Mentioned:
A publicly traded company in Canada has just landed a potential new source of mega funding for their graphite ambitions. And it’s being led by the Export-Import Bank of the United States.
What’s happening:
- Graphite One (TSXV: GPH) has received a letter of interest from the Export-Import Bank of the United States for $570M USD to advance their Graphite Creek project located in Alaska
Why it matters:
- This is one of the single largest funding commitments that the Export-Import Bank of the United States has ever made for an American graphite project
Going deeper:
- Graphite One’s Graphite Creek project is widely considered to be the single largest known deposit of graphite in the United States and has shown extremely high grade flake graphite in early drilling and exploration
- The Export-Import Bank of the United States also previously gave Graphite One a letter of interest for $325M USD to build out a graphite materials plant located in Ohio
The intrigue:
- Graphite One also recently made major waves when they struck a deal with electric vehicle manufacturer Lucid (NASDAQ: LCID) to supply them with domestically produced natural graphite
The fine print:
- The new letter of interest from the Export-Import Bank of the United States is non-binding and still requires due diligence and project feasibility studies before any capital will be advanced to Graphite One
