Mason Graphite Inc. (“Mason Graphite” or the
“Company”) (TSX.V: LLG; OTCQX: MGPHF) is very pleased to announce
that the cycling tests, carried out on its full prototype pouch
cell batteries, are conclusive, having crossed the objective of
1,000 charge & discharge cycles while maintaining a capacity
retention of 80.6%. This performance unequivocally ranks the Lac
Guéret graphite among one of the best performing Li-ion anode
materials presently available commercially in all applications,
including electric vehicles.
This value-added transformation process was
developed in collaboration with the National Research Council of
Canada (“NRC”) and Corem, a research and innovation center in
Quebec City. The process was designed based on a thorough
benchmarking study completed from the onset of this battery
material program, ensuring that the resulting product would meet
the general requirements and specifications of battery
manufacturers.
This achievement enhances the Company’s ability
to execute on the commercialisation of the Lac Gueret graphite as a
key component in the rapidly expanding battery market. See “Battery
Material Program” below.
Commercialisation
The Company has expanded its workforce in order
to expedite the commercialisation activities, which are expected to
progress rapidly in the months ahead. The team at Mason Graphite
possesses significant experience in commercialisation having led
the commercialisation efforts and built the client base of a well
recognized global graphite producer. This includes having qualified
and distributed graphite products in all applications, including to
most globally recognized alkaline and Li-ion battery
manufacturers.
Battery Material Program
Mason Graphite has been working since 2015 on
the development and improvement of its transformation process with
the NRC. Mason Graphite and its partners have developed and
mastered the purification, shaping and ultimately coating processes
to meet the chemical and physical properties required to achieve
the electrochemical performance sought by battery
manufacturers.
The NRC is Canada’s largest federal research and
development organization and partners with Canadian industry to
take research impacts from the lab to the marketplace. The NRC
offers a variety of scientific, engineering, and technical
services, including expertise and facilities for clean and energy
efficient transportation technologies. The NRC’s Automotive and
Surface Transportation Research Centre battery prototyping line is
equipped to produce, prototype, and test raw materials from the
mine through to fabrication. The collaboration between Mason
Graphite and the NRC has resulted in a commercially viable
conversion process for battery-grade graphite.
For the project team, achieving these results
represents a significant step forward for the Canadian electric
vehicle industry, but also for other potential lithium-ion battery
applications.
The Coated Purified Spherical Graphite (“CSPG”)
has been produced from a graphite concentrate from the Lac Guéret
project deposit and has been replicated on a pilot scale with the
involvement of Corem.
Francis Fournier, Corem’s President and CEO
added: “We are proud of our contribution since 2014 with Mason
Graphite to the development of innovations for the extraction,
purification and value-addition of the Lac Guéret project graphite.
The tested coated spherical graphite was produced on a pilot scale
at Corem’s facilities. The processes developed in collaboration
with Mason Graphite are a good example of Corem’s role as a partner
of the mining sector in the transition to a green economy such as
the electrification of transportation.”
Jean L’Heureux, Chief Operating Officer of Mason
Graphite, concluded: “The accomplishment celebrated today is the
result of thousands of hours of work carried out by the Mason
Graphite’s team and by our partners. We would like to thank
everyone involved for their invaluable contribution to this
achievement.”
The latest results of the three test cells are
presented in the graph below.
A photo accompanying this announcement is
available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/206aa78b-bdbc-489e-905e-a7a79b047858
Methodology
The batteries are tested at a rate of C/3,
meaning 3 hours to charge and 3 hours to discharge, hence
completing about 4 full cycles per day. The cathode used is of the
NMC532 type. Capacity retention is calculated on the discharge
capacity with respect to the first cycle.
CSPG Pilot Campaign
A new CSPG pilot plant production run is
currently taking place at Corem and at Mason Graphite’s own
facility in Quebec City. The CSPG thus produced will be used to
provide further samples for testing by potential customers during
the commercialisation campaign.
Developing the Next Generation of Anode
Materials
Spherical graphite enhanced with silicon (“Si”)
metal is a growing trend in Li-ion anode materials as Si additions
result in higher overall energy densities in batteries. To date,
the main drawback has been the difficulty to control the swelling
of the Si during charging time, which leads to mechanical
challenges.
Mason Graphite has been working for several
months with a strategic partner specializing in innovative
solutions for the development of a next generation high energy
density Si-enhanced anode material. The partnership aims to
engineer optimal anode materials integrating sufficient levels of
Si, significantly increasing the capacity of lithium-ion batteries,
whilst limiting the concentrations in order to curb any swelling to
a manageable level. This approach aims at ensuring that these
innovative products can be easily integrated into existing
applications and battery manufacturing equipment, infrastructure,
and supply chain.
The preliminary tests of Lac Guéret spherical
graphite enhanced with Si have demonstrated exceptional
electrochemical performance. Additional tests are underway, and the
Company will communicate more details as the program
progresses.
Stock Option Plan
Amendments
The Company also announces that the Board
approved a series of amendments to the stock option plan of the
Company, as amended and restated (the “Option Plan”), to, among
other things (i) increase the number of options grantable under the
Option Plan from 11,000,000 to 13,500,000, (ii) clarify (a) the
reasons for which an option may be automatically terminated or
cancelled, (b) the events for which an option (or the ability to
exercise such option) may be assigned or transferred, and (c) the
events for which the Board may accelerate the vesting of options or
terminate or cancel options, and (iii) make a series of
“house-keeping” amendments. A summary description of the Option
Plan, as amended, will be included in the management information
circular for the next annual general meeting of shareholders of the
Company. No options are being granted to directors or officers at
this time.
About Mason Graphite
Mason Graphite is a Canadian corporation
dedicated to the production and transformation of natural graphite.
Its strategy includes the development of value-added products,
notably for green technologies like transport electrification. The
Company also owns 100% of the rights to the Lac Guéret graphite
deposit, one of the richest in the world. The Company is managed by
an experienced team cumulating many decades of experience in
graphite, covering production, sales, as well as research and
development.
For more
information: www.masongraphite.com
Mason Graphite Inc. on behalf of the Board of
Directors:
“Peter Damouni”, Executive Director
Mason Graphite Inc.
Ana Rodrigues at info@masongraphite.com or
1 (514) 289-3580
Head Office: 3030, boulevard Le Carrefour, suite
600, Laval, Québec, Canada, H7T 2P5
Cautionary Statements
This press release contains "forward-looking
information" within the meaning of Canadian securities legislation.
All information contained herein that is not clearly historical in
nature may constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: (i)
volatile stock price; (ii) the general global markets and economic
conditions; (iii) the possibility of write-downs and impairments;
(iv) the risk associated with exploration, development and
operations of mineral deposits; (v) the risk associated with
establishing title to mineral properties and assets; (vi) the risks
associated with entering into joint ventures; (vii) fluctuations in
commodity prices; (viii) the risks associated with uninsurable
risks arising during the course of exploration, development and
production; (ix) competition faced by the Company in securing
financing for its project; (x) access to adequate infrastructure to
support mining, processing, development and exploration activities;
(xi) the risks associated with changes in the mining regulatory
regime governing the Company; (xii) the risks associated with the
various environmental regulations the Company is subject to; (xiii)
risks related to regulatory and permitting delays; (xiv) risks
related to potential conflicts of interest; (xv) the reliance on
key personnel; (xvi) liquidity risks; (xvii) the risk of potential
dilution through the issue of common shares; (xviii) risks related
to the Company’s intention not to declare dividends in the near
term; (xix) the risk of litigation; (xx) risks related to research
and development generally and the commercialization of any
innovative solution; and (xxi) risk management.
Forward-looking information is based on
assumptions management believes to be reasonable at the time such
statements are made, including but not limited to, continued
exploration activities, no material adverse change in metal prices,
exploration and development plans proceeding in accordance with
plans and such plans achieving their stated expected outcomes,
receipt of required regulatory approvals, and such other
assumptions and factors as set out herein. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such forward-looking
information. Such forward-looking information has been provided for
the purpose of assisting investors in understanding the Company's
business, operations and exploration plans and may not be
appropriate for other purposes. Accordingly, readers should not
place undue reliance on forward-looking information.
Forward-looking information is made as of the date of this press
release, and the Company does not undertake to update such
forward-looking information except in accordance with applicable
securities laws.
Neither 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.
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