Latest news with #NMG
Yahoo
a day ago
- Business
- Yahoo
NMG receives LOIs for more than C$1bn in project debt financing
Nouveau Monde Graphite (NMG) has received letters of interest (LOIs) for more than C$1bn ($731.3m) in project debt financing to fund the company's phase-two Matawinie Mine and Bécancour Battery Material Plant in Québec, Canada. The financing structure is expected to include contributions from syndicate institutional funds and export credit agencies. The company's updated feasibility study, released earlier this year, confirmed the technical and economic viability of its integrated graphite projects, boasting an after-tax internal rate of return of 17.5% and a net present value of C$1.05bn. With this foundation, NMG is moving towards a final investment decision (FID) for phase two of its operations. Export Development Canada (EDC) has expressed interest in providing up to C$430m. The Export–Import Bank of the United States has also issued an LOI for $172m under its Supply Chain Resiliency Initiative (SCRI). The SCRI is designed to diversify US supply chains, reduce dependency on China, and bolster US national and economic security while creating US jobs. Additionally, more than $481m in potential support has been indicated by undisclosed parties. While details remain confidential, these discussions underscore the strategic and economic importance of NMG's project. NMG founder, president and CEO Eric Desaulniers said: 'We have been extremely busy in the past weeks to present the results of our Updated Feasibility Study and engage with our financial stakeholders to advance our project financing. Feedback has been positive as demonstrated by the quality of lenders rallying behind our business plan. 'Economies around the world are seeking opportunities to relocate and secure critical minerals mining and processing to enable local manufacturing, economic resilience, energy autonomy and national security.' NMG is actively engaging with various governmental bodies and public institutions to finalise the overall debt funding package. The anticipated debt structure is in line with NMG's financing projections and contemplates long-term debt or guarantees with a maturity beyond ten years. The non-binding LOIs are a precursor to finalising a term sheet and are part of a broader financing strategy that includes equity financing and fulfilling conditions precedent. While negotiations continue, there is no certainty that final agreements will be reached or that funding will be secured. Specialised advisory firms are conducting due diligence to assess corporate, technical, market and environmental, social and governance aspects of the phase-two operations. The results of this due diligence will inform the structuring of legal documentation and the project debt package before the investment committee reviews. NMG is also preparing for an FID by advancing technical documentation, negotiating supplier contracts and preparing for construction tenders. In December last year, NMG received $50m in equity investment from the Canada Growth Fund and the Government of Québec, through Investissement Québec, to support its graphite operations. "NMG receives LOIs for more than C$1bn in project debt financing" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
3 days ago
- Business
- National Post
NMG Receives Over US$1 Billion in Letters of Interest for its Project Debt Financing
Article content Letters of interest obtained thus far for a total of US$1 billion toward NMG's Phase-2 project financing with ongoing solicitation of interest Targeted capital providers include Export Development Canada, Canada Infrastructure Bank, Export–Import Bank of the United States, and various governmental bodies, public institutions, and export credit agencies Related due diligence exercises well advanced in preparation for debt providers investment committee reviews with a view to reach FID NMG's fully integrated Phase-2 graphite projects cater to current North American efforts to develop local and reliable supply chains for the battery and EV sector Article content MONTRÉAL — Nouveau Monde Graphite Inc. ('NMG' or the 'Company') ( NYSE: NMG, TSX: NOU) is firming up its project debt financing structure with the intended participation of syndicate institutional funds and export credit agencies for over US$1 billion toward the Company's Phase-2 Matawinie Mine and Bécancour Battery Material Plant. NMG released earlier this year the NI 43-101 Updated Technical Feasibility Study Report for the Matawinie Mine and Bécancour Battery Material Plant Integrated Graphite Projects (the 'Updated Feasibility Study') which confirmed the technical and economic viability of the Company's projected integrated production of natural graphite and active anode material within a 150-km radius of Montréal, Québec, Canada, with an after-tax internal rate of return ('IRR') of 17.5% and net present value ('NPV') of US$1,053 million. NMG has since entered its project financing stage to bring its Phase 2 to a final investment decision ('FID'). Article content Eric Desaulniers, Founder, President, and CEO of NMG, declared: 'We have been extremely busy in the past weeks to present the results of our Updated Feasibility Study and engage with our financial stakeholders to advance our project financing. Feedback has been positive as demonstrated by the quality of lenders rallying behind our business plan. Economies around the world are seeking opportunities to relocate and secure critical minerals mining and processing to enable local manufacturing, economic resilience, energy autonomy, and national security.' Financing Update NMG has now received letters of interest from targeted capital providers totaling over US$1 billion in potential debt financing support. This milestone provides a foundation for NMG Phase-2 project financing and further solidifies the Company's path toward FID. These letters of interest include: Article content US$430 million from Export Development Canada ('EDC'), Canada's export credit agency that specializes in providing financing solutions to support Canadian exporters in global markets with a special focus on sustainable, responsible and inclusive trade. EDC facilitated over US$7.6 billion in business activities supporting customers in the mining and metals sector in 2024, reinforcing its ongoing commitment to Canada's critical minerals strategy and global resource leadership. US$172 million from Export–Import Bank of the United States ('EXIM'), the official export credit agency of the United States, who issued a letter of interest to NMG in support of securing access to critical minerals via a potential financing under EXIM's Supply Chain Resiliency Initiative ('SCRI'). The SCRI aims to diversify and strengthen U.S. supply chains, reduce dependency on the People's Republic of China, and strengthen U.S. national and economic security, while protecting and creating American jobs. Over US$481 million from undisclosed parties. While specific terms remain confidential at this stage, these discussions reflect interest in the project's strategic and economic significance. Article content The Company is advancing discussions with these various governmental bodies, public institutions, and export credit agencies to support the overall debt funding package. Article content The senior debt amount aligns with NMG's financing projections, consistent with the anticipated debt-to-equity ratio for the project. Debt providers are contemplating long-term debt or guarantees with a maturity beyond 10 years, with no capital repayment during the construction period. The received letters of interest were provided to the Company by various parties and are non-binding; they express an interest and intent to work towards completing a final term sheet. Project financing also relies on the successful completion of equity financing with strategic investors as well as the completion of outstanding conditions precedent, including an updated project timeline, necessary to secure the purchase obligations under the offtake agreements with the anchor customers. While discussions between the various parties are ongoing, there is no guarantee or assurance that final agreements will be reached and/or funding will be provided to the Company. Article content Path to FID Article content The due diligence processes are progressing, supported by specialized advisory firms, which are proceeding concurrently to assess the corporate, technical, market, and ESG components of NMG's planned Phase-2 operations and to guide financial stakeholders' risk assessment. The due diligence outcomes will feed into the structuring of legal documentation and a project debt package ahead of investment committee reviews. Article content NMG is also advancing the project development of technical documentation in preparation for FID through engineering work, negotiation of contracts with key suppliers, preparation of call for tenders for construction, and value engineering, all with the objective of enabling an efficient execution upon financing close. Article content About Nouveau Monde Graphite Article content Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With recognized ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing advanced materials while promoting sustainability and supply chain traceability. Subscribe to our news feed: Cautionary Note Regarding Forward-Looking Information This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation (collectively, 'forward-looking statements'), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management's expectations and assumptions regarding the Company's growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to, the Company's ability to secure its project financing and to secure a positive FID, including to complete the term sheet and finalize the legal documentation, to execute contracts with key suppliers and construction contractors, to complete the detailed engineering, to develop a fully integrated ore-to-battery-material source of graphite-based active anode material in the Province of Québec, the completion of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant, , and the expected results of the initiatives described in this press release, and those statements which are discussed under the 'About Nouveau Monde' paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant, the Company's ability to satisfy the due diligence processes of the stakeholders, and are not guarantees of future performance. Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, availability financing or financing on favorable terms for the Company, delays in the reaching FID, , and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 31, 2025, including in the section thereof captioned 'Risk Factors', which is available on SEDAR+ at and on EDGAR at Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. Further information regarding the Company is available in the SEDAR+ database ( and for United States readers on EDGAR ( and on the Company's website at: . Article content Article content Article content Contacts Article content MEDIA Article content Julie Paquet VP Communications & ESG Strategy +1-450-757-8905 #140 jpaquet@ INVESTORS
National Post
15-05-2025
- Business
- National Post
NMG Provides an Update on its Development Plan, Publishes its 2024 ESG Report and Announces New Board Nominees ahead of its Annual General and Special Meeting of Shareholders
Article content Issuance of the Updated Feasibility Study that reflects advancement in engineering, project design, and updated financial parameters. Active work on the financing stage via presentation of the Updated Feasibility Study to financial stakeholders and on due diligence workstreams to bring the Phase-2 Matawinie Mine and the Bécancour Battery Material Plant to FID. Engineering underway for the Phase-2 Bécancour Battery Material Plant with the assistance of specialized Asian firms with expertise in the graphite and anode material industry. Continued advancement of procurement and construction preparation for the Phase-2 Matawinie Mine and Bécancour Battery Material Plant in anticipation of FID. Decommissioning of the Phase-1 Purification Demonstration Plant facility in Bécancour initiated in light of technology change. Issuance of the Company's 2024 ESG Report demonstrating stewardship and leadership in the Company's management of material issues and performance on ESG metrics. Twelve-month rolling TRIFR rate of 1.77 at the Company's facilities (severity rate at 2.65); and no major environmental incidents. Period-end cash position of $89 million. Geopolitical tensions between the U.S. and China exacerbate the need for alternative natural graphite sources (Fastmarkets, April 2025). NMG's Annual General and Special Meeting of Shareholders scheduled for June 17, 2025, via webcast. New nominees for the election of Directors include Paola Farnesi, a senior financial professional and executive, as well as Édith Jacques, a seasoned lawyer specialized in M&A, commercial law, and international law. Article content Article content MONTRÉAL — Following the issuance of the NI 43-101 Updated Technical Feasibility Study Report for the Matawinie Mine and Bécancour Battery Material Plant Integrated Graphite Projects (the 'Updated Feasibility Study'), Nouveau Monde Graphite Inc. ('NMG' or the 'Company') ( NYSE: NMG, TSX: NOU) is advancing its Phase-2 commercial plans with progressing work on the project financing, engineering, procurement and construction preparation. The Company also files its 2024 ESG Report that demonstrates continued stewardship of environmental, social and governance ('ESG') issues aligned with global decarbonization efforts and international standards as required by lenders, investors, and customers. Article content Arne H Frandsen, Chair of NMG, said: 'NMG is cleverly navigating the shifting global market, while steadfastly maintaining its ESG commitments. Our business model, rooted in the clean energy transition, strives to capitalize on Western economies' growing appetite for critical minerals, local and ESG-compliant supply chains, as well as reshoring manufacturing capacity. Our commercial agreements with Panasonic Energy and General Motors along with strong interest from strategic lenders and institutional investors strengthen our plans to develop a responsible and carbon-neutral source of active anode material, positioning NMG as a sustainable and innovative supplier for long-term growth.' Article content Eric Desaulniers, Founder, President, and CEO of NMG, declared: 'Consumer demand for electric vehicles ('EV') is undisputable and catalyzes the battery value chain, a strong driver for active anode material. Facing steep tariffs and tightening supplies, manufacturers are seeking alternatives to Chinese active anode material. NMG's ore-to-battery-material Phase-2 Matawinie Mine and Bécancour Battery Material Plant are timely set to enter market, offering simplified trade corridors, ESG compliance, reliability, and a scalable source.' Article content On the heels of the Updated Feasibility Study, NMG is actively advancing the project development in preparation for the final investment decision ('FID') through engineering, negotiation of contracts with key suppliers, preparation of call for tenders for construction, value engineering and schedule optimization. Article content Engineering for both the Matawinie Mine and Bécancour Battery Material Plant is progressing thanks to engagement with equipment vendors, specialized firms, and technological advancement. NMG is namely working on the purification process to refine environmental performance, operational, and financial parameters leveraging data from test results and sampling production at partnering facilities. The Company has enlisted specialized Asian firms with expertise in the graphite and anode material industry to support technical development. Article content In parallel, NMG has presented the Updated Feasibility Study results to its Anchor Customers, potential lenders, and targeted institutional equity investors as part of the financing stage. To date, the Company has received cumulative expressions of approximately $1.6 billion and identified a potential for securing approximately $450 million through the new refundable Canadian Investment Tax Credit for Clean Technology Manufacturing. Article content Numerous advanced stage due diligence exercises, supported by specialized firms, are proceeding concurrently to examine the corporate, technical, market, and ESG components of NMG's planned Phase-2 operations and guide financial stakeholders' risk assessment. Article content As the Company continues to advance its Phase-2 project financing and future commercial operations, NMG continues to strengthen its intendance of material ESG issues aligning with internationally recognized practices endorsed by potential lenders, institutional investors, and customers. In addition to its proactive climate action, significant milestones this year include the addition of scenario analysis to the Company's climate risk management, the signature of an impact and benefit agreement with the Atikamekw First Nation of Manawan, the expansion biodiversity efforts, a notable improvement in the Company's CDP climate score, and strengthened community and Indigenous engagement. This performance, combined with a demonstrated governance framework and a focus on responsible business practices, position NMG as a leader in sustainable graphite production (Benchmark Mineral Intelligence, March 2025). NMG's 2024 ESG Report can be consulted on the Company's website. Article content The Company is committed to the safe and responsible conduct of operations. For the twelve-month rolling period ended March 31, 2025, NMG reported a total recordable injury frequency rate ('TRIFR') of 1.77 and severity rate of 2.65 at the Company's facilities. In 2024, NMG maintained its track record with no major environmental incidents. Article content To mark the Company's uplisting to the Toronto Stock Exchange, NMG's leadership took advantage of an investor and financing tour to open the market on April 24, 2025. Article content Considering the change of technology and upcoming lease expiry for the industrial space in Olin's facility in Bécancour, NMG has initiated the decommissioning of its Phase-1 Purification Plant. The remaining of the Phase-1 operations located in Saint-Michel-des-Saints are operating as usual for the foreseeable future to continue producing flake concentrate from the Matawinie deposit, as well as preparing and testing large-scale qualifying active anode material samples for actual and potential tier-1 customers. Article content At the end of the period, the Company had a cash position of $89 million. Article content Market Perspectives Article content The graphite and battery sectors are undergoing rapid transformation, driven by the adoption of EVs and energy storage systems ('ESS'). During the period, global EV sales went up 29% compared to the same period last year, with Europe bouncing back at +22% and North America at +16% (Benchmark Mineral Intelligence, April 2025). The global ESS market grew 65% year-over-year (Rho Motion, April 2025). Article content This growth reverberates upstream in battery manufacturing. The lithium-ion battery production pipeline is now estimated to reach 9,300 GWh by 2030, with Europe driving the highest demand after China (Benchmark Mineral Intelligence, April 2025). NMG's Anchor Customer GM announced that its EV battery production has now surpassed that of Tesla in the U.S. (Bloomberg, April 2025). Article content While market growth presents significant opportunities, supply chain vulnerabilities and geopolitical tensions pose challenges, particularly for North America. Efforts are underway to diversify and localize production considering the region remains heavily reliant on imports; the U.S. was 100% dependent on foreign graphite to meet its demand in 2024 (Benchmark Mineral Intelligence, April 2025). Article content North America faces challenges in establishing a domestic graphite supply chain; the U.S. International Trade Commission is investigating trade activities following a petition from the American Active Anode Material Producers seeking antidumping and countervailing duties on Chinese imports (Bloomberg, January 2025). Article content Moreover, tension and reciprocal measures escalated between the U.S. and China during the period. U.S. manufacturers face steep tariffs on Chinese graphite and anode material. Analysts predict a positive shift toward ex-China natural graphite anode materials as a result (Fastmarkets, April 2025). Article content Amid the global graphite market unprecedented turbulence, U.S. executive orders and policies, including the Export-Import Bank of the United States' ('EXIM') Supply Chain Resiliency Initiative that enables the financing of international projects with offtake critical minerals agreements with U.S. companies, emphasize the importance and urgency of securing the raw materials needed for energy applications and national security. Article content NMG will hold its annual general and special meeting of shareholders (the 'Meeting') on Tuesday, June 17, 2025, at 10 a.m. (Eastern Time) via live webcast at NMG is holding the Meeting as a completely virtual meeting, which all shareholders, regardless of geographic location, will have an equal opportunity to attend. Items on the agenda include (a) the presentation of the Company's consolidated audited financial statements for the fiscal years ended December 31, 2024, and 2023, and the independent auditor's report thereon; (b) the election of directors named in the management information circular; (c) the appointment of the external auditor; (d) the ratification and confirmation of the Company's omnibus plan, and (e) the approval of the 1,922,500 stock options granted to directors, officers and employees of the Company approved by the Board of Directors on April 1, 2025 which will be subject to the omnibus plan of the Corporation. Registered shareholders and duly appointed proxyholders are encouraged to vote their shares in advance of the Meeting. Article content Directors Arne H Frandsen, James Scarlett and Andrew Willis indicated that they will not stand for re-election. The Board of Directors and the Company wish to wholeheartedly express gratitude for their dedicated service and contribution during their tenure. Article content Eric Desaulniers, Founder, President, and CEO of NMG, added: 'On my behalf and that of our employees, directors and shareholders, I want to thank Arne, James and Andrew for their service to the development and governance of NMG. We have gained tremendously from their guidance and insight, to help position the Company in a bustling sector, rally strategic investors and establish commercial agreements with our Anchor Customers. Thank you!' Article content The Board of Directors proposes two new candidates as nominees for directorship, namely Paola Farnesi and Édith Jacques, in complement to directors who stand for re-election: Daniel Buron, Eric Desaulniers, Stéphane Leblanc, Nathalie Pilon, and Chantal Sorel. Article content Paola Farnesi is a senior financial professional with over 30 years of experience in corporate finance, financial reporting, mergers and acquisitions ('M&A') and risk management. She is currently Vice-President and Treasurer of Domtar Corporation, after having held several leadership positions at Domtar Corporation and having worked at Ernst & Young. Article content Édith Jacques is a partner and Chair of the Board at Lavery Lawyers in Montréal, specializing in mergers and acquisitions, commercial, and international law. She advises mid- and large-sized companies on strategic business matters, including domestic and cross-border transactions, and is recognized for her pragmatic approach and leadership in the manufacturing and energy sectors. Article content The meeting will be complemented with a corporate presentation by Founder, President and CEO Eric Desaulniers providing an update on the Company's key projects, commercial engagement, and growth plan. Article content Shareholders entitled to vote at the meeting will be those who are shareholders as at the close of business on the record date, being May 2, 2025. Electronic copies of the notice of meeting, the management information circular, the proxy form, the voting instruction form and the financial statements are or will be available, as the case may be, on the Company's SEDAR+ and EDGAR profile, NMG's website and at The Company's financial reports, 2024 Annual Report and 2024 ESG Report are also posted online on NMG's website for ease of consultation. Article content Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With recognized ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing advanced materials while promoting sustainability and supply chain traceability. Article content This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation (collectively, 'forward-looking statements'), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management's expectations and assumptions regarding the Company's growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to, the Company's ability to fulfill the conditions precedent of the offtake agreements, the Company's ability to secure a positive FID, to develop a fully integrated ore-to-battery-material source of graphite-based active anode material in the Province of Québec, to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, to provide performing and reliable advanced materials while promoting sustainability and supply chain traceability, and to position its integrated graphite operation in capital markets, the completion of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant, the assistance of specialized Asian firms with expertise in the industry to support the technical development, the continuity of the market conditions and geopolitical dynamics create a favorable landscape for our transition to commercial operations, the Western economies' growing appetite for critical minerals, and the Company's ability to capitalize on such growing appetite and to capitalize on governments' efforts to reshore manufacturing, secure the critical minerals needed, and reduce dependencies on competing economies, the execution of agreements with First Nations, communities and key stakeholders on favorable terms for the Company, the implementation of the agreement with the Atikamekw of Manawan, the Company's future role in supporting North America's efforts to reshore critical mineral production, reducing dependency on foreign supply chains and strengthening the continent's energy transition, the continuity of the clean energy transition, the increased demand for battery production, the expected results of the initiatives described in this press release, and those statements which are discussed under the 'About Nouveau Monde' paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives. Article content Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant, the Company's ability to provide high-performing and reliable advanced materials while promoting sustainability and supply chain traceability, the consumers demand for components in lithium-ion batteries for EVs and energy storage solutions, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for graphite concentrate, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favorable terms, sustained labor stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, the various tax assumptions, CAPEX and OPEX estimates, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment , and are not guarantees of future performance. Article content Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments' responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 31, 2025, including in the section thereof captioned 'Risk Factors', which is available on SEDAR+ at and on EDGAR at Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements. Article content Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. Article content Article content Article content Article content Article content Contacts Article content MEDIA Julie Paquet VP Communications & ESG Strategy +1-450-757-8905 #140 jpaquet@ Article content Article content Article content
Business Wire
15-05-2025
- Business
- Business Wire
NMG Provides an Update on its Development Plan, Publishes its 2024 ESG Report and Announces New Board Nominees ahead of its Annual General and Special Meeting of Shareholders
MONTRÉAL--(BUSINESS WIRE)--Following the issuance of the NI 43-101 Updated Technical Feasibility Study Report for the Matawinie Mine and Bécancour Battery Material Plant Integrated Graphite Projects (the 'Updated Feasibility Study'), Nouveau Monde Graphite Inc. ('NMG' or the 'Company') (NYSE: NMG, TSX: NOU) is advancing its Phase-2 commercial plans with progressing work on the project financing, engineering, procurement and construction preparation. The Company also files its 2024 ESG Report that demonstrates continued stewardship of environmental, social and governance ('ESG') issues aligned with global decarbonization efforts and international standards as required by lenders, investors, and customers. Arne H Frandsen, Chair of NMG, said: 'NMG is cleverly navigating the shifting global market, while steadfastly maintaining its ESG commitments. Our business model, rooted in the clean energy transition, strives to capitalize on Western economies' growing appetite for critical minerals, local and ESG-compliant supply chains, as well as reshoring manufacturing capacity. Our commercial agreements with Panasonic Energy and General Motors along with strong interest from strategic lenders and institutional investors strengthen our plans to develop a responsible and carbon-neutral source of active anode material, positioning NMG as a sustainable and innovative supplier for long-term growth.' Eric Desaulniers, Founder, President, and CEO of NMG, declared: 'Consumer demand for electric vehicles ('EV') is undisputable and catalyzes the battery value chain, a strong driver for active anode material. Facing steep tariffs and tightening supplies, manufacturers are seeking alternatives to Chinese active anode material. NMG's ore-to-battery-material Phase-2 Matawinie Mine and Bécancour Battery Material Plant are timely set to enter market, offering simplified trade corridors, ESG compliance, reliability, and a scalable source.' Technical Development & Execution Strategy On the heels of the Updated Feasibility Study, NMG is actively advancing the project development in preparation for the final investment decision ('FID') through engineering, negotiation of contracts with key suppliers, preparation of call for tenders for construction, value engineering and schedule optimization. Engineering for both the Matawinie Mine and Bécancour Battery Material Plant is progressing thanks to engagement with equipment vendors, specialized firms, and technological advancement. NMG is namely working on the purification process to refine environmental performance, operational, and financial parameters leveraging data from test results and sampling production at partnering facilities. The Company has enlisted specialized Asian firms with expertise in the graphite and anode material industry to support technical development. In parallel, NMG has presented the Updated Feasibility Study results to its Anchor Customers, potential lenders, and targeted institutional equity investors as part of the financing stage. To date, the Company has received cumulative expressions of approximately $1.6 billion and identified a potential for securing approximately $450 million through the new refundable Canadian Investment Tax Credit for Clean Technology Manufacturing. Numerous advanced stage due diligence exercises, supported by specialized firms, are proceeding concurrently to examine the corporate, technical, market, and ESG components of NMG's planned Phase-2 operations and guide financial stakeholders' risk assessment. ESG & Corporate Matters As the Company continues to advance its Phase-2 project financing and future commercial operations, NMG continues to strengthen its intendance of material ESG issues aligning with internationally recognized practices endorsed by potential lenders, institutional investors, and customers. In addition to its proactive climate action, significant milestones this year include the addition of scenario analysis to the Company's climate risk management, the signature of an impact and benefit agreement with the Atikamekw First Nation of Manawan, the expansion biodiversity efforts, a notable improvement in the Company's CDP climate score, and strengthened community and Indigenous engagement. This performance, combined with a demonstrated governance framework and a focus on responsible business practices, position NMG as a leader in sustainable graphite production (Benchmark Mineral Intelligence, March 2025). NMG's 2024 ESG Report can be consulted on the Company's website. The Company is committed to the safe and responsible conduct of operations. For the twelve-month rolling period ended March 31, 2025, NMG reported a total recordable injury frequency rate ('TRIFR') of 1.77 and severity rate of 2.65 at the Company's facilities. In 2024, NMG maintained its track record with no major environmental incidents. To mark the Company's uplisting to the Toronto Stock Exchange, NMG's leadership took advantage of an investor and financing tour to open the market on April 24, 2025. Considering the change of technology and upcoming lease expiry for the industrial space in Olin's facility in Bécancour, NMG has initiated the decommissioning of its Phase-1 Purification Plant. The remaining of the Phase-1 operations located in Saint-Michel-des-Saints are operating as usual for the foreseeable future to continue producing flake concentrate from the Matawinie deposit, as well as preparing and testing large-scale qualifying active anode material samples for actual and potential tier-1 customers. At the end of the period, the Company had a cash position of $89 million. Market Perspectives The graphite and battery sectors are undergoing rapid transformation, driven by the adoption of EVs and energy storage systems ('ESS'). During the period, global EV sales went up 29% compared to the same period last year, with Europe bouncing back at +22% and North America at +16% (Benchmark Mineral Intelligence, April 2025). The global ESS market grew 65% year-over-year (Rho Motion, April 2025). This growth reverberates upstream in battery manufacturing. The lithium-ion battery production pipeline is now estimated to reach 9,300 GWh by 2030, with Europe driving the highest demand after China (Benchmark Mineral Intelligence, April 2025). NMG's Anchor Customer GM announced that its EV battery production has now surpassed that of Tesla in the U.S. (Bloomberg, April 2025). While market growth presents significant opportunities, supply chain vulnerabilities and geopolitical tensions pose challenges, particularly for North America. Efforts are underway to diversify and localize production considering the region remains heavily reliant on imports; the U.S. was 100% dependent on foreign graphite to meet its demand in 2024 (Benchmark Mineral Intelligence, April 2025). North America faces challenges in establishing a domestic graphite supply chain; the U.S. International Trade Commission is investigating trade activities following a petition from the American Active Anode Material Producers seeking antidumping and countervailing duties on Chinese imports (Bloomberg, January 2025). Moreover, tension and reciprocal measures escalated between the U.S. and China during the period. U.S. manufacturers face steep tariffs on Chinese graphite and anode material. Analysts predict a positive shift toward ex-China natural graphite anode materials as a result (Fastmarkets, April 2025). Amid the global graphite market unprecedented turbulence, U.S. executive orders and policies, including the Export-Import Bank of the United States' ('EXIM') Supply Chain Resiliency Initiative that enables the financing of international projects with offtake critical minerals agreements with U.S. companies, emphasize the importance and urgency of securing the raw materials needed for energy applications and national security. Annual General and Special Meeting of Shareholders NMG will hold its annual general and special meeting of shareholders (the 'Meeting') on Tuesday, June 17, 2025, at 10 a.m. (Eastern Time) via live webcast at NMG is holding the Meeting as a completely virtual meeting, which all shareholders, regardless of geographic location, will have an equal opportunity to attend. Items on the agenda include (a) the presentation of the Company's consolidated audited financial statements for the fiscal years ended December 31, 2024, and 2023, and the independent auditor's report thereon; (b) the election of directors named in the management information circular; (c) the appointment of the external auditor; (d) the ratification and confirmation of the Company's omnibus plan, and (e) the approval of the 1,922,500 stock options granted to directors, officers and employees of the Company approved by the Board of Directors on April 1, 2025 which will be subject to the omnibus plan of the Corporation. Registered shareholders and duly appointed proxyholders are encouraged to vote their shares in advance of the Meeting. Directors Arne H Frandsen, James Scarlett and Andrew Willis indicated that they will not stand for re-election. The Board of Directors and the Company wish to wholeheartedly express gratitude for their dedicated service and contribution during their tenure. Eric Desaulniers, Founder, President, and CEO of NMG, added: 'On my behalf and that of our employees, directors and shareholders, I want to thank Arne, James and Andrew for their service to the development and governance of NMG. We have gained tremendously from their guidance and insight, to help position the Company in a bustling sector, rally strategic investors and establish commercial agreements with our Anchor Customers. Thank you!' The Board of Directors proposes two new candidates as nominees for directorship, namely Paola Farnesi and Édith Jacques, in complement to directors who stand for re-election: Daniel Buron, Eric Desaulniers, Stéphane Leblanc, Nathalie Pilon, and Chantal Sorel. Paola Farnesi is a senior financial professional with over 30 years of experience in corporate finance, financial reporting, mergers and acquisitions ('M&A') and risk management. She is currently Vice-President and Treasurer of Domtar Corporation, after having held several leadership positions at Domtar Corporation and having worked at Ernst & Young. Édith Jacques is a partner and Chair of the Board at Lavery Lawyers in Montréal, specializing in mergers and acquisitions, commercial, and international law. She advises mid- and large-sized companies on strategic business matters, including domestic and cross-border transactions, and is recognized for her pragmatic approach and leadership in the manufacturing and energy sectors. The meeting will be complemented with a corporate presentation by Founder, President and CEO Eric Desaulniers providing an update on the Company's key projects, commercial engagement, and growth plan. Shareholders entitled to vote at the meeting will be those who are shareholders as at the close of business on the record date, being May 2, 2025. Electronic copies of the notice of meeting, the management information circular, the proxy form, the voting instruction form and the financial statements are or will be available, as the case may be, on the Company's SEDAR+ and EDGAR profile, NMG's website and at The Company's financial reports, 2024 Annual Report and 2024 ESG Report are also posted online on NMG's website for ease of consultation. About Nouveau Monde Graphite Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With recognized ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing advanced materials while promoting sustainability and supply chain traceability. Subscribe to our news feed: Cautionary Note Regarding Forward-Looking Information This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation (collectively, 'forward-looking statements'), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management's expectations and assumptions regarding the Company's growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to, the Company's ability to fulfill the conditions precedent of the offtake agreements, the Company's ability to secure a positive FID, to develop a fully integrated ore-to-battery-material source of graphite-based active anode material in the Province of Québec, to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, to provide performing and reliable advanced materials while promoting sustainability and supply chain traceability, and to position its integrated graphite operation in capital markets, the completion of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant, the assistance of specialized Asian firms with expertise in the industry to support the technical development, the continuity of the market conditions and geopolitical dynamics create a favorable landscape for our transition to commercial operations, the Western economies' growing appetite for critical minerals, and the Company's ability to capitalize on such growing appetite and to capitalize on governments' efforts to reshore manufacturing, secure the critical minerals needed, and reduce dependencies on competing economies, the execution of agreements with First Nations, communities and key stakeholders on favorable terms for the Company, the implementation of the agreement with the Atikamekw of Manawan, the Company's future role in supporting North America's efforts to reshore critical mineral production, reducing dependency on foreign supply chains and strengthening the continent's energy transition, the continuity of the clean energy transition, the increased demand for battery production, the expected results of the initiatives described in this press release, and those statements which are discussed under the 'About Nouveau Monde' paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant, the Company's ability to provide high-performing and reliable advanced materials while promoting sustainability and supply chain traceability, the consumers demand for components in lithium-ion batteries for EVs and energy storage solutions, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for graphite concentrate, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favorable terms, sustained labor stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, the various tax assumptions, CAPEX and OPEX estimates, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment , and are not guarantees of future performance. Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments' responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 31, 2025, including in the section thereof captioned 'Risk Factors', which is available on SEDAR+ at and on EDGAR at Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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28-03-2025
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NMG Releases Updated Feasibility Study for Phase 2 Integrated Ore-to-Active Anode Material Operations: Matawinie Mine and Bécancour Battery Materials Plant
Updated Feasibility Study covering NMG's Phase-2 Matawinie Mine and the Bécancour Battery Material Plant for an integrated production of natural graphite and active anode material within a 150-km radius of Montréal, Québec, Canada. Integrated production model refined and updated in light of technological development, project optimizations, engineering advancement, and updated economic factors. Significant derisking with the adoption of the prevalent purification technology, aligned with established commercial operations worldwide. Updated Feasibility Study indicates an after-tax IRR of 17.5% and NPV of US$1,053 million with revenue reflective of third-party market projection of NMG's offtakes with Panasonic and GM, and for the balance of production. Results confirm NMG's Phase-2 technical and economic viability, enabling the Company to enter its project financing stage with a view to FID. Updated Feasibility Study to be presented to targeted lenders, Anchor Customers and institutional equity investors to advance and formalize the project financing and reach FID. Upon a positive FID, NMG's Phase 2 Matawinie Mine and Bécancour Battery Material Plant could be built and enter commercial production within less than three years. Toronto, Ontario--(Newsfile Corp. - March 28, 2025) - Mason Resources Inc. (TSXV: LLG) (OTCQB: MGPHF) ("Mason") is pleased to announce that Nouveau Monde Graphite Inc. ("NMG" or the "Company") (NYSE: NMG) (TSX: NOU) has issued the results of the Updated Technical Feasibility Study Report for the Matawinie Mine and Bécancour Battery Material Plant Integrated Graphite Projects (the "Updated Feasibility Study") carried out in accordance with the National Instrument 43-101 ("NI 43-101"). Conducted by BBA Inc. and various specialized consultants, the Updated Feasibility Study pulled from NMG's 2022 Feasibility Study and updated key parameters in light of technological development, project optimizations, engineering advancement, and updated economic factors. NMG's integrated production model, covering the full value chain from mining to advanced processing, is designed to cater to the North American electric vehicle ("EV") and energy storage market with a turnkey, local source of natural graphite active anode material. NMG has signed offtake agreements with Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") (TYO: 6752), and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") (NYSE: GM), (together, NMG's "Anchor Customers") covering more than 80% of the Company's planned Phase-2 production of active anode material. Results of the Updated Feasibility Study indicate that NMG's Phase 2 is technically feasible as well as economically viable. Upon a positive final investment decision ("FID"), the Matawinie Mine and Bécancour Battery Material Plant could be built and enter commercial production within less than three years. Considering that its project financing, nearly 100% of its revenue, a significant amount of its capital expenditures and interest expenses are expected to be denominated in U.S. dollars, the Company has aligned the Updated Feasibility Study financial metrics with this currency, enabling a better representation of the underlying economic realities of the cash flows associated with this integrated project and the associated capital structure. Arne H Frandsen, Chair of NMG, said: "The underlying driver for NMG's ore-to-battery-material business is undeniable. While inflation, geopolitics, and trade dynamics create turbulences, we are focused on delivering on our mission to responsibly produce carbon-neutral advanced graphite materials to power the energy transition. Today's results demonstrate the attractive operation that we have engineered within a stable jurisdiction and underpinned by high ESG principles to help North American manufacturers secure and reshore their supply chain." Eric Desaulniers, Founder, President, and CEO of NMG, declared: "We have been hard at work over the past months to examine, challenge, and refine every component of our future operations. The input of our Anchor Customers coupled with advanced precision through engineering, equipment specifications, procurement, and construction planning have enabled us to optimize our projected Phase-2 commercial production. We are confident that our plans will deliver a performing and competitive operation, supplying highly specialized products to our Anchor Customers. I am eager to present the results to our financial partners in view of FID." Integrated Production, From Ore to Battery Materials Leveraging the Matawinie Mine production as feedstock for the Bécancour Battery Material Plant, NMG has developed an integrated material flowsheet to maximize the production of high-value active anode material destined to the battery market segments. Hence, the two facilities are set to operate in tandem to maximize operational efficiencies and margins along the value chain. Table 1: Economic Highlights of NMG's Integrated Phase-2 Graphite Operations ECONOMIC HIGHLIGHTS Matawinie Mine Bécancour Battery Material Plant INTEGRATED NMG MODEL Pre-tax NPV (8% discount rate) US$402M US$926M US$1,328M After-tax NPV (8 % discount rate) US$252M US$801M US$1,053M Pre-tax IRR 17.7% 17.1% 17.3% After-tax IRR 16.0% 18.0% 17.5% Pre-tax payback 5.5 years 6.0 years 5.8 years After-tax payback 5.2 years 5.0 years 5.0 years Initial CAPEX US$415M US$911M US$1,326M Annual OPEX US$44M US$124M US$168M Costs reflect steady-state production, exclude the initial ramp-up period, and are based on normalized operationsThe after-tax IRR exceeds the pre-tax IRR, driven by the favorable impact of eligible tax credits, such as the Canadian Clean Technology Manufacturing Investment Tax Credit, Zero-Emission Technology Manufacturing (ZETM) tax measures, provincial tax holidays for large investment projects and other available incentives. Both greenfield projects, the Matawinie Mine and Bécancour Battery Material Plan were costed using test work results, Phase-1 operations, supplier quotations and consultants' in-house databases. NMG and its consulting firms have refined design, engineering, and construction parameters to enable cost optimization. Furthermore, reserved blocks of Québec's affordable clean hydropower underpins the Company's operations, economics structure and carbon-neutrality commitment. NMG's integrated business model, with a secured feedstock, close-by operations at the western market's doorstep and operational flexibility to adapt production based on demand, represents a stable and cost-effective structure in today's everchanging macroeconomics. The Company's advanced processing capacities at the future Phase-2 Bécancour Battery Material Plant enable tailored production to unique customer specifications. The majority of the future Matawinie Mine production is set to be refined into active anode material, while a portion of jumbo and large high-purity flake graphite is set to be directed to specialty markets, with some flexibility in the allocation of volumes. The Updated Feasibility Study incorporates NMG's supply agreements with Panasonic Energy, GM and Traxys, as well as market studies by Benchmark Mineral Intelligence, a recognized, regulated and independent price reporting agency. NMG's previously announced offtake agreements, which are subject to completion of conditions precedent and the project-related agreements, with its Anchor Customers provide visibility, pricing confidence, and reduced commercialization costs. Table 2: Commercialization Plans for NMG's Integrated Phase-2 Production Products Volume1 Average Price Flake graphite 14,720 tpa US$1,469/tonne Active anode material 44,100 tpa US$9,346/tonne (Y1 to Y7)US$10,402/tonne (Y8 to Y25)US$10,106/tonne (LOM average) Micronized by-products 43,334 tpa US$400/tonne 1 Volumes reflect steady-state production, exclude the initial ramp-up period, and are based on normalized operations. Matawinie Mine The Matawinie Mine remains largely the same as reflected in NMG's previous technical report. The Updated Feasibility Study considers revised key parameters and costs, leveraging advancement in the project since the 2022 report, namely through detailed engineering, preparatory work at the site, key contracts awarded and/or negotiated, procurement planning, construction preparation, as well as optimization of operations between the two Phase-2 facilities. Rendering of the Phase-2 Matawinie Mine set to produce ~106,000 tpa of flake graphite. To view an enhanced version of this graphic, please visit: The Matawinie graphite property, in which the Company owns a 100% interest, is located approximately 120 km as the crow flies north of Montréal, Québec, Canada, in Saint-Michel-des-Saints. The Tony Claim Block, part of the property, is composed of 159 exclusive exploration rights totaling 8,266 hectares. Since the deposit discovery, a comprehensive exploration program identified crystalline flake graphite mineralization, ultimately leading to the definition of Mineral Resources and Mineral Reserves (as presented below). The Mineral Resources for the West Zone of the mining property is based on a total of 8,274 assay intervals collected from 27,888 m of core drilling and three surface trenches providing 207 channel samples. Proper quality control measures, including the insertion of duplicate, blank, and standard samples, were used throughout the exploration programs and returned within acceptable limits. Table 3: Current Pit-Constrained Mineral Resource Estimate for the West Zone Mineral Resources Category1, 2Current Resources (March 25, 2025)5, 6, 7 Tonnage (Mt) C(g) Grade (%)3 Contained Graphite (Mt)Measured28.5 4.28 1.22Indicated101.8 4.26 4.33Measured + Indicated130.3 4.26 5.55Inferred423.0 4.28 0.981 The Mineral Resources provided in this table were estimated by Yann Camus Qualified Person of SGS Geological Services, using current Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Standards on Mineral Resources and Reserves, Definitions and Guidelines.2 Mineral Resources that are not Mineral Reserves have not demonstrated economic viability. Additional trenching and/or drilling will be required to convert Inferred and Indicated Mineral Resources to Measured Mineral Resources. There is no certainty that any part of a Mineral Resource will ever be converted into Reserves.3 All analyses used for the Resource Estimates were performed by ALS Minerals Laboratories and delivered as % C(g), internal analytical code C-IR18.4 Inferred Mineral Resources represent material that is considered too speculative to be included in economic evaluations. Additional trenching and/or drilling will be required to convert Inferred Mineral Resources to Indicated or Measured Mineral Resources. It cannot be assumed that all or any part of the Inferred Resources will ever be upgraded to a higher Resource category.5 Current Resources effective March 25, 2025.6 Mineral Resources are stated at a cut-off grade of 1.78% C(g).7 Quality control standards used for these Mineral Resources returned within acceptable limits, no significant bias was found. Table 4: Matawinie Mineral Reserve Estimate for the West Zone CategoryTonnage (Mt) C(g) Grade (%) Contained Graphite (Mt)Proven17.3 4.16 0.7Probable44.3 4.26 1.9Proven & Probable61.7 4.23 2.61 The Qualified Person for the Mineral Reserve Estimate is Jeffrey Cassoff, of BBA Inc.2 The effective date of the estimate is March 25, 2025.3 Mineral Reserves were estimated using a graphite concentrate selling price of US$1,334/t, and consider a 2% royalty, and selling costs of US$34.23/t. An average grade of 97% C(t) was considered for the graphite concentrate.4 A metallurgical recovery of 93% was used.5 A cut-off grade of 2.20% C(g) was used.6 The strip ratio for the open pit is 1.16 to 1.7 The Mineral Reserves are inclusive of mining dilution and ore loss.8 The reference point for the Mineral Reserves is the primary crusher.9 Totals may not add due to rounding. The future Matawinie Mine site is easily accessible via the dedicated access road that NMG built to connect to the local highway and is close to key infrastructure, including paved roads and high-voltage power lines, and the regional community, which provides a pool of workers and contractors. The project is in proximity to the Montréal metropolitan area, which also has skilled labor and many key suppliers. Since 2015, multiple metallurgical process development and optimization programs have been carried out on samples from the Matawinie graphite mineralization zones. The programs focused on the development of a flowsheet that maximizes concentrate grade and recovery, while minimizing flake degradation. NMG has been operating the Phase-1 Matawinie Demonstration Plant since 2018 to help de-risking the process and produce graphite concentrate samples for customer evaluation and processing technological development. All components incorporated in the Matawinie Mine process are mature technologies. With a 25-year life of mine ("LOM"), the Matawinie Mine will leverage the West Zone deposit for a nominal production of 105,882 tonnes per annum ("tpa") of graphite concentrate. The deposit will be mined using conventional open-pit mining methods consisting of drilling, blasting, loading, and hauling. To maximize the NPV, mining phases have been designed and incorporated into the mining plan to defer waste rock stripping and provide a balanced blended feed grade for the on-site concentrator over the LOM. Through crushing, milling, flotation, cleaning, and drying, the ore will be concentrated to attain 97.5% C(t). Tailings produced at the concentrator will be segregated after the desulphurization circuit into low-sulphur content of non-acid generating ("NAG") tailings and a sulphide concentrate of potentially-acid generating ("PAG") tailings. Both NAG and PAG will be filtered to reduce water content and then co-disposed with waste rock into deposition cells on a lined platform. The co-deposition storage facility will be located at surface and as of Year 7, tailings and waste rocks will also be placed in the mined-out areas of the open pit. The deposit will be mined from south to north to ensure adequate space is available for in-pit backfilling. Table 5: Operational and Economic Highlights of the Matawinie Mine ParametersLOM 25 years Nominal annual processing rate 2.56 M tonnes Stripping ratio (LOM) 1.16:1 Average grade (LOM) 4.23% C(g) Average mill recovery 93% Nominal annual graphite concentrate production 105,882 tonnes Finished product purity 97.5% C(t) CAPEX US$415M Annual OPEX US$44M OPEX cost per tonne of graphite concentrate US$419/tonne Costs reflect steady-state production, exclude the initial ramp-up period, and are based on normalized operations. A ministerial decree authorizing the Matawinie Mine (Decree # 47-2021) was granted by the Québec Government and all permits and authorizations pertaining to exploration, geotechnical, hydrogeological, and early preparatory works to date have been obtained. Early works at the Matawinie Mine have included thus far tree clearing, construction of the nearly 8-km access road, preparation of the industrial pad, and civil works for environmental infrastructure. The site is considered concrete-ready for the start of construction upon a positive FID, with a number of key contracts having been awarded, including process equipment, the dedicated powerline and the electrical substation. Aerial view of the Matawinie Mine site in September 2024. To view an enhanced version of this graphic, please visit: Bécancour Battery Material Plant The Phase-2 Bécancour Battery Material Plant is planned as a comprehensive advanced processing platform set to receive Matawinie graphite concentrate production for refining and commercial distribution. Plans for this facility have been substantially revised using inputs from NMG's Phase-1 operations, technology development, and engineering. Approximately 150 km northeast of Montréal on the Saint Lawrence River, in the heart of Québec's "battery valley", NMG's Bécancour site is located adjacent to its Phase-1 purification plant, within an established industrial park. The site provides robust local infrastructure with a direct supply of chemicals from nearby producers, affordable hydroelectricity, multimodal logistics (international deep-sea port, railway, and expressway) and a regional pool of skilled workforce. Rendering of the Phase-2 Bécancour Battery Material Plant, in the heart of the Bécancour industrial park set to produce ~44,000 tpa of active anode material. To view an enhanced version of this graphic, please visit: The future Bécancour Battery Material Plant will regroup shaping, purification and coating capacities to produce battery-grade active anode material. The shaping process, essentially a mechanical transformation, reduces the flake size (micronization) and rounds graphite material (spheronization) to increase the density of the spherical graphite for battery use. At its Phase-1 facility, NMG has already assimilated and refined this process, and tested different equipment to inform the engineering of the Phase-2 plant. Shaping generates a micronized graphite by-product to be sold. Purification removes impurities from the spheronized graphite to bring the product to ≥99.90% carbon content. Following testing at its Phase-1 Purification Plant plus third-party sites, trade-off analyses and process optimization, NMG has selected the prevalent chemical purification technology for its future Phase-2 Bécancour Battery Material Plant. Commercial operations worldwide have demonstrated the performance and efficiency of this technology in line with battery manufacturers' requirements; thus, reducing the technological risks for the project. Continued optimization of the process to refine environmental performance, operational, and financial parameters along with sample production are being carried out at partnering facilities to support detailed engineering and commercialization efforts. The coating aims at enhancing the electrochemical performance of active anode material in lithium-ion batteries. To establish the proper technology, precursor type and process parameters, NMG performed different studies and tests at its Phase-1 facility, in independent laboratories and at suppliers' test facilities. Most technologies selected are being widely used in the industry, further reducing technological risks. Table 6: Operational and Economic Highlights of the Bécancour Battery Material Plant ParametersAnnual active anode material production 44,100 tonnes Finished product purity ≥99.90% C(t) CAPEX US$911M Annual OPEX US$124M OPEX cost per tonne of active anode material US$2,810/tonne Annual micronized graphite by-product production 43,334 tpa Costs reflect steady-state production, exclude the initial ramp-up period, and are based on normalized operations. In preparation for the launch of construction, preliminary works - tree clearing, on-site road construction, site grading - were carried out in 2024. Responsible Production & ESG In line with its environmental, social and governance ("ESG") practices, NMG plans to build and operate an integrated production that promotes stewardship throughout its value chain. The Company strives to prevent and limit potential impacts through the introduction of responsible practices including co-disposal dry stacking of tailings, progressive reclamation of the Matawinie site, strategy for the electrification of its operations, water recycling, greenhouse gas reduction measures, and active stakeholder engagement at every stage of project development. NMG has signed a collaboration and benefit-sharing agreement with the Municipality of Saint-Michel-des-Saints as well as an impact and benefit agreement with the Atikamekw First Nation of Manawan. NMG is committed to pursuing its efforts to improve its practices, technologies, products, and procurement as it advances the detailed engineering, construction, commissioning, and launch of commercial production. The Company strives to maximize opportunities for Indigenous and local workers, contractors, and communities throughout the project execution. Next Steps and Quality Assurance The confirmation of NMG's Phase-2 viability through the Updated Feasibility Study enables the Company to enter its project financing stage with a view to reach FID. There is no certainty that the economic forecasts on which the Updated Feasibility Study is based will be realized. There are a number of risks and uncertainties identifiable to any new project and usually cover the mineralization, process, financial, environment and permitting aspects. Following an analysis of the major risks to the projects, a P50 management risk reserve of US$122M is recommended. This reserve is not included in the capital cost estimate but is within the range of the financial sensitivity analysis of the capital cost. The top risks are: 1) The optimization of the water treatment process technology; 2) The efficient integration of key Asian suppliers into the project detailed engineering and construction; and 3) The qualification by the customers of the product from the Matawinie Mine and the Bécancour Battery Material Plant. A sensitivity analysis reveals that the viability of the Projects will not be significantly vulnerable to variations in capital and operating costs within the margins of error associated with the Updated Feasibility Study estimates. However, the viability of the Projects remains more vulnerable to the USD/CAD exchange rate and the larger uncertainty in future market prices. Scientific and technical information presented in this press release was reviewed and approved by André Allaire, (BBA), Yann Camus, (SGS Geological Services) and Jeffrey Cassoff, (BBA), Qualified Persons as defined under NI 43-101. The Updated Feasibility Study will be filed on SEDAR+ at EDGAR at and on the Company's website at within 45 days of this press release. Readers are encouraged to read the Study in its entirety, including all qualifications, assumptions and exclusions that relate to the details summarized in this press release. The Study is intended to be read as a whole, and sections should not be read or relied upon out of context. About Nouveau Monde Graphite Nouveau Monde Graphite is an integrated company developing responsible mining and advanced refining operations to supply the global economy with carbon-neutral active anode material, which powers electric vehicles and renewable energy storage systems. The Company seeks to establish a fully integrated source of graphite active anode material in Quebec, Canada, from ore to battery materials. Through its recognized ESG standards and strategic partnerships with anchor customers, NMG is poised to become a strategic supplier to the world's leading lithium-ion battery and electric vehicle manufacturers, offering advanced materials while promoting sustainability and supply chain traceability. About Mason Resources Inc. Mason Resources Inc. is a Canadian corporation focused on seeking investment opportunities. Mason is the largest shareholder of Black Swan Graphene Inc. (TSXV: SWAN) (OTCQB: BSWGF) which is focusing on the large-scale production of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete and polymers, which are expected to require large volumes of graphene and, in turn, large volumes of graphite. Mason is also one of the largest shareholders of Nouveau Monde Graphite Inc. (TSXV: NOU) (NYSE: NMG), an integrated company developing responsible mining and advanced manufacturing operations to supply the global economy with carbon-neutral active anode material to power EV (electric vehicle) and renewable energy storage systems. The company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Quebec, Canada. With enviable ESG standards and structuring partnerships with anchor customers, Nouveau Monde Graphite is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. Lastly, Mason is the largest shareholder of NorthX Nickel Corp. (CSE: NIX), a Canadian Ni-Cu-Co-PGE focused exploration and development company with an extensive portfolio of assets in Quebec and Ontario, Canada. The company's flagship asset is the Grasset Project, located within the Abitibi Greenstone Belt, with an indicated mineral resource of 5.5 Mt @ 1.53% NiEq (such NiEq grade being established based on: 1.22% Ni, 0.13% Cu, 0.03% Co, 0.26 g/t Pt, 0.64 g/t Pd). In addition, the company holds a portfolio of 37 properties and over 300 km2 in the world-class mining district of Sudbury, Ontario. For more information: Mason Resources Inc. on behalf of the Board of Directors Peter Damouni, President & Chief Executive Officer For more information please contact:Paul Hardy, Vice President - Corporate Developmentphardy@ (416) 844-7365 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information The information contained herein contains "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation. Forward-looking statements or forward-looking information relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements" or "forward-looking information". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to Mason's investment in Sand Minerals and the likelihood that the investment, for which there is currently no market or liquidity, will result in profitability for the Corporation on the timeline projected or at all, the holding of the NMG, Black Swan and NorthX Nickel shares, risks related to the development of NMG's projects, risks related to Black Swan's and NorthX Nickel's business, risk related to the failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with the industry; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in development activities or the completion of feasibility studies; the uncertainty of profitability; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of feasibility studies, and the possibility that future results will not be consistent with Mason's expectations; risks related to commodity prices fluctuations; and other risks and uncertainties related to Mason's prospects, properties and business detailed elsewhere in Mason's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and Mason does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from Mason's expectations or projections. To view the source version of this press release, please visit Sign in to access your portfolio
