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Quarterly Activities/Appendix 5B Cash Flow Report
Highlights.
- Integrated Springdale–Collie Mine to Market Scoping Study released in January 2024 demonstrating a world class development project
- One of the few vertically integrated graphite mining and processing operations planned within a single Tier 1 jurisdiction and targeting lithium-ion battery markets
- Study demonstrates Springdale will be a high grade, shallow, fine flake, multi-decade life graphite mine with low start up and operating costs and expansion opportunities - a perfect fit for the battery anode industry
- Battery testwork program completed in Germany with outstanding conductivity results for Springdale concentrates
- New micronising qualification plant successfully commissioned at Collie providing sample product for customer qualification and testing
- Cash at bank at quarter end of $1.0M with a further $2.0M due to complete previous government grant commitments
- $1.5M loan to major shareholder Comet Resources and control of the Comet Board
Events after the reporting period.
- More support from the Western Australian Government with a further $6.5M grant awarded to progress downstream processing in Collie
- Successful $3.0M share placement and launch of
- $1.0M Share Purchase Plan (SPP)
Click here for the full ASX Release
This article includes content from International Graphite, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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International Graphite
Overview
Unprecedented demand for battery metals is swinging attention to graphite and the critical role it plays in the batteries needed to power electric vehicles and renewable energy, and global hopes for a sustainable future.
This is where International Graphite (ASX:IG6) comes into play. Based in Western Australia, the company is on track to be one of Australia's first mine-to-market graphite producers and a new supplier of battery anode material to global battery manufacturers.
Of all the components in a lithium-ion battery, the biggest volume is in graphite which makes up 95 percent of the battery anode. It can take 50 to 100 kilograms of graphite to make a single battery – up to 10 times more graphite than lithium.
Photo credit: Visual Capitalist
Analysts agree that demand for graphite is inextricably linked to the surging demand for clean energy and graphite is in limited supply. The world now faces a significant shortage – one which will only grow more severe as economies ramp up their efforts to achieve net-zero.
The United States alone predicts a graphite shortfall of up to 1.2 million metric tons by 2030, to say nothing of how severe the shortage is likely to be on a global scale.
The graphite supply chain is racing to keep pace. Benchmark Mineral Intelligence predicts the world will need at least 97 new flake graphite mines by 2035. Although opening new graphite mines is a good start, the raw material alone will not meet the need for high quality, processed graphite suitable for making battery anodes. Currently, nearly every kilogram of battery anode material is processed through China and battery manufacturers worldwide are looking for additional and alternative supply. The pressure is on resource nations worldwide to develop downstream processing capability.
International Graphite is currently developing a planned graphite mine at Springdale, on Western Australia’s south coast, linked to a state-of-the-art research and downstream processing hub in the industrial town of Collie.
A pilot scale micronising and spheroidising plant with a capacity of approximately 4,000 tons per annum (tpa) has been commissioned at Collie, which is in the centre of Western Australia’s main electricity generation grid. International Graphite received a total of AU$8.5 million grant from the Western Australian government to support Australia’s first purpose-built graphite processing facility that will significantly increase the nation’s sovereign supply of critical battery minerals. The company intends to use the funds to advance its micronising operations and progress the design of downstream battery anode facilities, and mine-to-market battery anode feasibility work for processing of graphite concentrate feed from its Springdale graphite project.
The company’s vision for a complete mine-to-market business is designed to achieve maximum value from the natural graphite resource. Operating exclusively in Western Australia, it leverages one of the most attractive jurisdictions in the world for resource investment with the backing of supportive government policy and an ethical graphite supply chain built on the United Nations Sustainable Development Goals.
Ultimately, International Graphite is designing its entire business to be as efficient and sustainable as possible, bringing new graphite supplies to market, new jobs to Australian regional communities, and new export opportunities to the nation. Its model is closely aligned with the Australian Government's critical minerals strategy and the Western Australian Government's vision for a world-class renewable energy and battery hub around Collie.
To date, International Graphite has received more than AU$6.7 million in combined state and federal government investment.
Company Highlights
- International Graphite (ASX:IG6) is on track to be one of Australia's first mine-to-market graphite producers and a new supplier of battery anode material to global battery manufacturers.
- Primary focus is battery anode material for lithium-ion batteries, supporting the global revolution in electric vehicles and green energy technologies.
- Operating exclusively in Western Australia, one of the world’s most reliable and attractive jurisdictions for resource investment and mineral supply.
- Currently developing a planned graphite mine at Springdale and a state-of-the-art research and downstream processing hub in the industrial town of Collie.
- 100-percent company-owned graphite resource at Springdale is expected to support a long life mining operation ensuring a secure, stable supply of graphite concentrate feed for value-added processing.
- Downstream facilities being developed in Collie – the heart of Western Australia’s power generation infrastructure.
- A micronising pilot plant has been commissioned with commercial micronising scheduled by 2024.
- Enormous graphite potential at Springdale Graphite Project following successful 2022/2023 drilling campaign.
- Total Springdale mineral resource estimate grew from 15.3 Mt @ 6 percent total graphitic carbon (TGC) to 49.3 Mt @ 6.5 percent TGC, making it the second largest known graphite deposit in Australia.
- The Springdale Graphite Project was named Discovery of the Year in the 20th annual Australian Mining Prospect Awards.
- The integrated business is underpinned by strong technical expertise and rigorous environmental social and governance standards.
- A total of AU$8.5 million from the Western Australian government was awarded to the company to support Australia’s first purpose-built graphite processing facility expected to significantly increase the nation’s sovereign supply of critical battery minerals.
Key Projects
Springdale Graphite Resource
Outstanding results have been achieved from exploration drilling at Springdale, on Western Australia’s south coast, where International Graphite owns a high-grade fine flake graphite deposit.
Comprising three exploration licenses and a prospecting license covering a total area of 180 square kilometers, International Graphite’s Springdale Project is located 25 kilometres east of Hopetoun and 150 kilometres from the port of Esperance on Western Australia’s south coast.
An extensive drilling program has been completed defining four new graphite targets from the first of seven potential anomalies identified by aeromagnetic survey. These are located very close to the existing mineral resource. Extensive areas are yet to be investigated and the company is confident that additional reserves will be discovered in the future.
Metallurgical testing has shown that the Springdale resource is well-suited to battery anode material production and would support a long-lived shallow open-pit mining operation.
Completion of the extensive 2022-2023 drilling campaign has paved the way for an increased mineral resource estimate that hailed the Springdale Graphite project as the second largest known graphite deposit in Australia. Total Springdale mineral resource estimate has been expanded from 15.3 Mt @ 6 percent total graphitic carbon (TGC) to 49.3 Mt @ 6.5 percent TGC.
Project Highlights:
- Prime Location: Located in a world-class mining hub with established services and infrastructure. Notable operations in the area include First Quantum Minerals' (TSX:FM) Ravensthorpe Nickel Mine, and Galaxy Resources' (ASX:GXY) Mt Cattlin Lithium Mine.
- Promising Geology: The project is located on cleared agricultural land and within the Albany Frazer Belt, one of Australia's foremost exploration regions.
- Existing Resource: An inferred mineral estimate puts the Springdale Resource at 15.6 million tons of graphite at 6 percent total graphitic carbon content (TGC), including a high-grade inferred mineral resource of 2.6 million tons at 17.5 percent TGC.
- Excellent Drilling Results: A strong 2022-2023 drilling campaign paved the way for a new mineral resource estimate making the Springdale Graphite Project the second-largest known graphite deposit in Australia. The company has completed 20,466 meters of drilling since June 2022, building on 7,900 meters of prior drilling. Results include four new graphite discoveries and confirmation of high-grade domains in the existing resource model and block performance.
- Sustainable Mining: Mining will involve multiple shallow open pits, targeting weathered/oxide mineralization zones. The operation will primarily comprise free digging with limited drilling and blasting.
- High-quality Mineralisation: Metallurgical analysis has shown that a 95 percent graphite concentrate can be made from Springdale and can be upgraded to battery grade 99.95 percent through purification.
- Downstream Processing: Graphite concentrates produced at Springdale will be transported 450 kilometres by road to Collie, where International Graphite plans to construct a graphite micronising facility and an advanced battery anode material manufacturing plant. A pilot micronising plant – one of the most advanced of its kind in Australia – was commissioned in 2022.Collie Downstream Processing
Collie Downstream Processing
International Graphite’s multifaceted processing operation will incorporate state-of-the-art research and development facilities with separate operations for graphite micronising and battery anode material production.
A pilot scale graphite micronising and spheroidising equipment commissioned in 2022 has since been upgraded to a larger, qualification scale plant which will launch the International Graphite brand in world markets and provide product samples for customer testing and qualification.
A definitive feasibility study has been completed for the establishment of a commercial scale micronising operation at Collie with a nominal capacity of 4,000 tpa. Besides being a product in its own right, micronised graphite is also a by-product in the manufacture of battery anode material. The micronising plant is expected to be operational before the end of 2024 and will use imported graphite concentrate feed until the Company’s Springdale mine and concentrator comes online creating a fully integrated circuit.
This approach is strategically timed to generate early cashflow for the business, as well as establishing early markets.
An initial scoping study has also been released for the establishment of a second manufacturing operation that will produce coated and uncoated purified, spheroidised graphite for lithium-ion battery anodes. Land has been earmarked at Collie with construction expected to commence in 2026.
Located at the southern end of Western Australia's main industrial strip, the town of Collie has many strategic advantages for industry. The Western Australian Government has committed an unprecedented AU$650 million to support regional economic growth and to advance the region as a hub for critical mineral processing and renewable energy.
Highlights:
- Emerging battery and renewable energy hub:
- Collie is the centre of Western Australia’s electricity generation infrastructure transitioning from coal
- strong investment in renewables ensures ready access to “green” power
- skilled technical workforce and training facilities
- efficient transport with extensive road and rail infrastructure
- strong community and government support for International Graphite
- Established R&D Facilities:
- first premises and R&D hub established in Collie light industrial area
- pilot scale micronising and spheroidising plant successfully commissioned in 2022
- micronising qualification-scale equipment installed to support product testing, customer agreements and market acceptance
- Australia’s first high thermal graphite furnace on site – supporting the development of graphite purification processes
- Graphite Micronising Facility:
- definitive feasibility study completed for a 4kt/y micronising plant – one of the first of its kind in Australia
- micronised products will generate cashflow, introduce the IG brand and establish markets for future by-products from battery anode material production
- plant expected to be operational before the end of 2024
- Battery Anode Material (BAM) Facility:
- site for the future BAM plant selected at Collie.
- scoping study released with economic modeling showing strong business case
- proposed facilities capable of processing up to 40kt/y of graphite concentrates to produce uncoated and coated purified/spheroidising/coated graphite suitable for BAM
Key Management Personnel
Phil Hearse - Chairman
One of Australia’s leading metallurgists and an authority on graphite project development, Phil Hearse founded International Graphite in 2018 and continues to lead the company’s growth and development. An engineer with more than 40 years of experience in diverse and challenging projects around the world, his extensive career has taken him from operational and technical roles at Broken Hill, Bougainville Copper, Queensland Nickel (QNI) and Gove Alumina to senior executive and managerial positions in engineering and operating companies.
Hearse is the owner and managing director of Battery Limits, one of Australia’s leading graphite metallurgy and process engineering firms. The company has assisted many listed public companies to develop bankable feasibility studies for graphite mines and concentrators and has generated significant intellectual property in downstream processing and knowledge of the end use market. Hearse has an MBA from Hull University UK and a Bachelor of Applied Science in primary metallurgy from the University of SA. He is a fellow of the Australasian Institute of Mining and Metallurgy and a fellow of the Australasian Institute of Mining and Metallurgy.
Andrew Worland - Managing Director and Chief Executive Officer
Andrew Worland is a mining executive and experienced ASX/TSX director with over 25 years in senior finance, corporate, project management and marketing roles in the Western Australian mining sector.
Worland's commodity experience includes exploration, development and operations in lead, zinc, nickel, cobalt, gold, iron ore, molybdenum, copper and uranium. He has a Bachelor of Commerce with a major in finance and marketing from the University of Western Australia and is a qualified chartered company secretary and fellow of the Governance Institute of Australia.
David Pass - Non-executive Director & Chief Technical Officer
David Pass has played a key role in the technical development of International Graphite since the company’s inception. A metallurgist with 30 years in the mining industry, he brings a mix of operational processing, process design, project, due diligence skills and management experience including mine operations experience with Barrick Gold.
Pass is chief executive officer of Battery Limits and an acknowledged expert in graphite primary and downstream processing and has led several studies in graphite project development to definitive feasibility level. He holds a Bachelor of Science in metallurgy from Murdoch University and is a member of the Australian Institute of Mining and Metallurgy.
Matthew O’Kane - Non-executive Director
Matthew O’Kane is a senior mineral industry executive and company director with 25 years’ experience in the mining, commodities, and automotive sectors. He has held senior leadership roles in Australia, the US and Asia, in both developed and emerging markets, from start-up companies through to MNC’s. He has served on the board of mining companies in Canada, Hong Kong and Australia, and is currently managing director of Comet Resources (ASX:CRL) and a non-executive director of Azarga Uranium (TSX:AZZ) and Pursuit Minerals (ASX:PUR). O’Kane has been a non-executive director of International Graphite since the company was listed in April 2022.
Robert Hodby – Chief Financial Officer and Company Secretary
Robert Hodby is a finance and accounting specialist with more than 20 years’ experience in the Australian resource and energy sector, including seven years as CFO and company secretary of Kibaran Resources(ASX:KNL), the predecessor to Australian graphite company EcoGraf (ASX:EGR). A member of CPA Australia and member of the Governance Institute of Australia, Hodby specialises in the financial management and administration of public and listed companies at both operational and corporate levels. During his career, he has held numerous executive and project management positions as well as CFO, board and company secretarial roles, with a strong track record in corporate finance, capital raising and international product marketing, particularly in the emerging graphite market.Altech – Results of Share Purchase Plan
Altech Batteries Limited (Altech/the Company) (ASX: ATC) provides the following update regarding its Share Purchase Plan (SPP) as announced on 17 April 2024.
Highlights
- Share Purchase Plan (SPP) closed 15 May 2024
- Proceeds received of $3,721,000
- Shares and options will be issued 22 May 2024
- Quotation of shares on ASX 22 May 2024
The Company received applications from eligible shareholders amounting to proceeds received of $3,721,000. This represents 57,246,037 shares at $0.065 per share and 28,622,799 free-attaching options with an exercise price of $0.08 per share and expiring 30 April 2026.
The shares and options will be issued and allotted on 21 May 2024 and application for quotation of shares on the ASX will be made on 21 May 2024.
Altech’s CEO and MD Iggy Tan stated“On behalf of the Board of Directors, I wish to thank all eligible shareholders that participated in the SPP and for the support extended to Altech as it moves forward with both its CERENERGY® battery project as well as Silumina AnodesTM battery materials project. The SPP was very well received and supported. I am also cognisant of the market’s expectation in relation to the fabrication of the two 60KWh CERENERGY® battery prototypes as well as the commissioning of the Silumina AnodesTM pilot plant, and funds received from the SPP will be applied towards this. With the positive Definitive Feasibility Study and excellent economics for the 120MWh CERENERGY® battery project having been recently released in March 2024, Altech is also focused on securing offtake as well as finance to commence plant construction”.
Click here for the full ASX Release
This article includes content from Altech Batteries, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
5 Top Weekly TSXV Stocks: Lomiko Metals Surges 133 Percent on Government Investment
The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 19.22 points last week to close at 615.17.
Markets rose this past week as silver breached the US$30 per ounce mark for the first time in more than 10 years on Friday (May 17). Gold was also on the move, rising as high as US$2,418.04 per ounce the same day. Meanwhile, copper prices surged above US$10,000 per metric ton (MT) on Monday (May 13) on the London Metal Exchange.
The latest US consumer price index data was released on Wednesday (May 15), and it shows that inflation was up 3.4 percent year-on-year in April, lower than readings seen earlier in the year. It rose 0.3 percent month-on-month.
In other economic news, the Conference Board released its leading economic index (LEI) on Friday. The think tank said the LEI decreased by 0.6 percent in April, which was a steeper decline than the 0.3 percent decrease seen in March.
In its assessment of the health of the US economy, the organization said the data indicates a recession is no longer likely, but that challenges exist and will continue to weigh on the economy in 2024.
In the resource sector, the Canadian and US governments announced on Thursday (May 16) that they will be making the first investments as part of the Canada-US Energy Transformation Task Force, whose aim is to support the development of critical minerals projects. Fortune Minerals (TSX:FT,OTCQB:FTMDF) will receive a C$7.5 million investment from the Canadian government to develop its NICO cobalt-gold-bismuth-copper project in the Northwest Territories, as well as an injection of US$6.4 million from the US government’s Defense Production Act Investments Office.
The other company to receive funding is Lomiko Metals (TSXV:LMR,OTCQB:LMRMF), which is the top stock on the list below. Read on to learn details about the funding it received and about this week's other top gainers on the TSXV.
1. Lomiko Metals (TSXV:LMR)
Weekly gain: 133.33 percent; market cap: C$10.02 million; current share price: C$0.035
Lomiko Metals is an exploration and development company working to advance two battery materials projects in Québec, Canada, to production. Its La Loutre asset is a flake graphite project located in the Laurentides administrative region, 30 kilometers southwest of Montreal. A May 2023 technical report outlines an indicated resource of 64.7 million MT grading 4.59 percent graphitic carbon, with an inferred resource of 17.45 million MT grading 3.72 percent graphitic carbon.
The company also holds a 49 percent stake in Critical Elements’ (TSXV:CRE,OTCQX:CRECF) Bourier lithium project, with the opportunity to earn an additional 21 percent. The site is located northeast of Duval, Québec, and consists of 203 mining claims over 102.6 square kilometers. The project is currently in the early phases of soil and surface sampling.
Shares of Lomiko surged this past week following Thursday's news that it has received US$8.35 million in funding from the US Department of Defense as part of the Defense Production Act and the Inflation Reduction Act for energy security in North America. The company received an additional grant of C$4.9 million from the Critical Mineral Research, Development and Demonstration program administered by Natural Resources Canada. The money will be used for a pilot program to upgrade flake graphite from the La Loutre project into battery-grade anode material.
2. Copper Fox Metals (TSXV:CUU)
Weekly gain: 126.19 percent; market cap: C$363.15 million; current share price: C$0.48
Copper Fox Metals is an exploration and development company with assets located in the US and Canada. Copper Fox’s primary projects include the Schaft Creek joint venture, and its wholly owned Van Dyke and Eaglehead projects.
The Van Dyke copper oxide property is located within the Globe-Miami copper district of Arizona. According to a December 2020 preliminary economic assessment, the brownfield project is projected to produce about 1.1 billion pounds of copper over a 17 year mine life. Initial capital costs are set at US$290.5 million.
The Eaglehead copper porphyry project is near Dease Lake, BC, and hosts four open-ended porphyry deposits. An October 2023 resource estimate outlines an indicated resource of 345 million pounds of copper and 16.9 million pounds of molybdenum, as well as an inferred resource of 1.3 billion pounds of copper and 1 billion pounds of molybdenum.
The company also operates and holds a 25 percent stake in the Schaft Creek copper porphyry joint venture near Eaglehead, with the remainder being held by Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK).
Shares of Copper Fox saw substantial gains last week; however, in a press release on Tuesday (May 14), the company noted it was unaware of any material change that would account for the increased market activity.
The jump did come alongside the surging price of copper.
3. Desert Mountain Energy (TSXV:DME)
Weekly gain: 61.54 percent; market cap: C$28.88 million; current share price: C$0.42
Desert Mountain Energy is an exploration, development and production company focused on advancing helium, hydrogen and natural gas assets in New Mexico and Arizona, US.
Its operations in West Pecos consist of the West Pecos gas field, which hosts 188 wells across 77,000 acres of oil and gas leases and has expansion potential of up to 100 additional wells. The site is also home to a helium processing facility that is capable of producing various grades of helium. The company is working to construct a 60,000 gallon accumulation tank that, when finished, will allow it to process natural gas, condensate and helium. Desert Mountain also owns the Holbrook helium project in Arizona’s Holbrook basin. It is comprised of over 1 million acres of helium prospects and is situated in a region that has historic production of 9.23 billion cubic feet of helium with grades between 8 and 10 percent.
Shares of Desert Mountain saw gains this past week after it signed new terms for its strategic partnership with Beam Earth to commence hydrogen exploration in Arizona during Q4 of this year. Under the terms of the Thursday deal, Beam Earth will make a US$225,000 payment to Desert Mountain and will fund the drilling programs, pilot well and engineering for a white hydrogen/helium plant, as well as the planning for a green hydrogen plant in Arizona.
Desert Mountain will retain ownership rights for its wells in New Mexico and Arizona, and will jointly share profits from new hydrogen and helium wells in Arizona.
4. Surge Copper (TSXV:SURG)
Weekly gain: 57.14 percent; market cap: C$41.2 million; current share price: C$0.22
Surge Copper is a copper exploration company working to advance its Berg and Ootsa projects in BC.
In a June 2023 preliminary economic assessment for Berg, which hosts deposits with copper, molybdenum, silver and gold, the company reported a net present value of C$2.1 billion with an internal rate of return of 20 percent. The property has the potential for a 30 year mine life with total payable production of 5.8 billion pounds of copper equivalent.
Meanwhile, the 72,710 hectare Ootsa property is host to three advanced-stage copper, gold, molybdenum and silver porphyry deposits. A June 2022 combined mineral resource estimate for the site’s Seel and Ox deposits outlines measured and indicated resources of 1.7 billion pounds of copper, 167 million pounds of molybdenum, 1.6 million ounces of gold and 29.5 million ounces of silver.
The company did not report any news last week, but trended upward alongside surging copper prices.
5. East Africa Metals (TSXV:EAM)
Weekly gain: 54.55 percent; market cap: C$31.56 million; current share price: C$0.17
East Africa Metals is a gold exploration company focused on operations in Ethiopia.
Its principal asset is the Adyabo property, in which the company holds a 30 percent net profit interest, with Tibet Huayu Mining (SHA:601020) owning the remaining 70 percent. The 195.2 square kilometer site hosts two mining licenses located in an area known for high-grade gold and copper mineralization.
The company also owns a 70 percent share of the Harvest polymetallic project in the Tigray region of Ethiopia, as well as a 30 percent streaming interest in the Magambazi gold mine in the Tanga region of Tanzania.
Shares of East Africa saw gains following an announcement on May 10 that Tibet Huayu will be moving forward with mine development activities for the Mato Bula and Da Tambuk mines at the Adyabo property, with construction of roadworks to begin before the end of May.
FAQs for TSXV stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, while the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many companies are listed on the TSXV?
As of September 2023, there were 1,713 companies listed on the TSXV, 953 of which were mining companies. Comparatively, the TSX was home to 1,789 companies, with 190 of those being mining companies.
Together the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.
Data for this 5 Top Weekly TSXV Performers article was retrieved at 1:00 p.m. PST on May 17, 2024, using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals were considered.
Article by Dean Belder; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Fortune Minerals is a client of the Investing News Network. This article is not paid-for content.
East Coast Research Altech Valuation Inches Higher as Analyst Firm adds CERENERGY to Model
Description
Australian analyst firm East Coast Research has updated its valuation for Altech Batteries (ASX:ATC,FRA:A3Y) to a slightly higher range, as it added Altech’s CERENERGY batteries project to its model.
In the initiation report from February 15, 2024, the company was valued at AU$0.15 per share in the base case and AU$0.21 per share in the bull case, based solely on the DCF valuation of Altech's Silumina AnodesTM Project. The addition of CERENERGY to the valuation model upgraded the valuation to range from AU$0.16 per share in the base case to AU$0.22 per share in the bull case.
“The observed marginal impact on our per-share target valuation range stems largely from Altech's ownership stake in the CERENERGY project being [75] percent and the fact that Fraunhofer's 25 percent stake in the project is free-carried, thus not contributing to project development costs. Our DCF model is broadly based on the assumptions of Silumina Anodes DFS and CERENERGY Battery DFS results and net of minority interests in both projects,” the East Coast Research Report stated.
Pilot manufacturing plant Fraunhofer Hermsdorf
The key risks to the investment thesis, the report noted, include uptake, competition, exchange rate and funding risks.
Highlights of the report include:
- Altech Batteries has completed a definitive feasibility study for its CERENERGY Batteries Project, revealing robust project economics and a pre-tax net present value (NPV9) of €169 million.
- The company is actively engaged in the funding process for the CERENERGY Battery plant, with favorable prospects due to the project's alignment with Europe's commitment to renewable energy transition.
- Altech has signed non-disclosure agreements with major utility conglomerates in Germany, indicating strong interest in its CERENERGY 1 MWh GridPack batteries.
For the full analyst report, click here.
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E-Power Resources Inc. Announces Closing of a Second Tranche of Private Placement
E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") announces that it has closed the second tranche of the private placement previously announced on February 26, 2024 (the "Private Placement").
An aggregate of 1,849,114 units (the " Units") of the Company were issued in the Private Placement at a price of $0.07 per Unit for gross proceeds of $129,438, each Unit being comprised of one common share in the capital of the Company (each a "Common Share") and one-half common share purchase warrant (each a "Warrant"), each Warrant entitling its holder thereof to acquire one additional common share (each a "Warrant Share") at a price of $0.15 per Warrant Share for a period of 60 months from the closing date. (the "Offering")
Net proceeds from the Offering will be used by the Company for general working capital purposes. Two insiders of the Company participated in the Private Placement.
No finder's fees were paid in connection to this tranche.
The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. The securities offered pursuant to the Offering are subject to certain trade restrictions pursuant to applicable securities laws.
About E-Power Resources Inc.
E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec. Its flagship asset, the Tetepisca Graphite Property, is located in the Tetepisca Graphite District of the North Shore Region of Quebec, approximately 215 kilometers from the Port of Baie-Comeau. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by email at info@e-powerresources.com.
On Behalf of the Company
James Cross
President & CEO
+1 (438) 701-3736
info@e-powerresources.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are "forward-looking statements". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The CSE has not reviewed, approved, or disapproved the contents of this news release.
Click here to connect with E-Power Resources Inc. (CSE: EPR),to receive an Investor Presentation
How to Invest in Graphite (Updated 2024)
Graphite has swung into focus in recent years, largely due to its key role in electric vehicle (EV) batteries.
Concerns about China's supply stranglehold and anticipated demand from lithium-ion battery megafactories have sparked investor interest, and experts believe graphite will be a key EV battery material for at least the next decade.
Today, each EV battery contains between 40 and 60 kilograms of graphite material. Putting the market's anticipated growth into perspective, Benchmark Mineral Intelligence data shows that demand for graphite from the battery sector is expected to grow by 250 percent between 2023 and 2030. Benchmark analysts see a potential supply deficit looming if graphite companies do not expand their operations.
For its part, Fastmarkets sees a strong long-term outlook for graphite as the North American and European markets seek to set up secure supplies of the material outside of China, especially graphite obtained via environmentally friendly production and processing methods."We expect to see this combination of factors increase the underlying natural graphite cost base, contributing to higher prices," states the firm in an industry update.
To help investors get a better understanding of the graphite space, here's a brief overview of what graphite is, what’s going on in the market today and what the future could bring. Read on for insight on these topics and more.
What is graphite?
Graphite has a layered, planar structure, with carbon atoms arranged in a honeycomb lattice. It’s thermally stable and can conduct electricity, but is also valued for its self-lubricating and dry-lubricating properties.
Flake, amorphous and vein are the three main types of graphite; all are important for different industries, but flake graphite is currently getting the most buzz.
Flake graphite has become especially important since early 2014, when Tesla's (NASDAQ:TSLA) Elon Musk announced that his company would be building its first lithium-ion battery gigafactory in Nevada, US. Graphite is used in lithium-ion battery anodes, and the news from the major EV maker immediately sparked predictions about how much of the mineral the gigafactory might require. Lithium-ion batteries are used to power EVs and for energy storage.
Aside from batteries, flake graphite can be used in pebble-bed nuclear reactors, as well as in the refractory and steel industries, fuel cells and vanadium-redox batteries. Amorphous graphite is used in the refractory industry as well, and in mechanisms such as brake linings, gaskets and clutch materials. Vein graphite finds a home in advanced, thermal and high-friction applications.
Click here for more information on the types of graphite.
What factors impact graphite supply and demand?
As mentioned, flake graphite has seen attention as graphite market participants try to guess how much impact facilities like Tesla’s gigafactory — and other lithium-ion battery megafactories — will have on graphite demand.
While it’s tough to pinpoint how much graphite those megafactories will require (and when), it’s safe to say that they will need a lot. Benchmark is just one firm that has written extensively about the topic.
For now, much of that demand has yet to materialize. Many companies that rushed into the graphite space have not yet secured offtake agreements for the material they plan to produce. As a result, some are stalled in the exploration and development phases; it will be difficult for them to move forward until end users start locking down supply.
In the years ahead, Fastmarkets expects to see demand growth for natural graphite coming from markets outside of China as automakers strive to meet customer expectations for products made with the highest ESG standards. That leaves out synthetic graphite produced in China with the aid of petroleum and coal industry by-products.
"We expect to see premium pricing structures emerge in ex-China markets to reflect higher costs associated with ESG friendly supply, but also to encourage the much-needed investment in the sector to prompt the development of localized and diversified supply," the firm's analysts said in a report published in mid-2023. "Without additional investment, the market will fall into a significant deficit beyond 2030."
For now, in terms of graphite supply, the majority comes from China. The Asian nation produced 1,230,000 metric tons of graphite in 2023, which is four times greater than that of the next five top graphite-producing countries combined. That said, in recent years there have been concerns about the security of Chinese graphite supply, as regulations to lower pollution have caused cutbacks in the nation's output.
The upshot is that graphite demand appears set to rise with no guarantees that producers will be able to keep up. Prices remain subdued, but may rise as buyers become more concerned about impending megafactory demand.
Click for more information on graphite supply and demand from the EV space.
How is graphite priced?
Speaking of prices, how much does graphite cost? Unfortunately, it can be difficult to get exact figures. Unlike gold, silver and other commodities, graphite is not traded on an exchange. Instead, graphite miners will typically set up offtake agreements under which end users agree to buy a specific amount of graphite over a particular period of time.
That setup comes with a variety of issues for graphite companies and market participants, but for many investors the key concern is that they can feel like they’re operating blind. After all, it’s hard to get an idea of whether a company is putting out good results without having an idea of how much it will be able to sell its product for.
Luckily, some industry experts are looking to increase transparency in the graphite sector. Benchmark is one firm that provides accurate and up-to-date information on pricing for both natural graphite and synthetic graphite. Fastmarkets also provides price data for graphite and a number of other important battery metals.
Click here for more information on current graphite pricing.
How to invest in graphite?
While the graphite market is compelling, it can be tricky for investors to gain a toehold in the space.
As noted, graphite is not traded on an exchange, meaning that investors can’t get exposure to the physical material. What’s more, it isn’t easy to invest in graphite-mining companies — most of the largest graphite producers are in China, and in many cases are privately owned or only listed on Asian exchanges.
For that reason, many investors choose to invest in graphite exploration and development companies. While some have struggled to move forward for the reasons discussed above, there are still plenty that have good projects and are making progress. To help investors who are looking at graphite, the Investing News Network has put together a list of the top graphite companies on the TSXV and TSX with year-to-date gains, as well as biggest ASX graphite stocks.
This is an updated version of an article originally published by the Investing News Network in 2015.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Altech - Extension to Share Purchase Plan Closing Date
Altech Batteries Limited (Altech/the Company) (ASX: ATC) provides the following update regarding its $5 million Share Purchase Plan (SPP) as announced on 17 April 2024.
Highlights
- Revised closing date for the Share Purchase Plan (SPP) of 15 May 2024
- Eligible shareholders wishing to participate in the SPP must provide payment by 15 May 2024
- Payment details can be found on the personalised Application Form provided to shareholders
The Company has received feedback from several shareholders requesting additional time to participate, and the Board has decided to extend the SPP offer date by one (1) week. By doing so, this will ensure that all shareholders have sufficient time to participate. The revised timetable for completion of the SPP is as follows, with the revised dates highlighted in blue*:
* The above dates are indicative only and may change without prior notice. Any change in the timetable does not affect any rights or obligations you have as a result of accepting the SPP.
** Subscribers under the Offer should ensure that they have lodged their Application Form by this date.
Click here for the full ASX Release
This article includes content from Altech Batteries, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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