Graphite One Stock Price, News & Analysis

Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) announced an amendment to the terms of 10,429,981 warrants originally issued on August 12 and September 24, 2021. The expiry date has been extended from August 12, 2022, to May 12, 2023, with an added acceleration provision. If the company's share price exceeds $1.75 for 20 consecutive trading days, Graphite One can accelerate the expiry by notifying warrant holders 45 days in advance. The original exercise price remains unchanged at $1.50. No action is required from warrant holders regarding this extension.

Graphite One Inc. has appointed Mr. Bedi A. Singh to its Board of Directors following the Annual General Meeting on June 29, 2022. Singh, who has extensive financial experience with U.S. public companies, previously served as CFO at News Corporation and MGM Studios. His expertise is expected to enhance Graphite One's strategic goals, particularly in establishing a U.S.-based graphite supply chain. The company aims to leverage its Graphite Creek resource, noted by the USGS as the largest graphite deposit in the U.S., to support the growing demand for electric vehicle batteries.

Graphite One announced promising drill results from its 2021 field program at the Graphite Creek Project, identified by the US Geological Survey as the largest graphite resource in the U.S. The results will be included in an upcoming Pre-Feasibility Study (PFS) expected within 45 days. Significant findings include multiple high-grade intercepts, with some exceeding 35% graphitic carbon. The project is positioned to support the U.S. effort to reduce graphite import dependency, which currently stands at 100%. Graphite One aims to establish a comprehensive domestic supply chain for advanced graphite materials.

Graphite One Inc. (GPHOF) has announced the appointment of Mike Schaffner as Senior Vice President of Mining for its Alaskan subsidiary, effective July 1, 2022. Schaffner brings extensive experience from his previous roles, including management at Newmont Mining with a budget of over $750 million. The company is focused on developing a complete U.S. supply chain for graphite materials, with a Preliminary Feasibility Study on track for completion in 2Q 2022. Additionally, Stan Foo, COO, will retire on the same date.

Graphite One Inc. (TSXV: GPH, OTCQX: GPHOF) has appointed Scott Packman to its Board of Directors, expanding the board from four to five members. Packman brings extensive experience as General Counsel at Madison Square Garden Entertainment and MGM Holdings. His expertise is expected to enhance the company's strategic direction, particularly in developing a complete advanced material supply chain for graphite. Notably, the Biden administration's recent actions highlight the significance of graphite in battery materials, aligning with Graphite One's focus on domestic supply chains. The company plans to publish a Preliminary-Feasibility Study in Q2 2022.

Graphite One Inc. (GPHOF) has signed a memorandum of understanding (MOU) with Sunrise New Energy Material Co., Ltd. to collaborate on the development of a U.S.-based graphite anode production facility. This partnership aims to leverage Sunrise's expertise for the facility's design and operation, enhancing the supply chain for lithium-ion battery materials in North America. A prefeasibility study detailing the project will be released in the first half of 2022. Sunrise operates a significant anode production facility in China, further solidifying this strategic alliance.

Graphite One Inc. has entered a non-binding Memorandum of Understanding with Lab 4 Inc. to collaboratively design and build a recycling facility for end-of-life EV and lithium-ion batteries. This facility will be located next to Graphite One's advanced materials manufacturing plant in Washington State. The partnership aims to create a fully integrated domestic supply chain for graphite production in the U.S., which is currently entirely dependent on imports. The Graphite Creek deposit in Alaska has been recognized as the largest known graphite deposit in the U.S.

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.