+ Major deliveries have been completed for NMG’s Phase-1 coating
module; construction is advancing towards the planned commissioning
target before the end of H1-2022 for the Company’s
2,000-tpa-capacity anode material value chain.
+ The integrated 43-101-compliant feasibility study prepared by
BBA is progressing for the Phase-2 Bécancour Battery Material Plant
and Matawinie Mine, for a comprehensive updated economics structure
of NMG’s business model to be announced before the end of
Q2-2022.
+ Preparatory works have resumed at the Phase-2 Matawinie Mine
ahead of civil works targeted for the year.
+ Thanks to its Phase-1 production, NMG is currently actively
engaged in qualification sampling with selected battery
manufacturers, now providing A & B samples. Sustained interest
from top-tier potential customers is supported by sample quality
checks, site visits and requests for information.
+ NMG is advancing with the structuring and securing of project
financing for the construction and development of the Phase-2
Bécancour Battery Material Plant and Matawinie Mine, and has
received non-binding letters of interest from two Export Credit
Agencies, evidencing a clear expression of the potential support
which the ECA may offer.
+ NMG continues to demonstrate the ESG-credentials of its
business model through an A2 Robust Sustainability Rating from
Moody’s and release of its Climate Action Plan.
+ Year-end OSHA rate of 2.61 for the Company’s operations and 0
for its contractors, with no major environmental incident.
+ Year-end cash position of $62.3M.
Nouveau Monde Graphite Inc. (“NMG”, “Nouveau Monde” or the
“Company”) (NYSE: NMG, TSXV: NOU) publishes its year-end financial
results for the twelve-month period ended December 31, 2021 as it
advances towards the final stages of its Phase-1 facilities
construction demonstrating the full vertical from mining to battery
market while maintaining an active development program on its
Phase-2 commercial scale up. With the construction of NMG’s coating
module well underway, the Company is set to have a
2,000-tonnes-per-annum (“tpa”) capacity integrated graphite
production line of anode material by mid-year. At the same time,
NMG is defining the updated economics model for its Phase 2 and is
engaging with potential customers and financial partners to support
the delivery of its full commercial-scale facilities.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220325005106/en/
On March 23, 2021, NMG’s Board of
Directors and Executive team rang the New York Stock Exchange
Closing Bell (Photo © NYSE).
Arne H Frandsen, Chair of NMG, commented: “We are making
significant progress on our objectives at a time when the market is
feeling the pressure of limited supply options, rising prices and
complicated logistics. I am confident that the ESG-minded team at
NMG can capitalize on our exclusive ecotechnologies and
industry-leading practices to position the Company as a Western
World’s trailblazer for competitive, sustainable, and local
graphite advanced materials production.”
Eric Desaulniers, Founder, President, and CEO of NMG, added:
“Upon the completion of our coating module as the final stage of
our integrated Phase-1 production, we are set to offer a turnkey
solution for the extraction, concentration, value-added
transformation and quality assurance of graphite materials
manufacturing. Our Phase-1 facilities accelerate our transition to
the next phase of our development by providing electric vehicle
(“EV”) and battery manufacturers with customized, high-quality,
carbon-neutral and low-cost advanced materials, supporting process
optimization and value engineering for our Phase 2, as well as
providing a unique training platform for our team.”
Battery Material Plant
NMG is advancing with the deployment of its coated spherical
purified graphite production with the construction of its Phase-1
coating line. This last process step will complete the Company’s
graphite-based product range for the EV and renewable energy
sectors by having a production capacity of up to 2,000 tpa of anode
material. Although some have been delayed due to the worldwide
logistics disturbances, deliveries have arrived at the Company’s
demonstration plant over Q4-2021 and Q1-2022. All major deliveries
have now been received. Construction is underway, and on budget,
for a targeted commissioning before the end of H1-2022.
Construction of the coating module at NMG’s facility.
NMG is also expecting the delivery of its second
commercial-scale shaping module at its facilities in Q2-2022 which
would allow it to triple its spherical graphite production
capacity. The construction and equipment commissioning is scheduled
to be carried out by the end of H1-2022 for a production start and
ramp up during Q3-2022. This addition to NMG’s Phase-1 advanced
manufacturing line will enable the Company to provide customers
with a broader and more comprehensive range of specs.
NMG’s Phase-1 purification plant continues the production of
battery-grade SPG volumes. Positive results obtained by testing the
furnaces’ optimal capacity and the validation of operational
parameters have enabled NMG to refine the engineering of the
Phase-2 Bécancour Battery Material Plant.
Indeed, the Front-End Loading feasibility engineering analysis
(“FEL-3”) for the Company’s Phase-2 operations is progressing and
on budget, with a 48% completion rate and a scheduled completion by
the end of Q2-2022. NMG’s integrated business model will be
reflected in this National Instrument 43-101 Standards of
Disclosure for Mineral Projects (“NI 43-101”)-compliant feasibility
study for the Phase-2 Bécancour Battery Material Plant to update
planning, cost projection, and development framework in a unified
structure with the Matawinie Mine. In complement to the engineering
efforts, the Company has initiated the permitting planning process
and community outreach for the Bécancour Battery Materials
Plant.
Matawinie Mine
In December 2021, NMG completed the construction of the nearly
8-km access road connecting the mining site to the local highway.
Early works were successfully and safely completed, with no
recordable environmental, health or safety incidents. Tree clearing
activities are currently being conducted – before the nesting
season to limit impacts to avifauna – in order to prepare the site
for the next phase of civil works.
The detailed engineering and procurement packages of the
Matawinie mine and concentrator continue to progress with
SNC-Lavalin, Metso Outotec and NMG’s owner’s team. Optimization of
facilities, preparation of architectural specifications and plans,
mechanical engineering, and equipment selection advance on
schedule. The mining plan is also progressing based on the latest
drilling campaign. Overall advancement of engineering is estimated
at 55%.
NMG has put forward advanced standards for design criteria of
tailings management at the Matawinie Mine by prioritizing the
desulphurization of tailings, dry-stacking, and the co-disposal of
waste rock and tailings. This environmentally sound method involved
a recognized approach and has been approved by government officials
following a thorough review. An experimental cell was built in 2020
to demonstrate in actual conditions the performance of this
proactive environmental method. Field-scale cells were built to
calibrate the parameters with respect to the performance of the
tailings co-disposal objectives design, including preventing
sulfide oxidation and mine water contamination. The field test
cells are instrumented and monitored by the Company’s Environment
Team. Results from the test cells are positive, validating the
co-disposal technology developed by NMG.
As for its electrification strategy, the Company’s technical
team is highly engaged with Caterpillar for the planning and
development of a zero-emission fleet for the Matawinie Mine. At the
beginning of Q1-2022, NMG was awarded Mining Magazine's Future
Fleets excellence award for the intended electrification of its
Matawinie Mine.
Products Development and Market
The Company’s Phase-1 operations continue to support technical
marketing and product qualification efforts in the lithium-ion
battery, traditional and niche sectors. Production at the Phase-1
facilities and testing at NMG’s new state-of-the-art laboratory
enable the supply of graphite products in various specifications to
meet the manufacturer's individual requirements.
Samples have been and continue to be provided to potential
customers as part of sales discussions. NMG has advanced into the
qualification process with several battery manufacturers, now
providing A & B samples. Sustained interest from top-tier
potential customers is supported by quality checks, site visits to
the Company’s Phase-1 operations and requests for information.
In addition, the Company is actively strengthening its quality
assurance and quality control with the implementation of an ISO
9001-compliant system.
Electric vehicles outsold diesel cars in Europe for the first
time in December 2021. To meet the soaring demand from consumers,
the auto industry is on track to invest half a trillion dollars in
the next five years to transition its fleet towards electrification
(New York Times, February 2022). This shift is driving major
changes in existing supply chains as original equipment
manufacturers compete to source the raw materials and electronic
components and bring to market enough volume to meet consumers'
enthusiasm.
In fact, the lithium-ion battery market expansion is driving
growth in demand for natural graphite with a global anode capacity
projection of 8,391,550 tonnes per annum by 2031, a 13.2%
month-over-month increase for the beginning Q1-2022 (Benchmark
Mineral Intelligence, February 2022). Moreover, constrained supply
due to mine and factory closures in China have lead to an upward
price pressure for flake graphite (Benchmark Mineral Intelligence,
January 2022).
These market dynamics create a favorable setting for NMG’s
development of a local turnkey supply of green anode material.
Corporate and ESG
NMG conducted its operations guided by its Zero-Harm Philosophy.
The Company reports a year-end Occupational Safety and Health
Administration (“OSHA”) Recordable Incident Rate of 2.61 for its
facilities and 0 for its contractors. NMG had no major
environmental incidents as defined by the Global Reporting
Initiative. Through its work protocols, continuous monitoring, and
environmental program, it responsibly conducted its operations and
worked to diligently address and mitigate any minor incident at its
sites.
The Company embedded leading ESG principles in its business
model alongside carbon-neutral operations and traceability of its
value chain. In an independent assessment of the Company’s
sustainability performance, Moody’s ESG Solutions provided a
Sustainability Rating of A2 (‘Robust’), the second-highest grade on
its rating scale, to NMG.
As part of its carbon-neutrality commitment, NMG released its
Climate Action Plan detailing efforts around transparent reporting,
reduction of the Company’s embedded emissions, transition to Net
Zero, research and development for low-carbon materials and
activities, as well as industry leadership. The Company has also
purchased verified carbon credits to offset its 2021 carbon
balance.
NMG is currently completing a lifecycle analysis for its
graphite products portfolio to support its marketing and
sustainability efforts.
The Company is advancing with the structuring and securing of
project financing for the construction and development of the
Phase-2 Bécancour Battery Material Plant and the Matawinie Mine. In
this regard, the Company has been in discussions with a number of
Export Credit Agencies (“ECA”) to provide credit support for a
significant portion of the project financing, and has received
non-binding letters of interest from two ECA, evidencing a clear
expression of the potential support which the ECA may offer.
In 2021, the Company raised over $130M through public offerings,
the exercise of warrants, private placements, and financial levers
from governments. Capital allocation emphasized the advancement of
NMG’s projects through engineering, procurement of key equipment
and construction; R&D for the development of new processes and
products, and corporate expenses to support the Company’s
growth.
At December 31, 2021, the Company had $63.2M.
About Nouveau Monde
Nouveau Monde is striving to become a key contributor to the
sustainable energy revolution. The Company is working towards
developing a fully integrated source of carbon-neutral battery
anode material in Québec, Canada for the growing lithium-ion and
fuel cell markets. With low-cost operations and enviable ESG
standards, Nouveau Monde aspires to become a strategic supplier to
the world’s leading battery and automobile manufacturers, providing
high-performing and reliable advanced materials while promoting
sustainability and supply chain traceability. www.NMG.com
Subscribe to our news feed: https://NMG.com/investors/#news
Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact,
contained in this press release including, but not limited to those
describing the intended results of the Company’s development plans,
the timeline and progress of the initiatives described in this
press release, future graphite supply and demand, the benefits of
the Company’s de-risking strategy, the impact of the foregoing on
the project economics, the Company’s intended production capacity
of carbon-neutral anode material, the growth of the lithium-ion
battery and EV markets, the Company’s commitments and performance
with respect to its ESG initiatives, including the intended
electrification of the Matawinie Mine, the interest of potential
customers, the ability to structure and obtain sufficient project
financing for the construction and development of the Bécancour
Battery Material Plant and the Matawinie Mine, potential credit
support from ECA, the intended results of the initiatives described
above, 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,
constitute “forward-looking information” or “forward-looking
statements” within the meaning of Canadian and United States
securities securities laws, and are based on expectations,
estimates and projections as of the time of this press release.
Forward-looking statements are necessarily 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 may prove to be
incorrect. Moreover, these forward-looking statements were based
upon various underlying factors and assumptions, including the
current technological trends, the business relationship between the
Company and its stakeholders, the ability to operate in a safe and
effective manner, the timely delivery and installation of the
equipment supporting the production, 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 information and 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 information and 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. 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.
The market and industry data contained in this press release is
based upon information from independent industry publications,
market research, analyst reports and surveys and other publicly
available sources. Although the Corporation believes these sources
to be generally reliable, market and industry data is subject to
interpretation and cannot be verified with complete certainty due
to limits on the availability and reliability of raw data, the
voluntary nature of the data-gathering process and other
limitations and uncertainties inherent in any survey. The
Corporation has not independently verified any of the data from
third-party sources referred to in this press release and
accordingly, the accuracy and completeness of such data is not
guaranteed.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Further information regarding the Company is available in the
SEDAR database (www.sedar.com), and for United States readers on
EDGAR (www.sec.gov), and on the Company’s website at:
www.NMG.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220325005106/en/
Julie Paquet VP Communications & ESG Strategy
+1-450-757-8905 #140 jpaquet@nmg.com
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