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Northern Graphite Corporation

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Box 279
Manotick, Ontario
Canada K4M 1K7
Tel No.: (613) 241-9959
Web Site: www.northerngraphite.com
E-mail: jeastman@northerngraphite.com
Contact Person: Janet Eastman
Position: Investor Relations


Company Data

Traded Market: TSX-V | OTC | FRA | XSTU
Traded Symbol: NGC | NGPHF | ONG | ONG
Outstanding Shares: ~119.36 million
52 Week High: $ 0.94
52 Week Low: $ 0.43
Present Price: Click Here


Introduction

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Northern is a Canadian, TSXV listed company focused on becoming a world leader in producing natural graphite and upgrading it into high-value products critical to the green economy, including anode material for lithium-ion batteries (“LiBs”), electric vehicles, fuel cells and graphene, as well as advanced industrial technologies.

Northern is the only significant graphite producing company in North America and will become the third largest outside of China when its Namibian operations come back on line in the first half of 2023. The Company also has two large-scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that will be a source of continued production growth in the future. All projects have battery-quality graphite and are located close to infrastructure in politically stable countries.


PROJECT PORTFOLIO

Lac des Iles (LDI) Graphite Mine, Quebec

  • The Lac des Iles mine has been in operation for over 20 years and is the only operating graphite mine in North America
  • Fully permitted mine and tailings facility
  • Currently producing 15,000 tpy of graphite concentrate
  • Northern has completed the exercise of its option to acquire a 100-per-cent interest in the Mousseau West graphite deposit to increase LDI production and extend its mine life
  • Plan to increase production to 25,000 tpy of graphite concentrate

Okanjande/Okorusu Operation in Namibia

  • Okanjande/Okorusu plant being upgraded
  • Okorusu, a fully operational, permitted production facility in Namibia
  • The Okanjande/Okorusu operation in Namibia is scheduled to be back in production at a rate of 30,000 tpy within 12 months
  • Okanjande graphite is high quality
  • The Okanjande deposit has substantial measured and indicated resources and the Company is planning on building a new 100,000-150,000 tpy processing plant
  • Namibia is one of the best jurisdictions in Africa, there is access to grid power and Okanjande is close to main deep water port which provides a competitive advantage over other African projects

Bissett Creek Graphite Project, Ontario, Canada

  • Bissett Creek is the world’s highest margin project
    • An independent study estimates that Bissett Creek will have the highest margin of any existing or proposed graphite deposit due to its very favourable location, simple metallurgy and the high quality of its concentrates which will provide a competitive advantage in manufacturing products for the green economy.
  • Bissett Creek is an advanced stage project with a Feasibility Study completed, permit well advanced
  • The Project is located in the southern part of Ontario, Canada between the cities of North Bay and Ottawa and close to the Trans-Canada highway providing ready access to labor, supplies, infrastructure, equipment, natural gas and markets.
  • Initial production 40,000 tpy, expand to 100,000 tpy as market grows
  • No local/First Nation opposition

Graphite – The New Strategic Mineral

  • China controls 70-80% of world graphite supply and western alternative sources are needed.
  • China makes almost 100% of the graphite anode material for lithium-ion batteries/EVs
  • Both the EU and USA have named graphite a supply critical mineral.
  • Graphite production must more than double over the next five years based on announced investments by lithium-ion battery (LiB) and automobile manufacturers.

Investment Highlights

  • The US and EU have declared graphite a critical mineral
  • Graphite is used in EVs, batteries and fuel cells; Most comes from China
  • Northern owns the only North American mine
  • Northern is becoming the 3rd largest non Chinese producer
  • The Company has two large scale development projects
  • Bissett Creek, Ontario is the world’s highest margin project
  • Okanjande, Namibia has 150,000 tpy potential
  • All deposits have battery quality graphite
  • All deposits are close to infrastructure in stable countries
  • Northern intends to manufacture battery anode material
  • Northern has an option agreement to earn up to an 80 per cent interest in the South Okak Ni/Cu/Co property
  • Northern has completed the exercise of its option to acquire a 100-per-cent interest in the Mousseau West graphite deposit to increase Lac des Iles (LDI) production and extend its mine life
  • Northern acquired the natural graphite division of Imerys SA, a €4 billion company listed on the Paris Exchange. Imerys operates over 100 mines in 30 countries.


Management

Management and Directors

Gregory Bowes, Honours B.Sc. (Geology), MBA, Executive Chairman and Director

Mr. Bowes has over 30 years of experience in the resource and engineering industries. As CEO he led Northern Graphite for over 13 years. Mr. Bowes was Senior Vice President of Orezone Gold Corporation. He served as President, CEO and a director of San Anton Resource Corporation.

Hugues Jacquemin, Chief Executive Officer

Mr. Jacquemin has over 30 years experience in Specialty Materials with Fortune 500 companies including graphite, carbon, battery materials, fuel cells, synthetic graphite and graphene. He was CEO of Imerys Graphite and Carbon Division,

David Marsh, B.Sc., Chief Operating Officer

Mr. Marsh has worked in the mining industry for over 40 years and has extensive experience developing new mining projects. He was COO of Avalon Advanced Materials, General Manager Project Development of Paladin Energy, Manager Process & Engineering of GRD Minproc.

Guillaume Jacq, MBA, Chief Financial Officer

Mr. Jacq has 20 years of international finance experience. His extensive experience includes more than ten years in various business & corporate finance roles, as well as internal audit functions at Imerys SA in France, Austria and Switzerland.

Nathalie Pilon, CPA, CMA, Director of Finance & Administration

Ms. Pilon was CFO of EnviroMetals Technology, Director of Finance of Orezone Gold, Compliance & Internal Controls Manager of Roxgold Inc.

Marco Zvanik, B.Sc., Vice President of Global Sales

Mr. Zvanik has 35 years of sales, management and operational experience in the composite material, carbon fibre, nanomaterial and wind energy manufacturing industries.

Campbell Birge, B.A., B.Ed., M.Sc., Director

Mr. Birge has over 20 years of experience advising public and private companies specializing in the resource, real estate and cannabis industries in Canada, the United States and Mexico.

Donald H. Christie, CA, Director

Mr. Christie is the President, CEO and a Director of Rockcliff Metals Corporation, the CFO and a Director of Nevada Zinc Corporation and a Director of Digihost Technology Inc.

Iain Scarr, B.Sc. (Geology), MBA, Director

Mr. Scarr is Chief Operating Officer and Vice President, Development & Exploration for Millennial Lithium Corp. He is founder and principal of IMEx Consulting.

K. Sethu Raman, Ph.D, Director

Dr. Raman has more than 46 years of international experience in all phases of exploration, mine development, acquisitions and operations as well as experience in related financial and legal areas.


News Update

On October 20, 2022, Northern Graphite Corporation announced that two new management appointments that enhance the company's global team as it executes on its goal of becoming the third largest graphite producer outside of China. Mr. Sam Januarie has been appointed Vice President, Human Resources ("V.P. HR") of the Company, bringing 27 years of Executive Human Resources Management experience to the team. Mr. Serge Theberge, who has more than 35 years of global experience as a mining professional, has been named Vice President, Projects ("V.P., Projects").

On October 12, 2022, the TSX Venture Exchange has accepted for filing documentation relating to an option agreement and a subsequent amending agreement dated Feb. 21, 2022, and Aug. 19, 2022, respectively, between Northern Graphite Corp. and several arm's-length parties. Pursuant to the agreement, the company has acquired a 100-per-cent interest in 12 mining claims on the Mousseau West graphite project, located in Quebec.

On October 5, 2022, Northern Graphite Corp. announced that it has completed the exercise of its option to acquire a 100-per-cent interest in the Mousseau West graphite project through the payment of $500,000 in cash and the issuance of 900,000 common shares of the Company to the owners of the property. Northern also has the right to acquire a 2-per-cent net smelter royalty retained by the owners at any time upon the payment of $1-million.

On September 19, 2022, Northern Graphite Corp. announced that it has appointed Guillaume Jacq (MBA) as chief financial officer (CFO) of the Company, bringing 20 years of international finance experience to the team.

On August 30, 2022, Northern Graphite Corp. announced the Company’s Interim Financial Statements and Management’s Discussion and Analysis for the three and six month periods ended June 30, 2022 have been filed on SEDAR and are available under the Company’s profile. Highlights for the second quarter which only include two months of operation at the Lac des Iles graphite mine (“LDI”) following its acquisition at the end of April 2022 include:

  • 38,500 tonnes of ore and low grade stockpile with an average grade of 6.6% processed in May and June
  • 2,523 tonnes of graphite concentrate produced with a recovery of 89.7%
  • Concentrate purity averaged 96% and flake size distribution was 37% +80 mesh, 19% -80 by +150 mesh and 44% -150 mesh
  • Revenue of $3.7 million generated based on 1,773 tonnes sold at an average price of $2,083/tonne (USD$1,623/tonne)
  • Cash costs were $1,276 (USD$994) per tonne of graphite concentrate
  • Income from mine operations was $1.3 million
  • An operating loss of $1.5 million was recorded which includes general & administrative expenses and project evaluation, acquisition and integration costs
  • Cash and restricted cash and equivalents of $17.7 million as at June 30, 2022
  • Working capital of $29.4 million as at June 30, 2022
  • Total assets of $105.7 million as at June 30, 2022

“Release of our second quarter results is another important milestone in Northern’s transformation from a development stage company to a producer with revenues, a positive mine operating profit and a strong cash position,” commented Hugues Jacquemin, CEO. “Becoming the only significant producer of graphite in North America is a good start and we intend to aggressively build on that position through continued production growth, acquisitions and downstream investments.”

On August 8, 2022, Northern Graphite Corp. announced that it intends to exercise its option to acquire a 100-per-cent interest in the Mousseau West graphite project which is located approximately 80 km from and within economic trucking distance of the Company's producing Lac des Iles (LDI) graphite mine in Quebec.


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