That’s an interesting perspective. I agree there are logistical and cost considerations that make sourcing graphite locally in the US more practical if the main production plant is built there. Tariffs, import taxes, and transportation costs from Australia could indeed make McIntosh graphite less competitive for a US-based operation. That said, Clinton seemed quite determined to push for commercialization in Australia, and it aligns with their focus on developing local resources like McIntosh. However, as others have noted, there’s been talk about a potential US listing, which could signal a broader strategy.
If their ambitions include a significant presence in the US market, they might shift toward sourcing materials locally to support that. I suppose the direction they take will depend on where they see the strongest long-term opportunities—either aligning with Australian clients or leveraging a US presence to tap into their market. Time will tell, but it’ll be interesting to see how this unfolds.
What I think is most likely is that GCM is hedging their bets. They’ll keep McIntosh in play for strategic or future opportunities, but the primary focus may shift to whatever aligns best with their production and client base—whether that’s in Australia, the US, or both.
GCM Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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