I'm still cranky that International Graphite agreed to Comet Resources disposing of 7.2m of its IG6 shares after them carrying out a SPP on the basis that they would not allow Comet to do that in the foreseeable future. As I said in my rant on the other thread: I am weighing my options as in is it better to cut my losses now and walk away or do I persist with International Graphite, even with the risk of Comet's IG6 share overhang putting a lid on any IG6 share price gains.
Anyway, on to the so-called feasibility study update that was supposed to be the guts of the announcement. It actually had nothing new to say about the feasibility study. After you read about the bit about the Comet shenanigans, on page 3, you realise that the first two pages in the announcement are just padding to lessen the impact coming to you on page 3.
Actually there is one bit of new stuff, which is where they say that "Critically, flake size distributions produced are suitable for bothadvanced battery anode materials and other industrial applications". Really?? I thought the company line was that Springdale graphite was only suitable for battery materials. First time I can recall them saying that they might be able to sell the product into different sectors. Hopefully that is not them saying that not all of their product will be suitable for use in batteries (I know there will be some by-products from the downstream processing but this seems to be saying that some of the untreated graphite flakes are not suitable for use in batteries).
Also, this might be of interest: I listened to a presentation by Nouveau Monde Graphite given on 12 June. NMG is a big well advanced graphite developer whose project is in Quebec. Sort of relevant to International Graphite because they seemed to have followed the same path IG6 is intending to follow in that they developed demonstration plants to prove to potential customers what their product is like. Seems to have worked for NMG because they have signed up both GM and Panasonic with long-term supply contracts and with promises of additional funding once the Final Investment Decision is made. Only catch is that the process they followed took them from 2017 to 2023 to get the offtakers to sign up. It seems that NMG are about to move towards making their FID so things might be looking up for their shareholders.
Nouveau Monde Graphite Inc. – TSX-V: NOU; NYSE: NMG ~ 2:47:24
https://www.you tube.com/watch?v=UXqSPxBZ-TM (remove the space between you and tube to get the link to work)
IG6 Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
