing to advance the project to the engineering phase.

Focus Graphite (OTCQX:FCSMF) announced significant updates regarding its Lac Knife Project in Quebec. The Feasibility Study Update (FSU) indicates a pre-tax NPV of $500.9 million and an IRR of 28.7% over a 27-year mine life. The project is poised to produce 47,781 tonnes of flake graphite concentrate annually. The after-tax NPV is $285.7 million with an IRR of 22.4%. Emphasizing high purity (99.7% Cg) graphite, the company aims to meet growing demand in the North American electric vehicle (EV) market. Next steps include environmental assessments and consultations with local communities.

Focus Graphite Inc. (TSXV:FMS) has announced an amended stock option plan, increasing the number of shares reserved for options from 11,033,278 to 11,504,920, which constitutes 20% of the outstanding shares. This change, adopted by the Board on February 23, 2023, requires shareholder approval at the upcoming meeting on April 19, 2023, along with final approval from TSX-V. The company aims to enhance shareholder value through the development of its Lac Knife and Lac Tetepisca graphite projects and specialty graphite products, including battery-grade spherical graphite.

Focus Graphite Inc. has announced promising results from the initial five definition holes drilled at the Manicouagan Ouest Graphitic Corridor (MOGC) deposit. These results highlight the potential for significant deposit extension at depth. The drilling program, completed between March and November 2022, involved 14,900.5 meters across 74 holes, with a focus on deep definition drilling along the MOGC deposit. Notable intersections include hole LT-22-130 with 86.66 meters grading 15.00% Cg and other holes showing substantial graphite content. The company anticipates additional results from 22 more deep holes soon, contributing to a mineral resource update planned for Q3 2023.

Focus Graphite Inc. has successfully closed a non-brokered private placement, raising $842,616 in gross proceeds. This funding round involved issuing 988,640 common shares at $0.65 each and 500,000 units at $0.40 per unit, with each unit comprising one common share and one-half warrant. The warrants allow for the purchase of additional shares at $0.65 until December 29, 2023. The issuance is subject to a four-month hold, pending final approval from the TSX Venture Exchange.

Focus Graphite plans a non-brokered private placement of up to 500,000 units at $0.40 per unit for total proceeds of $200,000. Additionally, it will offer up to 987,692 flow-through shares at $0.65 per share, aiming for $642,000. The proceeds will fund operations and the Tetepisca drilling program. The offerings will close in tranches, pending necessary approvals. Shareholders approved an amendment increasing options under the stock option plan to 11,033,278. Focus Graphite aims to enhance shareholder value through mining and innovative graphite production.

Focus Graphite has completed its 2022 drilling program at the Lac Tététpisca project, achieving 14,900.5 metres from 74 holes, including 6,640.2 metres on the Manicouagan Ouest Graphitic Corridor. The project finished ahead of schedule and under budget, highlighting a significant achievement for the company. Analytical results are pending, and the project is expected to yield substantial mineralized drill core for further testing. The Lac Tététpisca project hosts an indicated resource of 59.3 million tonnes, grading 10.61% graphitic carbon.