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Great Lakes Graphite receives more purchase orders for micronized graphite

The company is working to establish a supply agreement for future orders.
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Great Lakes Graphite is producing micronized graphite at this Matheson mill owned by Northfil Resources Ltd.

Great Lakes Graphite is continuing to field demand for its micronized graphite, produced at its facility in Matheson.

The company said on Jan. 18 it had received three new purchase orders for 60 tons of micronized graphite from the same U.S. company that purchased more than 420 tons of the material in 2016.

“We are making excellent progress with a number of product qualifications that are currently underway and are looking forward to expanding our customer base,” said Mike Coscia, the company’s senior vice-president of sales, in a release.

“In the meantime, we are extremely fortunate to have a steady customer who is now routinely purchasing significant quantities of graphite from us,” Coscia added.

“We are continuing to work towards the establishment of a supply agreement and are pleased to continue to conduct business on a purchase order basis in the meantime. We have now received a total of 23 purchase orders from this customer.”

The announcement follows an earlier report that the company has granted options to purchase 5,685,000 common shares of the company exercisable on or before January 16, 2022, with an exercise price of $0.08 per share, to certain directors, officers and consultants of the company.

Graphite is used in a range of specialized products, such as lithium-ion batteries for electric vehicles and fuel cells for energy storage.

The Matheson facility used by Great Lakes Graphite, located east of Timmins, is owned by Northfil Resources Ltd.

Great Lakes Graphite is headquartered in Toronto, but also has an office in Boston, Mass.