Northern Graphite Corp Stock Price, News & Analysis

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.

Northern Graphite provides an update on the development of Porocarb®, a patented high-performance macro-porous hard carbon material for electric vehicles. Since launching its Battery Materials Group, the company has signed agreements with global battery manufacturers and is in advanced discussions for potential partnerships. Porocarb® has the potential to provide a new revenue stream for the company, separate from its battery anode material products.

Northern Graphite (TSXV: NGC) announced its 2023 year-end results, marking a transformative year. The company saw sales rebound, advanced growth catalysts, optimized working capital, and established itself as a sustainable, integrated graphite miner. Despite a net loss of $23.6 million in 2023, Northern is confident in its strategy and competitive position. With key operational highlights and financial insights, Northern is progressing towards becoming a vertically integrated supplier in the graphite market, focusing on battery anode material production for lithium-ion batteries and electric vehicles.