ECGFF - Graphite Miners News For The Month Of July 2023

2023-07-29 06:05:13 ET

Summary

• Flake graphite prices & spherical graphite prices were lower the past month. The fall in synthetic graphite prices and increased capacity in China have weighed on prices of natural graphite.
• Graphite market news - Investing News - "The flake graphite market is expected to be in deficit in 2024 and 2025".
• Graphite company news - Syrah Resources Balama production strategically constrained. Northern Graphite signs land agreement for Baie-Comeau Battery Anode Material Plant.
• Gratomic commences commercial commissioning phase at the Aukam Graphite Mine in Namibia. Talga Group secures land for Swedish Battery Anode Refinery.
• SRG Mining & C-ONE strategic cooperation and investment agreement, includes C-ONE to acquire 19.4% stake in SRG. Renascor Resources signs Strategic Cooperation Agreement with Mitsubishi Chemical.

Welcome to the July edition of the graphite miners news.

July saw continued very low flake graphite prices and pressure on the flake graphite producers to remain profitable.

Graphite price news

During the past 30 days the China graphite flake-194 EXW spot price was down 3.23%. The China graphite flake +195 EXW spot price was down 2.08% . Note that 94-97% is considered best suited for use in batteries; it is then upgraded to 99.9% purity to make "spherical" graphite used in Li-ion batteries. The spherical graphite 99.95% min EXW China price was down 1.86% the past 30 days.

Fastmarkets' price assessment for graphite flake, 94% C, -100 mesh, fob China , was $750-770/t on March 2, 2023 (down ~6% since March) ( source )

Note: You can read about the different types of graphite and their uses here .

Graphite demand and supply forecast charts

BMI graphite-market-balance benchmarkweek-2022 ( source )

Macquarie Research (March 2023) forecasts flake graphite deficits starting in 2025 and growing larger to 2030 ( source )

Trend Investing v IEA demand forecast for EV metals ( Trend Investing ) ( IEA )

2021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020 - Increases Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Rare Earths 3x to 7x, And Copper 2x to 3x

2022 - BMI forecasts we need 330+ new EV metal mines from 2022 to 2035 to meet surging demand - 97 new 56,000tpa natural flake graphite mines

Benchmark breakdown of the supply chain estimated costs needed to reach 2030 battery cell demand estimates - Natural graphite will require $3b, synthetic graphite $1.5b ( source )

Graphite market news

On July 14 Benchmark Mineral Intelligence reported :

Natural graphite prices fall by 20% on China supply increase...due to growth in supply chain in China, the world's largest producer, and slower sales of electric vehicles.

On July 18 Investing News reported :

Graphite Market Update: H1 2023 in Review.....During the second half of the year, Wood Mackenzie is expecting demand for natural graphite to improve. "EV sales are continuing to grow rapidly, up some 45 percent year-on-year in May and 12 percent month-on-month," Willoughby said. "Steel demand should return as the economic environment improves." Similarly, Benchmark Mineral Intelligence is forecasting that natural graphite demand will gradually rise throughout 2023......Looking over to supply, both natural graphite and synthetic are seen facing challenges ahead...... the flake graphite market is expected to be in deficit in 2024 and 2025 , given a lack of supply-side development against strong end-market demand. "The main challenge for natural graphite miners is getting the supply up in time to meet this rising demand, with it taking up to 30 years to build out a mine from investment to production outside of China," Alderson said.

Note: Bold emphasis by the author.

On July 24 Fastmarkets reported :

China's anode market tilts toward synthetic graphite amid supply shake-up. The anode market has increasingly shifted focus to synthetic graphite from natural material in response to increased capacity and changing feedstock in China, which dominates the global market......The fall in synthetic graphite prices and increased capacity in China have weighed on prices of natural graphite.

Graphite miners news

Graphite producers

We have not covered the following graphite producers as they are not typically accessible to most Western investors. They include - Aoyu Graphite Group, BTR New Energy Materials, Qingdao Black Dragon, National de Grafite, Shanshan Technology, and LuiMao Graphite.

Note: AMG Critical Materials N.V. [AMS:AMG] [GR:ADG] ( OTCPK:AMVMF ) is also a "diversified producer", producing graphite, vanadium, and lithium. SGL Carbon (ETR: SGL ) is a synthetic graphite producer and Novonix [ASX:NVX] ( NVNXF ) is commercializing their synthetic graphite product. Graphex Group Limited [HK:6128] (GRFX) makes spherical graphite.

Syrah Resources Limited [ASX:SYR][GR:3S7]( SYAAF )( SRHYY )

Syrah Resources Limited owns the Balama graphite mine in Mozambique. Syrah is also working to become a vertically integrated producer of natural graphite Active Anode Material ("AAM") at their Vidalia facility, Louisiana, USA.

On July 18 Syrah Resources announced : "Quarterly activities report for the three months ending 30 June 2023." Highlights include:

• "....Volatile Chinese anode market conditions, resulting from apparent high cell and anode inventories, with global electric vehicle ("EV") sales growing 55% in June 2023 quarter compared to June 2022 quarter, to ~3.4 million units.
• Lower quarter on quarter natural graphite sales with sales orders to Chinese anode customers being strategically limited - 15kt natural graphite sold and shipped to 3rd party customers and 2kt shipped to Vidalia.
• Balama production constrained by maximum inventory positions and lower natural graphite sales - 15kt produced at Balama at 78% recovery in April 2023 and production paused in May and June 2023.
• Balama C1 costs (FOB Nacala/Pemba) of US$565 per tonne in April 2023, impacted by volume and diesel price.
• Weighted average sales price of US$688 per tonne ((CIF))2 with significantly higher coarse flake sales mix and higher coarse pricing quarter on quarter.
• Progressing second binding AAM offtake agreement with Tesla, Inc. (TSLA) ("Tesla") concurrent with offtake negotiations with other potential customers.
• Construction of the 11.25ktpa AAM Vidalia facility ("Vidalia Initial Expansion") is advancing - total installed capital cost estimate revised to US$190 million and start of production in the December 2023 quarter.
• Definitive Feasibility Study ("DFS") on expansion of Vidalia to a 45ktpa AAM, inclusive of 11.25ktpa AAM, production capacity ("Vidalia Further Expansion") confirms project is technically viable, financially robust and expected to generate significant value for Syrah.
• Commenced transition activity for Vidalia Further Expansion project to maintain readiness for a FID in H2 2023.
• Second ~US$44 million advance of US$102 million loan from US Department of Energy ("DOE") completed to support financing for the Vidalia Initial Expansion.
• Progressing financing options, including with DOE, to fund a significant proportion of Vidalia Further Expansion capital costs.
• Quarter end cash balance of US$101 million, including restricted cash of US$55 million.
• Up to A$150 million (US$102 million5) in new convertible notes with AustralianSuper6 - first A$50 million (US$34 million5) series issued and second A$50 million series to be issued in August 2023 with shareholder approval."

On July 18 Syrah Resources announced : "June 2023 quarterly activities and cashflow report - amended....."

You can view the latest investor presentation here or the May 2023 AGM presentation here .

Catalysts:

• December 2023 quarter - First Stage 11.25ktpa AAM Vidalia facility targeted to start production.

Natural graphite and AAM demand will increase three and five times, respectively, over the next 10 years ( source )

Ceylon Graphite [TSXV:CYL] [GR:CCY] ( OTC:CYLYF )

Ceylon Graphite has 'Vein graphite' production out of one mine in Sri Lanka with 121 square kilometers of tenements.

On July 6 Ceylon Graphite announced :

Ceylon Graphite Garners new sales interest and expands discussions with customer targets....."There has been a significant increase in activity with potential buyers and I am confident that there are many customer options as the company scales production," said Ceylon CEO, Sasha Jacob. "Although the company has not yet concluded any agreements for the sale of its graphite, interest has been received from customers in Asia, Europe and North America. Ceylon will continue to evaluate opportunities to capture the greatest margin at incremental stages of production volume increases."

On July 19 Ceylon Graphite announced :

Ceylon Graphite outperforms other graphite materials in a groundbreaking graphene-based sensing platform for Chemical Analysis Study conducted by Imperial College London.

Mineral Commodities Ltd. ("MRC") [ASX:MRC]

Skaland Graphite is 100% owned by MRC. Skaland is the highest grade flake graphite operation in the world and largest producing mine in Europe; with immediate European graphite production of up to 10,000 tonnes per annum with regulatory approval to increase to 16,000. MRC plans to demerge its Norwegian graphite assets into a newly incorporated Norway company branded as Ascent Graphite.

On July 3 Mineral Commodities Ltd. announced : "MRC to take 100% ownership of Skaland: BSG matter settled."

On July 27 Mineral Commodities Ltd. announced : "Appointment of Chief Executive Officer....Scott Lowe."

Tirupati Graphite [LSE:TGR]

On July 10 Tirupati Graphite reported :

Mozambique operations update.....Following its completion of a Definitive Feasibility Study ("DFS") in 2017, BAT started construction of a 50,000 ton per annum production plant at Montepuez. This construction included a 100-person accommodation camp, significant Tailings Storage Facility ("TSF") work, as well as road and culvert infrastructure being put in place at Montepuez. Acquisition of certain long lead equipment was also initiated and a mobile crusher stands at the site, with sufficient capacity to meet the ore feed for a 50,000 tons per annum processing facility.....

On July 27 Reuters reported :

Tirupati eyes 8% of global graphite market after Mozambique acquisitions.....Seeks to profit from Western drive to reduce reliance on China. Tirupati Graphite (TGRT.L) plans to start producing 50,000 metric tons of graphite next year in Mozambique, targeting 8% of global output by 2030, its executive chairman has said.

Northern Graphite [TSXV:NGC][FRA:ONG] ( OTCQX:NGPHF )

Northern Graphite purchased from Imerys the Lac des Iles producing graphite mine in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia. They also own the Bissett Creek graphite project located 100km east of North Bay, Ontario, Canada and close to major roads and infrastructure. The Company has completed an NI 43-101 Bankable final Feasibility Study and received its major environmental permit.

On June 29 Northern Graphite announced :

Northern Graphite signs land agreement for Baie-Comeau Battery Anode Material Plant, advances mine-to-market strategy.....has signed a letter of intent ("LOI") with the city of Baie-Comeau to purchase land for a 200,000 tonne per year Battery Anode Material ("BAM") plant as it advances plans to supply anode material to lithium-ion battery manufacturing plants throughout North America. The LOI, which is subject to financing and receipt of regulatory approvals, gives Northern the right to purchase a 1.2 million m ² property, approximately 300 acres, in the Baie-Comeau port industrial zone, with access to municipal services and infrastructure, for US$1.2 million.

You can view the latest investor presentation here and the Trend Investing article on Northern Graphite here or a Trend Investing CEO interview here .

NextSource Materials Inc. [TSX:NEXT] [GR:1JW] ( NSRCF )

NextSource Materials Inc. 100% owns the Molo Graphite Mine in Madagascar. The Company also has the Green Giant Vanadium Project on the same property.

On July 6 NextSource Materials Inc. announced : "NextSource Materials announces completion of 2.6MW Solar Farm at Molo Graphite Mine in Madagascar....."

On July 13 NextSource Materials Inc. announced :

NextSource Materials announces pricing of overnight marketed Offering. ("NextSource" or the "Company") is pleased to announce that it has priced its previously announced overnight marketed public offering (the "Offering"). Pursuant to the Offering, NextSource will issue 30,303,500 common shares of the Company (each a "Share") at a price of C$1.65 per Share (the "Offering Price") for gross proceeds of approximately C$50 million. The Offering is being conducted through a syndicate of underwriters co-led by Cormark Securities Inc. and BMO Capital Markets (collectively, the "Underwriters").

Investors can view the latest company presentation here or the latest Trend Investing article here .

Gratomic Inc. [TSXV:GRAT] [GR:CB82] ( CBULF )

Gratomic's Aukam Graphite Project is located in Namibia, Africa. Gratomic also 100% own the Capim Grosso Graphite Project in Brazil. Gratomic is also collaborating with Forge Nano to develop a second facility for graphite micronization and spheronization.

On June 30, Gratomic Inc. announced :

Gratomic commences commercial commissioning phase at the Aukam Graphite Mine in Namibia.....Gratomic Inc. ("Gratomic", "GRAT," or the "Company") (TSXV:GRAT) (FSE:CB82) (CBULF) announces that commercial commissioning has begun at its Aukam Graphite mine in Namibia to prepare the first 100 tonnes of product to send customers for final inclusion into value-added applications. Aukam's primary focus in product development has been to become one of the first projects in the world to successfully introduce Vein Graphite into anode on a large scale. The Company succeeded in achieving this milestone with the assistance of its partner Graphex Technologies LLC. Through independent testing, Graphex was able to verify the suitability of Vein Graphite and its degree of graphitization as suitable for anode inclusion (see the Company's Press Release dated June 8, 2023).

Graphite developers

Talga Group [ASX:TLG] [GR:TGX] ( OTCPK:TLGRF )

Talga Group is a technology minerals company enabling stronger, lighter and more functional materials for the multi-billion dollar global coatings, battery, construction and carbon composites markets using graphene and graphite. Talga 100% owned graphite deposits are in Sweden, proprietary process test facility is in Germany.

On July 17 Talga Group announced :

Environmental permit for Talga's anode refinery in force.....The Swedish Land and Environment Court ("Court") has confirmed that the environmental permit appeal period closed on 12 July 2023 with no appeals submitted and has consequently issued Talga with a Certificate of Finality to confirm that the environmental permit is in force. This completes the statutory process for the Refinery environmental permit which was granted with an execution order on 21 June 2023 (ASX:TLG 22 June 2023). The Refinery building permits were granted earlier this year and also entered into force after receiving no appeals. Talga is targeting commencement of Refinery construction groundworks this quarter. Early works including anode equipment procurement and early detailed engineering are underway.

On July 17 Talga Group announced :

Talga secures land for Swedish Battery Anode Refinery. Battery materials company Talga Group Ltd ("Talga" or "the Company") [ASX:TLG] is pleased to advise that it has acquired a strategic ?10 hectares parcel of freehold land for construction of its 19,500 tonne per annum natural graphite anode production plant ("Refinery"), in Luleå, Sweden1. The Refinery, which is part of Talga's Vittangi Anode Project, will be the foundational operation of the new Luleå Industrial Park and is part of the growing cluster of green industrial projects in the region. The land acquisition from Luleå Municipality for a total purchase consideration of 16.5 million Swedish krona (approximately A$2.2 million) secures immediate access to site. The land title resides 100% in Talga's wholly owned subsidiary Talga AB.

On July 25 Talga Group announced : "Quarterly activities review for period ending 30 June 2023." Highlights include:

Vittangi Anode Project development

• "Environmental permit approved for commercial battery anode refinery in Luleå.
• Luleå Refinery land acquired and preparations for construction underway subsequent to quarter.
• Growth of natural graphite Mineral Resource, including 71% expansion of Niska deposits.
• Strategic land acquired at Vittangi mine site subsequent to quarter.
• Nunasvaara South mine permit update."

Commercial development

• "European Investment Bank approves €150m debt funding to cornerstone project finance.
• Continued due diligence and site visits towards finalising balance of debt finance consortium."

Corporate and finance

• "Battery anode products advance in customer qualification programs.
• Market update.
• Talga presenting and exhibiting at globally significant industry events.
• Cash balance of A$38.6 million as at 30 June 2023."

You can view the latest investor presentation here .

Westwater Resources (NYSE: WWR )

Westwater Resources Inc. is developing an advanced battery graphite business in Alabama. The Coosa Graphite Plant (2023 production start) plans to source natural graphite initially from non-China suppliers and then from the USA from 2028.

No news for the month.

You can view the latest investor presentation here .

Magnis Energy Technologies Ltd [ASX:MNS] ( MNSEF )

Magnis is an Australian based company that has rapidly moved into battery technology and is planning to become one of the world's largest manufacturers of lithium-ion battery cells. Magnis has a world class graphite deposit in Tanzania known as the Nachu Graphite Project.

On June 30 Magnis Energy Technologies Ltd. announced :

Letter of Intent executed for AAM Facility.....for Phase 1 of the Anode active materials commercialization facility in the United States. It is planned that the facility will be used to produce Magnis Natural Graphite Anode Active Material in the US.....

On July 3 Magnis Energy Technologies Ltd. announced : "Magnis increases ownership in iM3NY." Highlights include:

• "Conversion of Bridging Finance into iM3NY equity takes Magnis' ownership interest to 73%.
• Following UN38.3 certification, commercial field trial sales from production lots are expected to begin this quarter.
• Potential strategic investors/partners continue to evaluate a possible investment in iM3NY."

On July 17 Magnis Energy Technologies Ltd. announced :

Magnis raises $10 million in well supported placement....at $0.12 per share, which will be issued within the capacity under Listing Rule 7.1.

Black Rock Mining [ASX:BKT]

On July 19 Black Rock Mining announced : "June 2023 quarterly activities report." Highlights include:

• "Binding agreements signed with Strategic Alliance Partner, POSCO, including: US$10M prepayment agreement, repayable via delivery of product; and Offtake agreement for 100% of planned life of mine graphite fines (-#100) for Module 1 production.
• MOU signed with POSCO for supply of up to 6,000 metric tonnes per annum of high-quality large flake natural flake graphite concentrate from Module 1, further deepening the relationship with POSCO.
• A$10M raised at A$0.115 per share in a strongly supported Placement to new and existing institutional and sophisticated investors, with cornerstone support received from a large US-based fund.
• Lenders hosted by Black Rock management at the Mahenge Graphite Project site - all three leading potential lenders have now completed site visits and have substantially completed due diligence.
• Debt financing process well advanced with management seeking credit approved term sheets from lenders in Q3 CY23.
• Significant progress has been made on supplementary studies for associated facilities (Transmission Line, Lower Access Roads and the Indenki resettlement area)/
• A$11.7M cash at bank at 30 June 2023, reduced cash spend of ~A$3M per quarter expected until the Final Investment Decision for Mahenge."

Nouveau Monde Graphite [TSXV:NOU] ( OTCQX:NMGRF ) (NYSE: NMG ) and Mason Graphite [TSXV:LLG] [GR:M01] ( OTCQX:MGPHF )

Nouveau Monde Graphite ("NMG") own the Matawinie Graphite Project, located in the municipality of Saint-Michel-des-Saints, approximately 150 km north of Montreal, Canada. NMG (51%) and Mason Graphite (49%) have agreed to JV (subject to approvals) on the Lac Guéret Project.

No significant news for the month.

You can view the latest investor presentation here .

Greenwing Resources Limited [ASX:GW1] ( BSSMF )

On June 29 Greenwing Resources Limited announced : "Drilling commences at San Jorge Lithium Project, Argentina."

On July 24 Greenwing Resources Limited announced : "Equity raising and maturity of convertible notes." Highlights include:

• "Financial restructure sees Greenwing emerge with no secured debt and approximately A$9.5m in cash to continue its progress both in Argentina and Madagascar.
• Equity Raising completed by way of a placement at $0.225 raising $2.7m.
• Directors' participation in placement of $0.325m.
• Additional $1m debt facility provided by the Company's Chairman Rick Anthon....."

You can view the latest company presentation here .

Triton Minerals [ASX:TON][GR:1TG]

Triton Minerals Ltd. engages in the acquisition, exploration and development of areas that are highly prospective for gold, graphite and other minerals. The company was founded on March 28, 2006 and is headquartered in West Perth, Australia. Triton has two large graphite projects in Mozambique, not far from Syrah Resources Balama project.

On July 11 Triton Minerals announced : "Definitive Feasibility Study update completed." Highlights include:

DFS update completed, results:

• "Reduction of upfront capital expenditure to US$90.3 million (from US$99.1 million).
• Processing plant increased to 1.2 Mtpa (from 1.0mtpa) which is expected to result in increased graphite production rate of approximately 70,000 tonnes of graphite concentrate per annum (from 60,000 tonnes).
• DFS updated outputs have been extensively reviewed by Yantai JinPeng Mining Machinery Co. Ltd (Jinpeng) and Verum Projects and Engineering."

You can view the latest investor presentation here and the latest article on Trend Investing here .

SRG Mining Inc. [TSXV:SRG] [GR:18Y] [Formerly SRG Graphite Inc.]

SRG is focused on developing the Lola graphite deposit, which is located in the Republic of Guinea, West Africa. The Lola Graphite occurrence has a prospective surface outline of 3.22 km2 of continuous graphitic gneiss, one of the largest graphitic surface areas in the world. SRG owns 100% of the Lola Graphite Project.

On July 10 SRG Mining Inc. announced : "SRG and C-ONE sign strategic cooperation and investment agreement." Highlights include:

• "C-ONE to acquire 19.4% stake in SRG.
• SRG and C-ONE to sign Anode Material Alliance to jointly develop large-scale anode material facility and become the largest anode material supplier outside of China.
• C-ONE to assist SRG with development and construction of Lola Graphite Project through Technical Cooperation Agreement."

On July 26 SRG Mining Inc. announced :

SRG and C-ONE transaction update.....Under terms of a subscription agreement between the Company and C-ONE, SRG will issue 28,222,380 common shares to C-ONE (or its designated affiliate) through a private placement at a price of C$0.60 per share. The subscription amount is approximately C$16.9 million (US$12.7 million) (the "Subscription Amount"). On closing, C-ONE will come to own 19.4% of SRG's issued and outstanding common shares, establishing C-ONE as one of SRG's largest shareholders.....

You can view the latest investor presentation here .

Leading Edge Materials [TSXV:LEM] ( LEMIF )

Leading Edge Materials Corp. is a Canadian company focused on becoming a sustainable supplier of a range of critical materials. Leading Edge Materials' flagship asset is the Woxna Graphite Project and processing plant in central Sweden. The company also owns the Norra Karr REE project, and the 51% of the Bihor Sud Nickel-Cobalt exploration stage project in Romania.

No news for the month.

Investors can view the latest company presentation here .

Renascor Resources [ASX:RNU]

Renascor Resources Ltd. is an Australian exploration company, which focuses on the discovery and development of economically viable deposits containing uranium, gold, copper, and associated minerals. Its projects include graphite, copper, precious metals, and uranium.

On July 7 Renascor Resources announced : "Drilling extends Siviour Graphite deposit. Drilling confirms continuity of widespread, high-grade graphite extending over 3 kilometres immediately north of Siviour Mineral Resource." Highlights include:

• "Drilling confirms major extension to Siviour Graphite Deposit, with assays demonstrating the continuity of widespread, high-grade graphite over an area extending over 3 kilometres immediately north of the Siviour Mineral Resource.
• Significant intersections include: 47m @ 7.6% Total Graphitic Carbon ((TGC)) from 78m (SIVDD290). 38m @ 6.6% TGC from 91m (SIVDD 294). 26m @ 9.0% TGC from 70m, including 7m @ 14.1% TGC from 79m (SIVDD287). 24m @ 8.7% TGC from 110m, including 12m @ 11.4% TGC from 110m (SIVDD288) and 11m @ 8.7% TGC from 72m and 27m @ 6.5% TGC from 93m (SIVDD276).
• Renascor's 100%-owned Siviour Graphite Deposit in South Australia is currently the world's largest reported Reserve outside of Africa and the second largest Proven Reserve globally.
• Renascor considers the new drilling to offer potential for a significant increase to the Siviour Mineral Resource and to support extensions to the current pit design for future expansions beyond the capacity being currently being considered under the updated, optimised Battery Anode Material Study (BAM Study).
• An updated Mineral Resource estimate is expected later this quarter."

On July 19 Renascor Resources announced : "Strategic Cooperation Agreement with Mitsubishi Chemical. Non-binding MOU for the supply of graphite products and potential commercial partnership." Highlights include:

• ".....Mitsubishi Chemical is Japan's largest chemical corporation and one of the world's largest producers of lithium-ion battery anode materials.
• The MOU provides for the potential purchase by Mitsubishi Chemical of Graphite Concentrates, Purified Spherical Graphite and other graphite products from Renascor's Siviour Graphite and Battery Anode Material Project (BAM Project) in South Australia.
• The MOU further provides a framework for Mitsubishi Chemical to work with Renascor to consider a commercial partnership with Renascor to help facilitate the development of the BAM Project.
• The parties have agreed to undertake further product validation testwork and negotiations to determine potential contract delivery terms and a commercial partnership.
• This MOU compliments Renascor's product offtake workstreams which are well progressed and include a non-binding strategic cooperation and offtake agreement with South Korean conglomerate POSCO."

You can view the latest investor presentation here .

EcoGraf Limited [ASX:EGR] [FSE:FMK] ( ECGFF )

On July 14 EcoGraf Limited announced : "Exercise of Performance Rights."

On July 19 EcoGraf Limited announced :

US patent granted. Technology complies with US Treasury IRA Guidance on new clean vehicle credit criteria.....This is a very important step in the proposed commercialisation of EcoGraf HFfree™ technology, providing protection in the US of the patented methodology until about May 2041. The commercialisation of the technology will also comply with US Treasury IRA guidance on new clean vehicle credit criteria to strengthen critical mineral supply chains.....

You can view the latest investor presentation here .

Lomiko Metals Inc. [TSXV:LMR] ( LMRMF )

Lomiko has two projects in Canada - La Loutre graphite Project (flagship) (100% interest) and the Bourier lithium Project (70% earn in interest).

On July 11 Lomiko Metals Inc. announced : "Lomiko announces update on its regional graphite exploration program in the Grenville region, Quebec." Highlights include:

• "10 new high-grade graphite showings discovered.
• 37 of 57 grab samples greater than 5.00% graphite.
• Maximum value of 22.90% graphite found on Ruisseau block.
• Graphite zones traced up to lengths of 1000 metres on the surface."

On June 24 Lomiko Metals Inc. announced :

Lomiko announces grant from the Consortium de recherche et d'innovation en transformation métallique (CRITM) and National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).....

On July 24 Lomiko Metals Inc. announced : "Lomiko announces an update on the closing of the Flow-Through unit offering....."

Metals Australia [ASX:MLS]

No graphite related news for the month.

NGX Limited (100% owned subsidiary of Sovereign Metals [ASX:SVM] [GR:SVM][LSE:SVML])

On July 17 Sovereign Metals announced : "Rio Tinto to invest $40.4 million and become a 15% strategic investor in Sovereign." Highlights include:

• "Rio Tinto to make an investment of A$40.4 million in Sovereign resulting in an initial 15% shareholding.
• Investment proceeds will be used to advance the Kasiya Rutile-Graphite Project in Malawi......
• Issue of 83,095,592 new Shares of Sovereign to Rio Tinto at a price of A$0.486 per share represents a 10% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023.
• Rio Tinto also issued with 34,549,598 options to increase its shareholding by an additional 4.99% to potentially 19.99% of Sovereign within 12 months.
• Rio Tinto's 34.5 million options have an exercise price of A$0.535 per Share, representing a 21% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023, for additional proceeds of up to $18.5 million (if all options are exercised)."

On July 20 Sovereign Metals announced : "ATO class ruling - NGX demerger."

You can view the latest investor presentation here .

Sarytogan Graphite [ASX:SGA]

Sarytogan Graphite has an Indicated and Inferred Mineral Resource of 229Mt @ 28.9% TGC in Central Kazakhstan.

For further details see:

Graphite Miners News For The Month Of July 2023