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GRAPHITE ONE INC. (GPHOF) is a company focused on developing a complete U.S.-based supply chain for advanced graphite materials. The company's core business involves mining, processing, and manufacturing anode active materials primarily for lithium-ion electric vehicle batteries and energy storage systems. Their Graphite Creek Property in Alaska is set to be a key component of their vertically integrated enterprise. With major projects underway in Ohio and Alaska, Graphite One is striving to achieve self-reliance for the U.S. in terms of critical minerals like graphite. The company has made significant progress in securing Department of Defense grants and establishing partnerships to enhance its market presence.
Graphite One Inc. (GPHOF) has welcomed President Biden's announcement classifying graphite and other critical battery materials as essential to national defense under the Defense Production Act (DPA). This designation enables federal support for domestic production of these minerals, emphasizing their importance in transitioning to a clean energy economy and reducing reliance on foreign sources. Graphite One aims to establish a full supply chain for graphite-based products, capitalizing on its Graphite Creek resource in Alaska, recognized as the largest U.S. graphite deposit.
Graphite One Inc. has selected Washington State as the site for its advanced materials processing plant, aiming to produce battery anodes domestically. This decision underscores a move toward a 100% U.S.-based graphite supply chain, utilizing hydro power to reduce production costs significantly, as Washington's average electricity rate is 5.81 cents per KWh, lower than the national average of 7.26 cents. The facility is expected to create around 130 high-wage jobs and will be linked to a graphite resource in Nome, Alaska.
Graphite One Inc. (GPHOF) announced that its Graphite Creek resource in Alaska is recognized by the U.S. Geological Survey as the largest known graphite deposit in the U.S. The U.S. is 100% import-dependent for graphite, making this designation significant as it may help secure a domestic supply of this critical mineral.
The updated resource estimates include 10.95 million tonnes of measured and indicated resources, and the company plans to release a Preliminary Feasibility Study in April.
Graphite One Inc. has announced the retirement of Chief Financial Officer W. Alan Ahlgren after 7 years, with Gordon Jang appointed as Interim CFO. Jang, a CPA, CMA, brings over 25 years of experience in senior management within the mining sector. His prior roles include VP of Finance at Fortuna Silver Mines. The company continues to progress on its Graphite One Project, aiming to integrate domestic graphite resource production and achieve vertical integration for lithium-ion battery anode materials. A production decision will follow the completion of a feasibility study.
Graphite One Inc. (OTCQX:GPHOF) announces progress in testing a biodegradable fire suppressant foam using materials sourced from its Graphite Creek deposit, now assessed by the U.S. Navy. The foam aims to replace hazardous Aqueous Film Forming Foams (AFFF) set to be phased out by 2024. The global fire suppression market is projected to reach $18.3 billion by 2026. With 100% dependency on graphite imports, the company’s strategic development includes establishing a U.S.-based supply chain for advanced graphite materials and a battery anode manufacturing plant.
Graphite One Inc. (TSXV:GPH)(OTCQX:GPHOF) reported a successful 2021, raising over CA$30 million in capital. The Company conducted a drill program covering 2,052 meters, supporting the potential of its Graphite Creek deposit for a long mine life. Anticipating increased demand for graphite in EV and energy storage sectors, Graphite One is on track to complete its Pre-Feasibility Study in Q1 2022. The company is also advancing research on materials for batteries, fire suppression, and synthetic diamonds, while addressing supply chain concerns raised by industry leaders.
Graphite One Inc. has concluded its 2021 field program at the Graphite Creek Project in Alaska, drilling 2,052 meters. The program included core and sonic drilling for resource assessment and geotechnical data collection. Results from the drilling, which revealed visible graphitic mineralization, are expected to be published in Q1 2022. With recent funding of CDN $21 million, the company aims to advance its Preliminary Feasibility Study and begin its Feasibility Study post-PFS. The Graphite Creek deposit is significant for its potential role in the U.S. graphite supply chain.
Graphite One Inc. (TSXV:GPH) (OTCQX:GPHOF) has announced a significant advancement for graphite, with its recent inclusion in the U.S. National Defense Stockpile Acquisitions List for 2022. This reinforces graphite's critical role in national security and technology sectors as the U.S. remains reliant on imported graphite, primarily from China. The company has secured over CDN $21 million in funding to develop its Graphite Creek deposit, the largest known graphite deposit in the U.S., supporting a projected demand increase of 494% for graphite in clean energy applications by 2050.
Graphite One Inc. (OTCQX:GPHOF) has successfully closed the second tranche of its private placement financing, raising CA$998,000. This tranche issued 998,000 units at CA$1.00 per unit, each consisting of one common share and one purchase warrant, allowing acquisition of shares at CA$1.50 until August 2022. The proceeds will fund exploration at its Graphite Creek Property and for general corporate purposes. Regulatory approvals are pending. The company aims to position itself as a key player in the high-grade graphite market.
Graphite One Inc. (TSXV:GPH)(OTCQX:GPHOF) has received TSX-V approval to extend the closing date for its CA$12 million brokered private placement financing to September 24, 2021. Following the first tranche closure on August 12, 2021, which raised CA$10.23 million, the second tranche is anticipated to raise approximately CA$1.77 million. This financing, conducted with Canaccord Genuity Corp., is integral for the development of the Graphite One Project, aimed at becoming a U.S. producer of high-grade Coated Spherical Graphite for the lithium-ion battery market.
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