Northern Graphite Corp V.NGC

Wonder where graphite anode material will come from?

[GripnRip]

STOCKHOLM/TORONTO (Reuters) - Swedish lithium-ion battery producer Northvolt said on Thursday it would open a $5.2 billion gigafactory in Quebec, the largest ever investment in the Canadian province and the latest in electric vehicle battery manufacturing capacity in the country.

The first phase of the construction of the Northvolt Six factory just outside Montreal will begin this year and it is expected to be operational in 2026.

 

Northvolt will invest $3.2 billion of the total with the local and federal government each contributing $1 billion, Northvolt Co-Founder Paolo Cerruti told Reuters.

The first phase will provide 30 gigawatt hours (GWh) of production capacity, before eventually expanding to 60 GWh with investments approaching $9 billion, said Cerruti, who will lead the project as CEO of Northvolt North America.

Northvolt already has several European factories and is among a handful of players building a domestic battery industry to fight off the dominance of Asian manufacturers.

It has raised more than $9 billion in debt and equity since 2017 in its bid to become Europe's biggest battery manufacturer, including $1.2 billion last month from investors including Canada Pension Plan and Ontario Municipal Employees Retirement System.

"We looked at 70 different sites at the beginning of this process," Cerruti said. "We were also looking at the United States but eventually Canada made it for the first factory."

He pointed to the availability of sustainable energy, access to skilled workers, proximity to natural resources and other factors such as the attitude of the governments as reasons for the decision.

The $369-billion U.S. Inflation Reduction Act (IRA) passed last year has prompted companies including Northvolt to look across the Atlantic, attracted by hefty subsidies and cheaper energy.

"IRA took the industry by surprise," Cerruti said, adding Northvolt had decided to put together a site selection team around a year ago, accelerating the process earlier in 2023.

Northvolt has more than $55 billion worth of contracts with mainly European customers such as BMW, Scania, Volkswagen and Volvo Cars.

Cerruti said the company had also secured an anchor customer in North America, but declined to name them.

"This size of investment and project can not happen if you don't have an anchor customer," he said.

[Harley103]

Great news and we get pounded lower with the ask side growing.I can't take anymore good news.

[1student]

Hello Harley103 What Kristy Liddicoat just confirmed for everybody and their cousins may have something to do with why NGC shares price simply hasn't been able to gain any upward traction. Apparently, the fact is, i.e. according to Kristy Liddicoat fact confirming statements recently issued on behalf of NGC, Lac des Illes mine was slated by NGC officers and directors to be closed in 2024

[youknowwhat]

Lac des Illes mine was slated by NGC officers and directors to be closed in 2024. 1student show where NGC officers and directors said that LDI was closing in 2024.    

[1student]

Here you go youknowwhat. Courtesy of GripnRip's more recent post and what was in fact stated by Kristy Liddicoat and contained therein. Post by GripnRip on Sep 28, 2023 11:35am Q & A with Kirsty Liddicoat What are the main updates at the Lac des Iles mine? The main takeaway on Lac des Iles is that it has moved from being a mine that was supposed to close in 2024 to

[youknowwhat]

Officers and directors Kristy is not a director.

[1student]

Christy Liddicoat is a representatives of the company and she made such a statement; and in in doing so Chrisy Liddicoat publicly stated and therin provided confirmation of such Northern Graphite Corporation officers and directors approved facts. Should the company officers and directors not issue a immediate retraction and requisite clarification with respect to such a NGC company

[1student]

youknowwhat, Kristy Liddicoat is in fact Northern Graphite Corporation Chief Operating Officer . After having to admit that you haven't the foggiest idea of Kristy Liddicoat's actual position as a officer of the company, exactly how ill informed do you feel right now youknowwhat? Experience Chief Operating Officer Northern Graphite Corp

[youknowwhat]

Ok COO but closure would be a BOD decision. She does not sit on the BOD. That was my whole point. There is also the CTO and Vice President of sales also neither of which sits on the BOD.  So I believe the COO may have made a slip up in the conversation.  Now why don't you tell us all about the massive dilution coming or better yet F off.

[Harley103]

I have noticed from time to time a large sell position shows up, either a blocker or something worse. The government entity has invited NGC to two overseas critical mineral conferences so I would think NGC is on their radar so why has no funding has been announced yet. Todays ask side was particularly heavy, are we being driven down so a company can buy in cheap or is a RTO in play.

[1student]

You, Harley103, stated "Todays ask side was particularly heavy, are we being driven down so a company can buy in cheap or is a RTO in play. It's now more than $0.25 later. Never the less, now you are coming around to the required understanding Harley103. Alas, it could be as I suggested, the NGC share price is being shaped up to be more reflective of the company book value to share

[1student]

You present as not having the foggiest idea of how a mining company is "OPERATED" - as in Chief Operating Officer representing NGC named Kristy Liddicoat. What's more you know and everyone here can determine that your bullpucky point about officers vs. directors sitting at the BOD is just that, bullpucky youknowwhat. Stop trying and failing to deflect from what I have been clearly