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Northern Graphite Corporation (NGPHF) is a Canadian company focused on producing natural graphite critical to the green economy. With a strong focus on the battery materials market, the company is working on projects to become a key supplier of anode material for lithium-ion batteries and electric vehicles. The cornerstone Lac des Iles mine in Quebec and the Okanjande project in Namibia play a pivotal role in Northern's strategy to supply the emerging EV market in North America and Europe.
Northern Graphite (NGPHF) has announced significant price increases for its graphite products in 2025 to offset rising production costs and inflation. The company's Lac des Iles (LDI) processing facility, which was halted for maintenance on November 2, is scheduled to resume operations on January 13, 2025.
The company reports a strong order book to start the year, attributed to robust demand, recent geopolitical events, and supply chain concerns. The LDI mine, which transitioned to a seven-days-a-week schedule in April 2024, achieved a 59% year-over-year increase in output. Northern Graphite aims to further increase production as part of its strategy to become a vertically integrated, mine-to-market supplier serving both traditional customers and the emerging battery anode material (BAM) market.
Northern Graphite reported Q3 2024 results with record sales volume but lower prices. Revenue was $6.7 million from 4,080 tonnes sold at $1,644/tonne, down 17% from Q2. The company posted a $4.8 million net loss with cash costs of $1,413/tonne. Lac des Iles (LDI) mine saw increased production with a 7-day schedule, boosting sales volumes 53% YoY. However, financial challenges persist with $31.7M in debt classified as current liabilities due to covenant breaches. The company plans a two-month maintenance shutdown at LDI, reopening January 2025 at higher throughput. A new pit development and drilling program are underway to extend mine life.
Northern Graphite (TSXV: NGC) (OTCQB: NGPHF) announces a temporary shutdown of its Lac des Iles (LDI) processing facility from November 2nd to January 6, 2025, for maintenance and repairs. This move aims to increase throughput to meet growing demand for natural graphite sourced outside China. The company will supply customers from existing inventories during the shutdown.
LDI's potential to produce more than anticipated when acquired in 2022 has led to plans for opening a new pit and increasing mill throughput. Northern's mining division is exploring operational scenarios following a successful 2023 drilling campaign and new resource estimate. The company's Battery Materials Group is advancing discussions with OEMs and battery makers, developing its battery materials portfolio, and seeing positive results for its Porocarb® product from leading global battery manufacturers.
Northern Graphite (TSXV: NGC) (OTCQB: NGPHF) announced the resignation of Guillaume Jacq as Chief Financial Officer (CFO), effective November 30, 2024. Mr. Jacq will continue to serve as CFO until his departure. The company will initiate a formal search process for a successor.
In the interim, Niall Moore, Northern's Group Controller, will assume the responsibilities of the CFO role. Mr. Moore is a Chartered Professional Accountant with over 35 years of experience in financial management and reporting, including working as an Audit Partner at Ernst & Young LLP and as a Corporate Secretary and Group Controller at PolyMet Mining Corp.
CEO Hugues Jacquemin expressed gratitude for Mr. Jacq's contributions and confidence in Mr. Moore's ability to manage the transition.
Northern Graphite and Rain Carbon Inc. have announced a Joint Development Agreement (JDA) to develop and commercialize advanced natural graphite-based Battery Anode Material (BAM) for lithium-ion batteries in electric vehicles. The collaboration aims to create BAM products that extend cycle life, enhance charging speed, and reduce electrode swelling in battery cells. This innovation addresses the stability gap between natural and synthetic graphite, potentially increasing the use of natural graphite in EV batteries.
The partnership combines Northern's expertise in graphite mining, milling, shaping, and purifying with RAIN's advanced coating capabilities. The joint development will take place at Northern's Battery Materials Group laboratory in Frankfurt and RAIN's Technology Innovation Center in Hamilton, Canada. The collaboration is expected to produce lower-cost, higher-quality BAM that meets the demands of battery manufacturers and consumers while addressing environmental concerns linked to synthetic graphite production.
Northern Graphite (TSXV: NGC) (OTCQB: NGPHF) reported Q2 2024 results, highlighting:
- Revenue of $5.5 million from 2,772 tonnes of graphite concentrate sold at $1,972/tonne avg.
- Increased production at Lac des Iles (LDI) mine to 4,082 tonnes, up 59% from Q1.
- Near-record sales volumes, 38% higher than Q2 2023.
- Implemented cost control measures to preserve working capital.
- Net loss of $9.4 million ($0.07 per share) including non-cash charges.
- Ongoing discussions to amend terms of senior secured loan and royalty financing.
The company is advancing its mine-to-market strategy, targeting battery anode material production and exploring partnerships with battery manufacturers for its Porocarb® technology.
Northern Graphite has secured a grant of up to C$400,000 from Quebec's Ministry of Natural Resources and Forests for its Lac des Iles drilling program. The grant will cover 50% of eligible geo-metallurgical and geo-environmental drilling expenses this year. The funding, part of Quebec's Mineral Exploration Support Program, aims to bolster the development of critical and strategic mineral deposits in the province. CEO Hugues Jacquemin highlighted the significance of this support for the company's contribution to Quebec's energy and technological transition. The company anticipates extending the Lac des Iles mine life by approximately eight years based on a new reserve estimate. A Phase II drilling program is also planned to explore additional targets. Preliminary findings suggest significant graphite mineralization, bolstering confidence in further extending the mine's lifespan.
Northern Graphite (NGPHF) reported record sales volumes and revenue for Q1 2024, driven by strong customer demand. Revenue reached $5.5 million with 2,968 tonnes of graphite concentrate sold. Despite this, the company faced a net loss of $8.8 million primarily due to increased cash costs and non-cash charges. The Lac des Iles (LDI) mine's production ramp-up to 25,000 tpy aims to support growing demand and operational income, though it strains working capital. The company is also advancing its Battery Anode Material (BAM) strategy, aiming to meet the needs of the EV market. Strict cost control measures are being implemented to preserve working capital. Cash and equivalents stood at $0.7 million as of March 31, 2024, down from $3.1 million at the end of 2023. The Okanjande project remains on care and maintenance pending project financing.
Northern Graphite (NGPHF) has expressed support for the Biden Administration's decision to impose a 25% tariff on natural graphite imports from China starting in 2026. This move aims to bolster the North American graphite industry by making local companies more competitive and secure. The Administration has also granted OEMs a two-year transition period to source Battery Anode Material from China while committing to agreements with North American producers to maintain eligibility for a $7,500 tax credit.
Northern Graphite recently updated the mineral resource estimate for its Lac des Iles mine, potentially extending its life by eight years, contingent upon further validation. The company aims to enhance its production capacity and secure its position as a key supplier for industrial and Lithium-Ion battery manufacturers in North America.
Northern Graphite comments on the new U.S. graphite procurement regulations announced by the Biden Administration. The regulations require OEMs to show progress towards a North American supply chain by January 2027. The Administration's decision allows a two-year transition period for sourcing Battery Anode Material (BAM) from China while establishing local production. Northern Graphite is working with OEMs to secure supply agreements for graphite anode material, aiming to support the EV revolution in North America.
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