Top 5 Canadian Graphite Stocks (Updated May 2023)

Year-to-date gain: 63.33 percent; market cap: C$34.62 million; current share price: C$0.245

Mason Graphite is working to “develop vertical and horizontal integration in the mining industry,” according to the company, and its main focus is battery materials and their by-products. Mason owns the Lac Guéret deposit, which it says is “one of the richest graphite deposits in the world.”

Lac Guéret hosts the Uatnan project, which Mason is working to develop in collaboration with Nouveau Monde Graphite (TSXV:NOU,NYSE:NMG); the two companies are working toward a potential joint venture on the project. Under the agreement, production from Uatnan would use Nouveau Monde’s Phase 1 natural graphite flake concentrator plant.

Mason Graphite’s share price shot up at the beginning of the year after the company released a preliminary economic assessment for Uatnan, rising from C$0.22 overnight to a year-to-date high of C$0.42 by January 19. The document, which the company filed in March, shows annual graphite concentrate production of 500,000 metric tons over a 24 year mine life.

Most recently, Mason released news from its 41 percent owned graphene company Black Swan. Graphene (TSXV:SWAN,OTCQB:BSWGF), which it spun out last year.

Year-to-date gain: 46.53 percent; market cap: C$168.43 million; current share price: C$1.48

Graphite One aims to be a graphite anode producer at its Graphite One project, which would be fed using material from its Graphite Creek project in Alaska, US.

In February, drill results from 2022 exploration at Graphite Creek showed the expansion of mineralization with significant graphite grades. The company’s share price hit a year-to-date high of C$1.93 on March 7, days before it announced that the US Geological Survey’s report on the project reflects its own discoveries. According to the report, “(Graphite Creek) is the largest known flake graphite resource in the USA and is among the largest in the world.”

Ultimately, the company announced, its 2022 exploration increased its resource by 15.5 percent in the measured and indicated categories to 37.6 million metric tons at 5.41 percent contained graphite. Most recently, Graphite One received sample graphite anodes created from its graphite, and the resultant product is now being sent for evaluation.

Year-to-date gain: 25 percent; market cap: C$33.11 million; current share price: C$0.20

Leading Edge Materials is focused on developing projects in countries that are part of the European Union. Its assets, which focus on critical raw materials, are the Woxna graphite project and Norra Kärr heavy rare earth elements project in Sweden, along with the 51 percent owned Bihor Sud nickel-cobalt project in Romania. Woxna is currently on care and maintenance, although the company announced in 2022 that it was evaluating a restart at Woxna.

Leading Edge’s share price jumped to start the year alongside a corporate update on its three projects. With regards to Woxna, the company stated: “a change in the Company’s executive management during the second half of the year delayed a decision on this process.” The company is currently working on an environmental study for Norra Kärr and is planning a prefeasibility study for the rare earths project in the second half of 2023.

On January 23, Leading Edge identified extensive nickel and cobalt in galleries at its Bihor Sud project. Its share price rose to a year-to-date high of C$0.29 two days later. The company went on to discover further mineralization in March, and released quarterly results later that month.

Year-to-date gain: 7.14 percent; market cap: C$11.51 million; current share price: C$0.075

Ceylon Graphite is exploring and developing its graphite projects in Sri Lanka with the goal of soon moving to production. Ceylon also develops and commercializes graphene and graphite products.

After trading between C$0.06 and C$0.08 for the first two months of the year, Ceylon’s share price doubled on March 2 over the previous close, moving from C$0.06 to C$0.12 — still a year-to-date high.

The jump came as the company announced that testing of Ceylon’s vein graphite anode material showed outstanding performance results compared to the synthetic graphite that is the industry standard. According to the release, “This is the first time that spherodized vein graphite materials were tested in a lithium-ion battery full cell.”

On March 22, Ceylon hired Klaus Leiders, who has experience developing graphite projects in Sri Lanka, as its chief mining manager. He will help the company as it begins commercial production and works to rapidly expand its production capacity.