Northern Graphite Closes C$1.35 Million Financing to Advance Quebec Battery Anode Facility

Northern Graphite ( (TSE:NGC) ) has provided an update.

Northern Graphite has raised C$1.35 million through a non-brokered private placement of 10.8 million common shares at C$0.125 each, completing a previously disclosed C$2.2 million financing package. Led by follow-on investment from The BMI Group, the proceeds will fund a feasibility study for Northern’s planned battery anode material facility at Baie-Comeau, Québec, and provide working capital, bolstering the company’s mine-to-market strategy and its role in building North American capacity for processing graphite into battery-grade anode material. The Baie-Comeau project, located at a redeveloped former paper mill site within BMI’s Norderra industrial hub, is positioned to offer a faster route to market than a greenfield build, support Québec and Canada’s critical minerals strategy, and create regional jobs, further cementing Northern’s strategic importance in the EV and energy transition supply chain.

The most recent analyst rating on (TSE:NGC) stock is a Hold with a C$0.15 price target. To see the full list of analyst forecasts on Northern Graphite stock, see the TSE:NGC Stock Forecast page.

Spark’s Take on TSE:NGC Stock

According to Spark, TipRanks’ AI Analyst, TSE:NGC is a Neutral.

Northern Graphite’s overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, negative margins, and high leverage. Technical analysis further supports a bearish outlook with weak momentum and oversold conditions. The valuation is unattractive due to negative earnings and lack of dividends. These factors collectively suggest a high-risk investment with limited upside potential.

To see Spark’s full report on TSE:NGC stock, click here.

More about Northern Graphite

Northern Graphite is a Canadian company listed on the TSX Venture Exchange and is currently the only flake graphite producer in North America. It aims to become a global leader in natural graphite and high-value graphite products used in the green economy, including battery anode material for electric vehicles, fuel cells, graphene applications and advanced industrial technologies. Its asset base includes the producing Lac des Iles mine in Quebec, the large Bissett Creek project in Ontario and the fully permitted Okanjande mine in Namibia, all hosting battery-quality graphite and located in politically stable jurisdictions with established infrastructure.

YTD Price Performance: 10.0%

Average Trading Volume: 345,767

Technical Sentiment Signal: Buy

Current Market Cap: C$24.32M

Find detailed analytics on NGC stock on TipRanks’ Stock Analysis page.