The Conversation (0)
May 08, 2023
QGL Becomes Full Participant in Grid Connected Energy Storage Market
The Company is pleased to announce that its joint venture with Sunlands Co., Quantum Sunlands Partnership, has acquired the original equipment manufacture rights (OEM) for Sunlands Co.’s TES Graphite Cells. The name of the joint venture company will be changed to Sunlands Power, recognising its critical role in the delivery of the LDES technology to the market.
Highlights
- Change of name of joint venture (Quantum Sunlands Partnership) to Sunlands Power
- Sunlands Power acquires full OEM rights to manufacture Sunlands Co.’s LDES TES Graphite Cells
- OEM rights extend to TES Graphite Cells made from non-QGL supplied flake graphite
- Agreement effective 1 July 2023
The OEM rights are in addition to those previously granted to Sunlands Power to manufacture the Uley 2 flake graphite-based energy storage media. With the acquisition of the OEM rights, Sunlands Power is now positioned as a strategic full participant in the global LDES market.
Sunlands Power will be directly responsible for the manufacture and delivery to Sunlands Co. of the complete TES Graphite Cell facility. Included within this facility will be all the associated plant and equipment required for the connection to conventional thermal power plants (i.e., steam turbine generator packages). Importantly the OEM rights are not limited to or dependent on the flake graphite being sourced from the Company.
The Company's financial returns from Sunlands Power will be a significant addition to the returns delivered from its Uley 2 Project. Based upon the current market prices for graphite energy storage media and LDES facilities, the combined manufacture and sale of the flake storage media and the TES Graphite Cell facilities will generate revenues far in excess of those derived from the sale of Uley 2 flake to Sunlands Power. The Company will provide further information on the expected financial returns from its Sunlands Power interest upon the completion of the TES Graphite Cell pilot plant.
The capital to establish Sunlands Power's operations will be included within the sustainably linked bond financing currently being progressed by the parties. The Company and Sunlands Co. expect that Sunlands Power will deliver a return to them within the first year of achieving its minimum production capacity of 0.5GW of TES Graphite Cells per annum. This level of LDES requires a minimum 50,000 tonnes of Uley flake graphite based media.
Quantum Graphite director, Michael Wyer, commented that, "our initial arrangement with Sunlands Co. established the exclusive working relationship between the parties. The critical supply of the flake graphite-based energy storage media was the key step in building an end to end supply chain. The grant of OEM rights to Sunlands Power now underpins the Company's participation in the biggest market associated with the grid connected energy markets".
Key Target Market - Retrofitting of Coal Fired Power Stations
The Sunlands Power TES Graphite Cells are ideally suited to the retrofitting of coal fire power stations. Storing energy from renewables in the form of heat, TES Graphite Cells can retain this heat for weeks at a time and deliver this heat to pre-existing coal boilers to generate steam.
Essential to the generation of electricity from these power stations’ conventional turbine generators is the production of efficient high temperature steam. TES Graphite Cells’ high operating temperatures ensure the reliable, consistent production of high temperature steam to drive the type of utility scale turbines found at large grid scale coal fired power stations.
Deployment of TES Graphite Cells within existing coal fired power stations and their charging from renewables results in the direct reduction of CO2 emissions. In a typical 500MW (bitumus) coal fired thermal power plant, TES Graphite Cells can eliminate more than 3,000,000 tonnes of CO2 emissions per annum.
Cost Competitive Advantages of TES as Preferred Decarbonisation Solution
The Long Duration Energy Storage Council1 has stated that TES is a cost competitive decarbonisation solution today. It acknowledges that TES based LDES solutions are a more cost efficient (steam based) decarbonisation and electrification solution than carbon capture and storage (at existing coal fired power stations) or replacing gas with hydrogen or biomass.
Click here for the full ASX Release
This article includes content from Quantum 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.
22 August
Top 5 Canadian Mining Stocks This Week: StrategX Jumps 64 Percent on Fundraising
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
Statistics Canada released July’s consumer price index (CPI) data on Tuesday (August 19). The figures show that inflation decelerated that month, posting a 1.7 percent year-on-year gain, down from the 1.9 percent recorded in June.
The most significant contributor to the fall was a 16.1 percent decline in gasoline prices from the same period last year.
Excluding the lower costs at the pumps, CPI remained steady at 2.5 percent, the same increase as May and June.
The national reporting agency released June’s mineral production survey on Wednesday (August 20).
The data indicates that production and shipments increased across the board, with copper production rising to 39.17 million kilograms, gold rising to 16,935 kilograms and silver increasing to 29,081 kilograms.
For shipments, copper increased to 45.96 million kilograms from 34.38 million kilograms, gold shipments rose to 18,554 kilograms from 16,725 kilograms, and silver jumped to 31,391 kilograms from 27,614 kilograms.
On Thursday (August 21), Canadian Prime Minister Mark Carney had a phone call with US President Donald Trump. Although the prime minister's office has provided few details, the two leaders reportedly had a “productive and wide-ranging conversation” about the current trade dispute, as well as economic and security relations.
Carney and Trump are expected to speak again soon.
South of the border, US Federal Reserve Chair Jerome Powell gave his speech at the Jackson Hole Economic Policy Symposium on Friday (August 22). In his remarks, he said that the Fed's dual mandate goal is in balance, with the labor market remaining near maximum employment, while inflation has eased from post-pandemic highs.
However, he also said that “a shifting balance of risks may warrant adjusting our policy stance,” hinting at a near-term cut to the Fed’s benchmark interest rate. Expectations are high for a 25 basis point cut in September.
Markets and commodities react
Canadian equity markets were positive this week. The S&P/TSX Composite Index (INDEXTSI:OSPTX) was in record territory, closing the week up 1.44 percent to set at another all-time high of 28,333.13. The S&P/TSX Venture Composite Index (INDEXTSI:JX) did even better, climbing 2.45 percent to finish Friday at 803.61. The CSE Composite Index (CSE:CSECOMP) slumped mid-week, but recovered on Friday to post a slight gain of 0.48 percent to 158.82.
US equity markets were mixed this week, but strong gains on Friday following Powell’s comments kept them in record-high territory. The S&P 500 (INDEXSP:INX) was up 1.52 percent on Friday, but down by 0.16 percent over the past five days to 6,466.92, while the Nasdaq 100 (INDEXNASDAQ:NDX) rose 1.51 percent on Friday, but sank 1.33 percent on the week to 23,497.83 on Wednesday. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) was the sole weekly gainer, rising 1.89 percent on Friday and 1.04 percent on the week to post a new record high of 45,631.73.
The gold price was largely flat this week, but also surged on Friday after Powell hinted at a near-term rate cut, rising 1.11 percent on the week to hit US$3,373.21 per ounce by 4:00 p.m. EDT on Friday.
Silver saw similar movements, but ended the week with a larger gain of 2.62 percent to US$38.90 per ounce.
Copper saw little change again this week, posting a 0.22 percent decrease to US$4.52 per pound. The S&P GSCI (INDEXSP:SPGSCI) commodities index posted an increase of 1.92 percent by close on Friday, finishing at 545.11.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. StrategX Elements (CSE:STGX)
Weekly gain: 63.64 percent
Market cap: C$11.57 million
Share price: C$0.18
StrategX Elements is advancing a portfolio of projects in the Northwest Territories and Nunavut, Canada.
Its most recent focus has been its Nagvaak project in Nunavut, which hosts a 6 kilometer mineralized zone with deposits of nickel, vanadium, cobalt, copper, silver and platinum-group metals.
On March 3, the company discovered a wide zone of high-grade graphite mineralization at Nagvaak, with one assay returning an average of 15 percent graphitic carbon over 32 meters, including an intersection of 22 percent graphitic carbon over 17 meters. StrategX said the hole also returned encouraging concentrations of other minerals, including nickel, copper and silver, supporting potential for a multi-mineral system.
The most recent news from the project came on July 30, when the company announced it was in the process of mobilizing for a 2025 drill program intended to delineate and validate the discoveries.
On Tuesday, the company completed a non-brokered private placement for 3.71 million shares, raising gross proceeds of C$296,960. It announced the placement on August 7 and said the funds would be used for general working capital.
2. Max Resource (TSXV:MAX)
Weekly gain: 62.5 percent
Market cap: C$12.59 million
Share price: C$0.065
Max Resource is an explorer working to advance a portfolio of projects in Colombia.
The company's Sierra Azul property is a district-scale copper and silver project consisting of 20 mining concessions covering an area of 188 square kilometers in Northeastern Colombia.
The asset is covered by a May 2024 earn-in agreement with Freeport-McMoRan (NYSE:FCX), in which Freeport can receive up to an 80 percent stake by funding of C$50 million over 10 years. The site hosts multiple target areas with high-grade copper and silver mineralization, including a 20 kilometer red-bed-style copper system at the AM district.
Max also owns the Florália hematite direct-shipping ore iron project, located in the Minas Gerais region. The company completed the acquisition of the property in October 2024 from Jaguar Mining (TSX:JAG,OTCQX:JAGGF) for total cash consideration of US$1 million and 4 million performance share units, contingent upon reaching certain milestones. The site hosts hematite deposits with grades of over 60 percent iron. Max intends to use a direct-shipping ore process to mine, crush and screen the ore before exporting the material directly to steel mills.
The company’s most recent announcement came this past Tuesday, when it secured the right to acquire the Mora title, which lies adjacent to Aris Mining's (TSX:ARIS,NYSEAMERICAN:ARMN) Marmato mine. The property hosts 40 historic workings with five active mines, with reserves with grades of 3.2 grams per metric ton (g/t) gold from 31.3 million metric tons and a resource of 9 million ounces of gold grading 3 g/t from 61.5 million metric tons.
3. Maple Gold Mines (TSXV:MGM)
Weekly gain: 50 percent
Market cap: C$45.6 million
Share price: C$0.105
Maple Gold Mines is a gold exploration company focused on the advancement of its Douay and Joutel projects, located in the Abitibi greenstone belt in Québec, Canada.
The Douay project covers an area of 357 square kilometers. In a 2022 technical report, the company said the site hosts an indicated resource of 511,000 ounces of gold from 10 million metric tons with an average grade of 1.59 g/t gold; it has an additional inferred resource of 2.53 million ounces from 76.7 million metric tons at 1.02 g/t.
Joutel is located directly south of Douay. The company announced on May 5 that it had staked an additional 128 mining claims, bringing the total land area at the property to 111 square kilometers from the original 39. The site hosts Agnico Eagle Mines' (TSX:AEM,NYSE:AEM) past-producing Eagle-Telbel gold mine, which operated from 1974 to 1993. To date, the company has used 250,000 meters of historic drill results to create 3D models to aid in current exploration efforts.
The most recent news from Maple came on Wednesday, when it announced a C$5 million non-brokered private placement led by strategic investor Michael Gentile. Additionally, the company reported that Agnico Eagle has indicated it intends to participate in the offering to maintain its pro rata ownership interest in Maple Gold.
The release also states that Marc Legault and Chris Adams have been appointed to the board of directors.
4. Capitan Silver (TSXV:CAPT)
Weekly gain: 40.45 percent
Market cap: C$113.2 million
Share price: C$1.25
Capitan Silver is an explorer focused on advancing silver and gold projects in Durango, Mexico.
The company’s flagship asset is the 100 percent owned Cruz de Plata project in the heart of Mexico’s historic Penoles Mining District. The region is known for hosting significant silver mineralization and historic mining.
The Cruz de Plata project encompasses two historic silver mines — Jesus Maria and San Rafael — and the El Capitan oxide gold prospect, all within a 22.9 square kilometer land package.
To date, the company has completed 86 diamond drill holes totaling over 11,550 meters.
A 2020 technical report demonstrates an inferred resource of 16.99 million ounces of contained silver and 331,000 ounces of contained gold from 28.3 million metric tons of ore with grades of 18.7 g/t silver and 0.36 g/t gold.
The most recent news from Capitan came on Friday, when it announced it has executed a definitive agreement to acquire a strategic land package at its Cruz de Plata property from Fresnillo (LSE:FRES,OTC Pink:FNLPF) for total cash consideration of US$4 million. The transaction was initially announced in June.
The new parcel consists of seven mineral concessions covering 2,171.4 hectares. It increases Capitan's total holdings in the area by 85 percent and the surface expression of the silver and gold trend by 1.2 kilometers to the east.
5. District Metals (TSXV:DMX)
Weekly gain: 36.9 percent
Market cap: C$163.98 million
Share price: C$1.15
District Metals is a uranium exploration company focused on advancing a portfolio of assets in Sweden.
Its flagship Viken property covers an area of 38,657 hectares in Jämtland County, and in addition to uranium hosts mineral deposits of vanadium, molybdenum, nickel, copper and zinc.
On June 13, District filed a technical report for the project’s updated resource estimate. It shows an indicated resource of 176 million pounds of U3O8 from 456 million metric tons of ore with a grade of 175 parts per million (ppm) U3O8 and an inferred resource of 1.54 billion pounds of U3O8 from 4.3 billion metric tons with a grade of 161 ppm.
The company has also been advancing its Tomtebo-Stollberg zinc project in South-Central Sweden. The project is part of an October 2023 definitive agreement in which Boliden (STO:BOL) can earn an 85 percent interest in the property by spending C$10 million over four years and District can earn a 15 percent stake in Boliden’s Stollberg property.
Tomtebo covers an area of 5,144 hectares and hosts the historic Tomtebo and Lovas mines, while Stollberg covers an area of 5,180 hectares and is located near Boliden’s Garpengerg mine.
The most recent update from Tomtebo came on July 29, when District released assays from a five hole, 2,485 meter drill program conducted between February and April. One highlighted drill hole recorded multiple zones of silver and base metals mineralization, including 88 g/t silver, 3 percent zinc and 1.9 percent lead over 7.85 meters.
The company has not released any news since.
FAQs for Canadian mining 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, and 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 mining companies are listed on the TSX and TSXV?
As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 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.
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.
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18 August
Graphite Market Update: H1 2025 in Review
Oversupply and trade concerns were the most impactful factors in the graphite market in H1.
Prices for graphite fell by 10 to 20 percent in 2024, as noted in an International Energy Agency report, and heading into 2025 the sector was expected to see continued divergence between China and ex-China regions.
Analysts anticipated that domestic Chinese prices would remain low, while US and European benchmarks were expected to climb as supply shifted away from China and created tighter markets.
As the year began, China’s market dominance came into focus as the US launched an investigation into the security of numerous supply chains, including anodes, which are a key end use for graphite.
While those and other factors pressured graphite prices in the first half of the year, analysts aren't ruling out a moderate recovery in H2 as inventories normalize, though competition from synthetic graphite could limit gains.
Graphite prices hit multi-year lows
Caught in the crosshairs of tariff troubles between US and China, Fastmarkets reported in May that Chinese natural graphite flake prices were at their lowest level since it started reporting on that product in 2018.
In January, the US Department of Commerce officially launched anti-dumping and countervailing duty investigations into imports of active anode material from China. The probes were designed to address concerns that Chinese producers were unfairly undercutting domestic manufacturers through subsidized or dumped pricing.
The move came after petitions filed by the American Active Anode Material Producers in December 2024.
“The new antidumping and countervailing duty investigation on active anode imports from China demonstrates that the anode production is the most challenging part of the battery supply chain for the US to compete with China,” wrote Fastmarkets research analyst Georgi Georgiev in a February report.
“The existing 25 percent tariff has had limited impact on anode imports from China, demonstrating that currently Chinese anode makers remain the cornerstone of global anode supply chains," he added.
In May, the commerce department issued an affirmative preliminary finding in its countervailing duty probe, identifying subsidy rates as high as 721.03 percent for some producers, while others faced rates of 6.55 percent. A July preliminary determination confirmed dumping, and a provisional 93.5 percent duty was imposed.
If both the commerce department and the US International Trade Commission deliver final affirmative decisions, steep duties could be imposed as soon as this fall and remain in place for at least five years.
Ex-China graphite supply increasingly key
Although graphite mine supply is experiencing growth, rising from 2020’s 966,000 metric tons to 1,600,000 metric tons in 2024, concerns abound about future supply of the key battery metal.
“Rare earth elements appear to be sufficiently supplied in 2035 based on the project pipeline. However, supply concentration for rare earths and graphite remains a key vulnerability,” an International Energy Agency (IEA) report reads. Graphite demand is seen doubling between now and 2040, driven by an uptick in electric vehicle (EV) demand.
To ensure ample supply, the IEA recommends broad growth outside of China up and down the supply chain.
“Diversification is the watchword for energy security, but the critical minerals world has moved in the opposite direction in recent years, particularly in refining and processing. Between 2020 and 2024, growth in refined material production was heavily concentrated among the leading suppliers,” the organization's report explains.
Refining capacity for critical minerals has become increasingly concentrated, with graphite among the most affected. By 2024, the top three refining nations controlled an average of 86 percent of global output for key energy minerals, up from about 82 percent in 2020. In graphite’s case, China dominates the sector, accounting for nearly all recent supply growth, a trend mirrored by Indonesia in nickel and China again in cobalt and rare earths.
Despite China’s stranglehold on the market, the IEA sees that weakening over the next decade.
“There is some diversification emerging in the mining of lithium, graphite and rare earth elements. The share of mined lithium supply from the top three producers is set to fall below 70 percent by 2035, down from over 75 percent in 2024,” the IEA states. “Graphite and rare earth elements also see some improvement as new mining suppliers emerge over the next decade — Madagascar and Mozambique for graphite and Australia for rare earths.”
While mine supply diversification is a positive first step, growth in refinement and processing capacity is unlikely to see the same ex-China growth trends. The IEA expects refining capacity for critical minerals to remain heavily concentrated well into the next decade, with graphite among the most tightly controlled.
Although some diversification is emerging for lithium and select minerals, China’s dominance shows little sign of waning. By 2035, the country is projected to supply roughly 80 percent of the world’s battery-grade graphite, alongside similar market shares in rare earths, and more than 60 percent of refined lithium and cobalt.
Tariff battle shakes anode supply chain
To counter China’s control, the US is moving aggressively to curb reliance on Chinese graphite anodes, which account for more than 95 percent of global anode output. Since June 2024, tariffs on Chinese synthetic graphite anodes have risen from zero to 160 percent — including the existing 25 percent Section 301 tariff and additional levies.
North American producers have petitioned for duties as high as 920 percent.
Chinese producers initially absorbed much of the cost of early tariffs, but analysts expect they will pass more of the recent increases on to buyers. US automakers and battery makers are bracing for higher costs, with trade data showing that all US graphite anode imports for the EV sector came from China in 2024.
China has responded with its own 84 percent import tariff on US petroleum coke and needle coke.
While China has reduced reliance on US supply, it still sources about 30 percent of each from American producers, meaning higher costs for Chinese synthetic graphite and downstream anode products.
“US EV and battery producers have battled in recent years to keep US imports of graphite anodes from China tariff-free, but their efforts have proved futile over the past nine months and the trade status of graphite anodes has shifted dramatically,” Amy Bennett, Fastmarkets' principal consultant of metals and mining, wrote in May.
Graphite supply-side fragility
Global demand for battery-grade graphite is projected to surge by 600 percent over the next decade as the energy transition and EV adoption accelerate. However, at today’s depressed prices, developing new supply outside China remains economically unviable — a challenge that’s fueling a looming supply crunch.
The US, which mines no graphite, was entirely dependent on imports to meet domestic demand in 2024, according to the US Geological Survey, leaving it and other non-China markets in a vulnerable position.
History offers a cautionary precedent: in 2010, rare earths prices spiked tenfold after China restricted exports.
Should a similar disruption hit lithium, nickel or graphite, prices could surge five to 10 times, pushing average global battery pack costs up by 20 to 50 percent, the IEA warns.
Such a jump would erode EV affordability, slow adoption and threaten the pace of the clean energy transition.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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15 August
Top 5 Canadian Mining Stocks This Week: Focus Graphite Rises Over 90 Percent
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
On Friday (August 15), Statistics Canada released wholesale trade data for June. The release indicates that sales increased 0.7 percent to C$84.7 billion for the month, with four of seven sectors reporting gains.
The increases were led by the food, beverage and tobacco sector, which increased 1.7 percent to C$15.6 billion, and on a provincial level by Québec, which reported 1.9 percent higher sales at C$15.3 billion. Sales also increased in the mineral, ore and precious metals subsector, rising to C$1.02 billion in June from C$750.84 million recorded in May.
Despite the increases, Statistics Canada notes that more than a third of all businesses questioned said Canada-US trade have tensions affected them, and that sales have been negatively impacted in all seven subsectors.
In the US, the Bureau of Labor Statistics released July consumer price index (CPI) data on Tuesday (August 12). It shows that the all-items index increased 0.2 percent month-on-month, a slight deceleration from the 0.3 percent gain in June.
Core CPI, which excludes the volatile food and energy segments, rose by 0.3 percent in July versus 0.2 percent recorded the previous month. On an annualized basis, the all-items CPI remained steady with an increase of 2.7 percent, but posted a more significant 3.1 percent gain when the food and energy categories were excluded.
On Friday, US President Donald Trump was scheduled to meet with Russian President Vladimir Putin in Alaska, US, for talks to de-escalate the war between Russia and Ukraine. Ukrainian President Volodymyr Zelenskyy was excluded from Friday’s summit, but Trump has said he hopes the meeting will lead to further talks that will include Ukraine.
The two nations have been at war since Russia invaded Ukraine in February 2022. Russia is seeking to retain the territory it has held since near the beginning of the war, while Ukraine says the original borders should be maintained.
Markets and commodities react
In Canada, equity markets were mixed this week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) was in record territory, closing Wednesday (August 13) at an all-time high of 27,993.43, but it had slipped by Friday to close the week up 0.41 percent at 27,905.49.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was flat, posting a slight loss of 0.12 percent to 790.77. The CSE Composite Index (CSE:CSECOMP) had another strong week, gaining 3.58 percent to 156.87.
US equity markets rebounded this week and finished near all-time highs.
The S&P 500 (INDEXSP:INX) set a new record on Thursday (August 14), closing at 6,468.53, but slipped to register a 1.49 percent gain on the week to 6,449.79. The Nasdaq 100 (INDEXNASDAQ:NDX) also set a new record of 23,849.04 on Wednesday, but fell in the last two days of trading, recording a weekly gain of 1.08 percent to 23,712.07.
Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) was above 45,000 points for the first time since December 2024, but failed to achieve a new record. It posted a 2.01 percent gain to finish the week at 44,946.13.
The gold price slumped this week following clarification from the White House that imports of 1 kilogram and 100 ounce gold bars from Switzerland will not face tariffs. Gold had fallen 1.81 percent by 4:00 p.m. EDT on Friday to reach US$3,338.36 per ounce. Silver also retraced this week, losing 0.7 percent to hit US$37.97 per ounce.
Copper saw little change this week, posting a 0.44 percent gain to US$4.54 per pound. The S&P GSCI (INDEXSP:SPGSCI) commodities index posted a slight decline of 0.8 percent by close on Friday, finishing at 545.59.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stock data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Focus Graphite (TSXV:FMS)
Weekly gain: 94.44 percent
Market cap: C$25.18 million
Share price: C$0.35
Focus Graphite is working to advance its Lac Knife and Lac Tétépisca projects in Québec, Canada.
Lac Knife covers 3,248 hectares in Eastern Québec. An April 2023 updated feasibility study outlines an after-tax net present value of C$284.8 million with an internal rate of return of 22.57 percent and a payback period of 3.38 years. Lac Knife is expected to produce 50,000 metric tons (MT) of graphite concentrate annually over a mine life of 27 years.
For its part, Lac Tétépisca spans 6,629 hectares in Central Québec. An April 2022 technical report shows an indicated resource of 59.3 million MT grading 10.61 percent graphitic carbon for 6.3 million MT of in-situ natural flake graphite. The inferred category stands at 14.8 million MT grading 11.06 percent graphitic carbon for 1.6 million MT.
On Wednesday (August 13), Focus resumed work on the environmental and social impact assessment for Lac Knife. In total, it has to complete 16 technical reports as required by the province to advance to the construction phase. Focus previously halted work due to funding delays, but now expects the reports to be complete in early 2026.
The firm is also moving forward with geochemical analysis of over 1,000 samples collected from 2022 exploration drilling at Lac Tétépisca. It will use the results to finalize a resource estimate, which it expects to deliver this fall.
This week's news comes after Focus said on August 8 that it had closed a non-brokered private placement for C$891,000. Funds will be used to maintain existing operations and for general capital.
2. Libra Energy Materials (CSE:LIBR)
Weekly gain: 56.67 percent
Market cap: C$13 million
Share price: C$0.235
Libra Energy Materials is a lithium-focused exploration company that is currently working to advance its Flanders North, Flanders South and Soules Bay-Caron (SBC) projects in Ontario, Canada.
The properties are part of a November 2024 earn-in agreement with KoBold Metals. Libra can earn a 75 percent stake by incurring C$33 million in exploration expenditures across the properties over the next six years.
Flanders North and South cover 40,000 hectares, and initial surveys in 2023 revealed hundreds of pegmatites, with surface exposures of up to 200 meters in width and grab samples of up to 2.86 percent lithium oxide.
SBC covers an area of 15,000 hectares and is located near Pickle Lake, Ontario. Exploration work carried out at the property in June 2024 earned the company the Bernie Schnieders Discovery of the Year Award. The discovery included several spodumene-bearing pegmatites with widths of up to 30 meters, and spodumene grades of 15 to 25 percent across SBC. During the program, the company collected 184 grab samples with up to 6.64 percent lithium oxide.
Shares of Libra gained this week, but the company did not release any news.
3. Q-Gold Resources (TSXV:QGR)
Weekly gain: 50 percent
Market cap: C$10.48 million
Share price: C$0.18
Q-Gold Resources is a gold explorer focused on the acquisition of the Quartz Mountain project in Oregon, US. On April 3, it entered into a definitive agreement with Alamos Gold (TSX:AGI,NYSE:AGI) to acquire the property.
The measured and indicated gold resource for Quartz Mountain, which spans 2,000 hectares, comes in at 339,000 ounces at an average grade of 0.87 grams per MT (g/t) from 12.16 million MT of ore; its inferred resource stands at of 1.15 million ounces with an average grade of 0.91 g/t from 39.21 million MT ore.
Q-Gold's latest news came on August 8. It said company representatives intend to visit the project site for the first time. They expect to conduct sampling of select diamond drill cores and verify the current status of all claims at the project.
4. Glenstar Minerals (CSE:GSTR)
Weekly gain: 49.12 percent
Market cap: C$17.58 million
Share price: C$0.85
Glenstar Minerals is an exploration company working to advance projects in Nevada, US.
Its Green Monster property consists of 35 lode claims and covers 700 acres southwest of Las Vegas. The property hosts nickel, copper, cobalt and zinc mineralization, and has mine workings dating back to the late 1800s.
The most recent update from the property came this past Wednesday, when Glenstar announced that it will switch the focus of its Phase 2 drill program to extension drilling following the discovery of a new polymetallic zone. The drilling will be centered on a high-grade zinc occurrence with grades above 30 percent and assay results of up to 177 parts per million (ppm) silver, 523 ppm nickel, 91.9 ppm cobalt and copper of 0.36 percent.
The company also owns the Wildhorse property in Southern Nevada. The early stage project has had limited exploration, but assays from a sampling program were released on July 23. In that announcement, Glenstar said four grab samples from the Coca Cola zone returned copper grades of 1.6 percent, 5.3 percent, 2.3 percent and 5.1 percent, with an average of 21.6 ppm silver, 156 ppm bismuth and 72.5 ppm tungsten.
Four samples were also collected from the Highland zone, which returned average grades of 0.16 percent copper, 1.23 percent zinc, 1.98 percent lead and 43 ppm silver.
5. Sterling Metals (TSXV:SAG)
Weekly gain: 47.69 percent
Market cap: C$13.3 million
Share price: C$0.48
Sterling Metals is an exploration company working to advance a trio of projects in Canada. Over the past year, its primary focus has been on exploration at its brownfield Soo copper project in Ontario. The 25,000 hectare property has hosted two past-producing copper mines and has the potential for larger intrusion-related copper mineralization.
On January 15, Sterling announced results from a 3D induced-polarization and resistivity survey that covered an area of 5 kilometers by 3 kilometers and revealed multiple high-priority drill-ready targets.
The company intends to use the survey results, along with historical exploration, to inform a drill program at the site.
The company’s other two projects are Adeline, a 297 square kilometer district-scale property with sediment-hosted copper and silver mineralization along 44 kilometers of strike, and Sail Pond, a silver, copper, lead and zinc project that hosts a 16 kilometer long linear soil anomaly and has seen 16,000 meters of drilling.
Both properties are located in Newfoundland and Labrador.
The most recent news from the company came on August 7, when Sterling reported that it had commenced Phase 2 drilling at Soo. The 3,000 to 5,000 meter program is designed to test areas defined through the Phase 1 program, as well as historic drill data and geophysical interpretations.
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.
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13 August
Top 3 Canadian Graphite Stocks of 2025
Graphite prices have experienced volatility recently due to bottlenecks in demand for electric vehicles.
One major factor experts are watching right now is the trade war between China and the US.
China introduced export restrictions on certain graphite products on December 1, 2023, making it a requirement for Chinese exporters to apply for special permits to ship the material to global markets. In July 2024, the Trump administration in the US announced it would raise tariffs on battery-grade graphite imports from China to 93.5 percent.
Another trend shaping the graphite market in 2025 has been increasing substitution of natural graphite with synthetic in battery anode production; this comes in response to Chinese exports restrictions and US tariffs on natural graphite.
This has led to much lower prices for natural graphite, and against that backdrop, many Canadian graphite stocks have trended down. However, several graphite-focused companies have seen strong performances this year.
Below is a look at the year’s best-performing graphite stocks on the TSXV and CSE; TSX companies were considered, but none made the cut this time. Data was obtained on July 29, 2025, using TradingView’s stock screener, and all companies listed had market caps above C$10 million at that time. Read on to learn more about their work this year.
1. HydroGraph Clean Power (CSE:HG)
Year-to-date gain: 384.21 percent
Market cap: C$282.81 million
Share price: C$0.99
HydroGraph Clean Power produces cost-effective, high-purity graphene, hydrogen and other strategic nanomaterials.
Graphene, a pure carbon material extracted from graphite, has myriad potential applications in industries such as transport, solar cells, medicine, electronics, energy, defense and desalination.
HydroGraph has an exclusive license from Kansas State University to produce graphene and hydrogen via the organization's patented detonation process. While lower-purity graphene is typically produced using natural graphite, HydroGraph's patented process produces 99.8 percent pure carbon content graphene using acetylene and oxygen.
Much of HydroGraph's news flow in 2025 has centered on strategic partnerships.
Results from a research study conducted with Arizona State University were released in January, demonstrating that the company’s HydroGraph’s Fractal Graphene is well suited for ultra-high-performance concretes and 3D-printed structures. In February, HydroGraph announced a technical collaboration with an unnamed global leader in synthetic fiber manufacturing to assess the potential of its graphene technology in high-performance fiber applications.
The following month, HydroGraph shared the launch of a line of advanced graphene dispersions developed in collaboration with battery materials and testing services company NEI. The products have the potential to be used to produce high-performance electrodes for use in energy storage solutions.
The company signed a letter of intent in April that could lead to a leading North American industrial gas supplier providing it with access to large volumes of high-purity acetylene. This is an essential material in HydroGraph's patented detonation synthesis process. Acquiring this feedstock will help the firm advance its plans to build a new graphene production facility in Texas with the capacity to produce over 350 metric tons of graphene annually.
HydroGraph launched its Compounding Partner Program in July with the goal of attaining commercial-scale production of its high-performance Fractal Graphene in thermoplastics. According to the company, initial certified partners are testing new formulations in the automotive and packaging sectors.
After trading in a range of C$0.22 to C$0.35 for much of the year, shares of HydroGraph jumped nearly 300 percent in a matter of days to reach a year-to-date high of C$0.99 on July 29.
2. Black Swan Graphene (TSXV:SWAN)
Year-to-date gain: 107.35 percent
Market cap: C$60.02 million
Share price: C$1.41
Black Swan Graphene describes itself as an emerging powerhouse in the bulk graphene business.
The company is a spinout of Mason Resources (TSXV:LLG,OTCQB: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 of mine-to-graphene products.
Black Swan's share price traded sideways for much of the year before benefiting greatly from a summer surge. Shares of Black Swan reached their highest year-to-date price of C$1.52 on July 23.
This followed a series of positive news items concerning progress on increasing commercial output. On June 3, Black Swan announced the installation of an additional production unit at its operational facility in the UK. It is working to more than triple its annual production capacity from 40 metric tons of high-quality graphene to 140 metric tons.
Later in the month, the company signed a non-exclusive distribution and sales agreement with Indian specialty materials and polymers supplier METCO Resources. The agreement will allow METCO to “distribute and promote Black Swan’s graphene nanoplatelets and GEM advanced masterbatch products to customers across India’s industrial, packaging, automotive, and construction sectors,” as per a press release.
Black Swan made another key announcement in the following month. On July 9, the market learned the company had secured a US patent for its breakthrough continuous graphene production process.
3. Focus Graphite Advanced Materials (TSXV:FMS)
Year-to-date gain: 100 percent
Market cap: C$12.26 million
Share price: C$0.135
Focus Graphite Advanced Materials is both a graphite miner and a battery technology company. Its wholly owned flagship Lac Knife high-grade crystalline flake graphite project is located in Northeastern Québec.
With a completed feasibility study, Lac Knife is one of North America’s most advanced graphite deposits. The company also holds Lac Tétépisca, the highest-purity graphite project in Québec.
In terms of battery technologies, Focus Graphite has a patent-pending proprietary silicone-enhanced spheroidized graphite technology that is designed to enhance battery performance and efficiency.
In late May, definition drilling at Lac Tétépisca led to an extension of the strike length of the mineralized zone to over 6 kilometers, while preliminary metallurgical testing confirmed the quality of the project’s flake graphite.
In mid-June, the company said thermal purification testing on Lac Knife flake graphite completed by American Energy Technologies Company had resulted in refined concentrate to a purity level of 99.999 percent carbon.
“This milestone underscores Focus Graphite’s potential to supply ultra-high-purity graphite material for nuclear energy applications, a market historically dominated by synthetic graphite and limited to a small cohort of qualifying producers,” states the company's press release.
Shares of Focus Graphite hit their highest year-to-date value of C$0.17 on June 17.
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.
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11 August
ASX Graphite Stocks: 5 Biggest Companies of 2025
Graphite isn’t just used for pencils — it's also a key lithium-ion battery component.
This means the graphite sector could experience tailwinds from rising demand for electric vehicles and energy storage systems in the coming years. Australian investors searching for ways to get exposure to the graphite industry can look to the ASX, which is home to a slew of companies focused on the graphite market.
When learning about an industry, it's often a good idea to start with key players. Here the Investing News Network has compiled a list of the largest graphite-focused companies on the ASX by market cap.
Data was collected using TradingView's stock screener on July 29, 2025.
Read on to learn about Australia's largest graphite companies.
1. Sovereign Metals (ASX:SVM)
Market cap: AU$472.27 million
Sovereign Metals is focused on advancing on its Kasiya rutile-graphite project in Malawi.
The company believes the graphite from its project has the potential to be used to supply spherical purified graphite for the lithium-ion battery anode market. Kasiya's graphite co-product ore reserve is 538 million tonnes at 1.66 percent graphite, for 8.9 million tonnes of contained graphite.
Major miner Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has made a series of strategic investments in Sovereign Metals of more than AU$60 million, giving it a 19.99 percent stake in the company.
With this funding and Rio Tinto's technical expertise, Sovereign is advancing Kasiya toward a definitive feasibility study (DFS). In April, the company announced that extensive geotechnical investigations are underway at key infrastructure locations at the project, which will support layout and engineering design for the DFS slated for completion in Q4 2025. An updated mineral resource estimate is expected to be out this year.
2. Syrah Resources (ASX:SYR)
Market cap: AU$390.84 million
Syrah Resources is an industrial minerals and technology company with a vision of becoming a leading global supplier of graphite and battery anode products. The company's two main focuses right now are its flagship Balama graphite project in Mozambique and its Vidalia anode materials facility in Louisiana, US.
Syrah started production at the Vidalia facility early last year, making it the first integrated graphite processor outside of China. The plant has an annual production capacity of 11,250 tonnes of active anode material, and Syrah stated in its March 2025 quarterly report it is considering expanding Vidalia’s production capacity to 45,000 tonnes per year. The final investment decision is dependent on sales of the product and customer and financing commitments.
Syrah’s Balama operation has a projected lifespan of over 50 years, and its combined mining and processing operations allow for the production of 94 to 98 percent pure carbon graphite concentrate. The company reached a milestone in April 2024 with the sale of 10,000 tonnes of natural graphite fines from Balama to Indonesia BTR New Energy Materials.
Syrah inked a binding offtake agreement with electric vehicle maker Lucid Group (NASDAQ:LCID) in February 2025 for the supply of natural graphite active anode material from Vidalia totalling approximately 7,000 tonnes in aggregate over a three-year term kicking off at the start of 2026.
The company also has binding offtake agreements with South Korea's Posco Future M (KRX:003670), Tesla (NASDAQ:TSLA), Westwater Resources (NYSEAMERICAN:WWR) and Graphex Technologies, a wholly owned subsidiary of Graphex Group (NYSEAMERICAN:GRFX,HKEX:6128).
3. Talga Group (ASX:TLG)
Market cap: AU$211.56 million
Talga Group is a vertically integrated battery anode and materials company, meaning it mines its own graphite and also produces anodes. It has operations in Sweden, Japan, Australia, Germany and the UK.
As of June 2025, all the necessary permits are now in place for its wholly owned Nunasvaara South mine at its Vittangi anode project in Sweden, which will feed its fully permitted Luleå anode refinery. Once the refinery is in operation, it is expected to produce 19,500 tonnes of Li-ion battery anode annually.
The mine and refinery together have been designated as a strategic project under the European Commission’s Critical Raw Materials Act and the Net-Zero Industry Act.
The month prior, Talga secured a binding offtake agreement with battery charging technology company Nyobolt that includes a multi-year supply of Talga's Talnode-C graphite anode from the Vittangi anode project.
4. Renascor Resources (ASX:RNU)
Market cap: AU$178.02 million
Renascor Resources has honed its efforts on helping to power the future with clean energy resources.
While the company has five projects, most of its activities are focused on its two fully owned projects in South Australia: the Siviour battery anode materials project and the Carnding gold project.
Siviour is planned as a vertically integrated battery anode material graphite mine and manufacturing operation with Stage 1 production of 50,000 tonnes per year of battery-grade purified spherical graphite (PSG).
Last year, the Australian government approved a AU$185 million loan facility to help advance the upstream graphite concentrate operation at Siviour. The company also received a AU$5 million grant under the government’s International Partnerships in Critical Minerals Program to help fund a AU$10 million PSG demonstration processing plant.
Both of these initiatives have helped to fast track Siviour. After gaining government approval in June of this year, Renascor says it’s on track for planned commissioning of the demonstration plant in Q4 2025.
In late July, the company reported the successful completion of bulk sample production of graphite concentrate using Siviour graphite ore. The concentrate, produced at a graphite facility in China using Renascor's flowsheet, will be used as feedstock for the PSG demonstration plant.
With an average grade of 96.8 percent carbon and graphite recovery of 96.5 percent, the concentrate exceeded the parameters set out in the Siviour DFS of 95 percent carbon and 95.5 percent recovery.
5. Quantum Graphite (ASX:QGL)
Market cap: AU$170.77 million
Quantum Graphite is advancing the Uley 2 flake graphite project, which includes the past-producing Uley mine and the Mikkira deposit. The company bills it as “one of the largest high-grade natural flake deposits in the world.”
The South Australia-based project is fully permitted and development ready, with a binding offtake agreement with a major European trading group for 50 percent of its production for a minimum of five years.
Through its Sunlands Power joint venture with Sunlands Energy, Quantum Graphite plans to manufacture coarse-natural-flake-based thermal storage media sourced from the Uley mine to be fitted within Sunland Energy’s patented TES Graphite Cells technology for grid-connected, long-duration energy storage.
In early March, the Australian government granted major project status to the Uley 2 flake graphite property together with Sunland's associated facilities.
FAQs for investing in graphite
What is graphite?
Graphite is a naturally occurring form of the mineral carbon and is composed of many layers of graphene. The other naturally occurring form of carbon is diamonds, although the two minerals look entirely different due to their molecular structure. Graphite is fragile, but it has a very high heat resistance.
Graphite comes in three forms: amorphous, flake and vein, with flake being the most used. There is also synthetic graphite.
What is graphite used for?
The first thing that may come to mind when thinking of graphite applications is pencil lead. In fact, it is that industry that gave graphite its name — its moniker is derived from the Ancient Greek "graphein," which means to write. However, pencils make up a small percentage of overall graphite consumption.
A popular up-and-coming graphite use is as a component of lithium-ion batteries, which are used in everything from smart phones to EVs. It is a primary material in battery anodes — in fact, in the average electric passenger car, there are about 66 kilograms of graphite.
Other graphite uses include lubricants and consumer electronics; the commodity is also used as a refractory material in the manufacturing industry and in the creation of graphene sheets.
Is graphite found in Australia?
Even though there are no large-scale producing graphite mines in Australia (yet), the country sits on 5 million tonnes of ore reserves, and 7.97 million tonnes of economic demonstrated resources, as per government data published in 2022. These reserves and resources are shared between three states: Queensland, South Australia and Western Australia.
Article by Melissa Pistilli; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, 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.
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06 August
NextSource Pens Graphite Deal with Mitsubishi as US Tightens Grip on Sector
NextSource Materials (TSX:NEXT,OTCQB:NSRCF) announced that it has signed a multi-year offtake agreement with Mitsubishi Chemical Corporation (MCC), furthering its bid to become a vertically integrated graphite supplier for the North American electric vehicle (EV) market.
Under the agreement, NextSource will supply approximately 9,000 metric tons per year of intermediate anode active material (AAM) to MCC’s plant in Japan.
MCC, Japan’s largest chemical company and a key supplier to major auto manufacturers, will refine the material into finished AAM for EV battery production in North America.
“We are excited to have entered into a partnership with Mitsubishi Chemical Corporation through a binding offtake agreement for the production of active anode material in the Middle East,” said Hanré Rossouw, President and CEO of NextSource.
The timing is also strategic. The company is fast-tracking development of a large-scale Battery Anode Facility (BAF) in the United Arab Emirates to process its proprietary SuperFlake graphite concentrate from the Molo mine in Madagascar.
The facility will serve as the production hub for the MCC agreement, with initial shipments expected following a rigorous qualification process in 2026. The company said that equipment installations are already underway and a full-scale ramp-up is targeted for 2027.
In addition to processing and logistics, NextSource is preparing for a Phase 2 expansion of the Molo mine to ensure sufficient graphite feedstock. The Madagascar-based project, which began Phase 1 operations this year, is one of the world’s highest-quality graphite deposits and the only one producing SuperFlake graphite, according to the company.
NextSource says its long-term goal is to offer a fully traceable, scalable, and China-independent source of battery-grade anode material.
The company is also in advanced talks with strategic financing partners to fund construction of the BAF and Molo expansion. Technical and economic studies are underway to determine capital requirements and investment timing.
The agreement also comes amid tightening restrictions on Chinese battery materials. In July, the US Department of Commerce imposed a 93.5 percent anti-dumping duty on anode-grade graphite imports from China, adding to existing countervailing tariffs for a combined effective rate of around 160 percent.
The decision, prompted in part by complaints from the American Active Anode Material Producers (AAAMP), was designed to shield domestic producers from what they describe as unfairly priced Chinese shipments.
The decision could reshape the graphite market, which has long been dominated by China, which is currently responsible for roughly 95 percent of global anode output. Imports from China made up two-thirds of the 180,000 metric tons of graphite shipped to the US in 2023.
Overall, there is also growing urgency among EV supply chain participants to pivot away from China.
While materials like lithium and cobalt have captured more headlines, graphite, which makes up over 95 percent of the anode side of an EV battery, is equally critical, accounting for as much as 50 kilograms per vehicle.
With the new tariffs in place, industry analysts expect a significant acceleration of non-Chinese supply chain development, particularly for US automakers under pressure to secure compliant sources.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: NextSource Materials is a client of the Investing News Network. This article is not paid-for content.
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