Graphite One Inc - GPHOF stock
OTC Symbol: GPHOF | OTC Tier: OTCQX | Related ticker symbols: TSXV: GPH
Graphite One Inc.[edit]
Graphite One Inc. is a mineral exploration company based in Vancouver, Canada, with operations in the United States; it owns the Graphite Creek property in Alaska, comprising 176 mining claims covering an area of 9,600 hectares on the Seward Peninsula; formerly known as Graphite One Resources Inc., the company rebranded as Graphite One Inc. in February 2019.[1]
History[edit]
Graphite One Inc. was incorporated in 2006. The company's origin can be traced back to its establishment as a mineral exploration company with a focus on graphite resources. Graphite is a critical element used in various industries, including batteries, electric vehicles, and other high-tech applications. The founders of Graphite One Inc. recognized the increasing demand for graphite as technology and renewable energy sectors expanded. Graphite's importance in lithium-ion batteries and other energy storage technologies made it a valuable commodity in the emerging clean energy landscape.[2]
To capitalize on the growing market for graphite and related products, Graphite One Inc. sought to identify and develop high-quality graphite deposits with significant potential for extraction and commercialization.[3]
Over the years, Graphite One Inc. has conducted extensive exploration and drilling activities to assess the graphite resources at the Graphite Creek property. These efforts aimed to estimate the size and quality of the graphite deposit and determine its economic viability for future mining operations.[3]
Projects[edit]
Graphite Creek Property[edit]
The company's primary asset is the Graphite Creek property located on the Seward Peninsula in Alaska, USA. This property is known to contain a significant graphite resource, making it a strategic asset for Graphite One Inc.[2] The gathering of geotechnical information began in 2024 which will allow for infrastructure development, the process facility, designing the pit walls and foundations, and tailings/waste rock facility[4].
Manufacturing Facility[edit]
Graphite One has selected Ohio's 'Voltage Valley' as the site for its upcoming graphite anode manufacturing facility. The company has entered into a 50-year land lease agreement for a location in Niles, Ohio, with the option to buy. This brownfield site was previously used for storing critical minerals for national defense and has been cleared through Ohio's Environmental Protection Agency Voluntary Action Program. Initially, the plant will focus on manufacturing synthetic graphite anode active materials. Additionally, it will incorporate natural graphite anode active materials once the feedstock from the Graphite Creek Project in Alaska becomes accessible.[5]
Funding[edit]
December, 2024 Private Placement[edit]
A non-brokered private placement was completed in December, 2024, raising total gross proceeds of CDN$4,780,650 through the sale of 6,374,200 units at CDN$0.75 per unit. The financing included 4,118,200 units (CDN$3,088,650) sold under the LIFE Financing exemption to Canadian residents and 2,256,000 units (CDN$1,692,000) sold to purchasers outside Canada.[6]
Department of Defense Grants[edit]
Two grants have been received from the U.S. Department of Defense, initially totaling $42 million. The grants are for accelerating feasibility studies and to "develop a domestically sourced graphite fire foam suppressant, to meet congressional mandates of replacing legacy suppressants known to be both hazardous to the environment and human health".[7] The DoD's share of expenditures was raised from 50% to 75% resulting in a total value of $49.8 million.[8]
Alaska's Bering Straits Native Corporation[edit]
Bering Straits Native Corporation in Alaska has committed to provide funding of up to $10.4 million. A portion of the funds, $2 million, were provided as an initial investment, and $8.4 million can be invested to support the Graphite Creek project.[7]
Export-Import Bank of the United States[edit]
Graphite One has a non-binding letter of interest from the Export-Import Bank of the United States. The proposed agreement will provide up to $325-million in debt financing. If received, the funds will be applied to a manufacturing facility.[9]
- ↑ Yahoo Finance. GPHOF Stock Profile. Retrieved on 11/2/2023.
- ↑ 2.0 2.1 Seeking Alpha. GPHOF. Retrieved on 11/3/2023.
- ↑ 3.0 3.1 Investing.com. Graphite One Resources Inc Company Profile. Retrieved on 11/3/2023.
- ↑ PR Newswire. Graphite One Announces Kick-off of 2024 Field Program. June 26, 2024.
- ↑ Mining Technology. Graphite One picks Ohio’s Voltage Valley for graphite anode facility. March 21, 2024.
- ↑ CNW Group. Graphite One Announces Closing of LIFE Financing and Concurrent Private Placement. December 27, 2024.
- ↑ 7.0 7.1 PR Newsire. Graphite One 2023 Year in Review. January 2, 2024.
- ↑ PR Newsire. Graphite One Announces Revised Contract with the U.S. Department of Defense to Increase Share of Expenditures from 50% to 75% for the Feasibility Study. June 24, 2024.
- ↑ Mining Weekly. Graphite One lines up potential $325m Exim loan. October 21, 2024. Archive link.
