3 Best-performing Canadian Graphite Stocks in 2024

Year-to-date gain: 70 percent; market cap: C$13.49 million; share price: C$0.35

Exploration-stage resource company Lomiko Metals is working on the La Loutre large-flake graphite project as well as the Bourier lithium project, both located in Québec, Canada.

Shares of Lomiko traded mostly flat for much of the year, but a spate of positive newsflow generated by activity at La Loutre helped boost its share price to a year-to-date high of C$0.70 on May 28.

In April and May, the company announced testing results that demonstrate La Loutre's viability in supplying the EV battery anode market. “Lomiko has now successfully demonstrated the full value chain from ore to battery anode material on samples from the La Loutre project,” said Belinda Labatte, Lomiko CEO and interim chair of the board.

In other good news for the company and its shareholders, in mid-May Lomiko’s La Loutre project was awarded a US$8.35 million, or C$11.4 million, grant from the US Department of Defense as part of a Technology Investment Agreement, as well as C$4.9 million in funding from Natural Resources Canada.

Year-to-date gain: 50 percent; market cap: C$20.33 million; share price: C$0.12

Black Swan Graphene describes itself as an emerging powerhouse in the bulk graphene business.

The company is a spinout of Mason Resources (TSXV:LLG,OTCQX:MGPHF), which owns the Uatnan graphite project in Québec, and holds a 39 percent stake in Black Swan. Graphite from Uatnan is used to supply Black Swan.

UK-based global chemicals manufacturer Thomas Swan & Co. holds a 15 percent interest in Black Swan, and brings a portfolio of patents and intellectual property related to graphene production. Through this partnership, Black Swan is building out a fully integrated supply chain from mine to graphene products.

Black Swan’s share price so far this year has benefited from the launch of a number of new graphene products, such as its GraphCore 01 family of graphene nanoplatelets products. Announced in April, these products include powders and polymer-ready masterbatches designed for the polymer industry.

Shares of Black Swan reached their highest year-to-date price of C$0.15 on June 19 following the announcement of a commercial partnership with advanced materials engineering company Graphene Composites. It will see Black Swan’s graphene used in the fabrication of GC Shield, a patented ballistic protection technology.

Year-to-date gain: 28.47 percent; market cap: C$7.48 million; current share price: C$0.045

Ceylon Graphite is an explorer and producer with a land package comprising 121 square kilometer grids containing historic vein graphite deposits in Sri Lanka, including the M1 graphite mine.

Ceylon plans to build a graphite processing plant at the M1 site to process the graphite to 99 percent purity, and supply anode material to the battery industry. Its license renewal for the site was delayed since last year following what it called “a series of changes in the licensing process, requirements and personnel.”

In May, the company had good news to report as the IML C license at M1 was finally renewed. Management said it would recommence graphite mining immediately. Ceylon’s shares reached a year-to-date peak of C$0.06 on June 6.

“The site is highly prolific with many large graphite veins,” Head of Mining Klaus Leiders said. “We are targeting a minimum of 200 tonnes per month from M1 once we have scaled and implemented efficiencies.”