- Both Nouveau Monde Graphite (TSXV:NOU) and Ceylon Graphite (TSXV:CLY) have now produced spherical graphite processed from their mines
- Highly reactive spherical graphite is required to produce lithium-ion batteries
- However, unlike Nouveau Monde, Ceylon’s graphite has not yet undergone full testing to determine whether it meets all lithium-ion battery requirements
- Ceylon Graphite (CYL) remained steady today, with shares trading for C$0.21
- Nouveau Monde Graphite (NOU) is up 4.7 per cent, with shares trading for $0.25
Two separate TSX venture companies today announced they have achieved high-level spherical graphite results.
Both Nouveau Monde Graphite (TSXV:NOU) and Ceylon Graphite (TSXV:CLY) have received spherical grading for their mined and processed graphite.
This is a step forward for both companies as spherical graphite is used in lithium-ion batteries. The increased surface area in spherical graphite results in more efficient reactions within the batteries.
Nouveau Monde currently operates a graphite mine in Quebéc and has spent nearly two years working with lithium battery researchers to produce battery-grade graphite.
Eric Desaulniers, President and CEO of Nouveau Monde, considers this a significant milestone for the company.
“Everything is now in place for us to move forward with the demonstration of the innovative purification process developed by our R&D team.”
Ceylon Graphite rapidly began production at a Sri Lanka-based mine in December. Ceylon has access to a high-grade graphite vein that is rarely found outside of Sri Lanka.
Consequently, the company requires less costly purification methods to attain the high-grades required for lithium ion-batteries.
A third party tested the spheronization of Ceylon’s processed graphite. The party determined that the graphite falls within the range of similar products.
Unlike Nouveau Monde, Ceylon’s graphite has not yet undergone full testing to determine whether it meets all lithium-ion battery requirements.
However, Ceylon was quick to point out a number of studies that suggest vein-graphite more naturally displays the desired electromechanical attributes battery manufactures require.
Ceylon Graphite (CYL) remained steady today, with shares trading for C$0.21 at 11:41am.
Nouveau Monde Graphite (NOU) is up 4.7 per cent, with shares trading for C$0.25 at 11.43am.