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Graphite One

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Graphite One Inc.

Investor website: https://www.graphiteoneinc.com/

About

Graphite One Inc. is focused on developing its Graphite One Project, aiming to become a U.S. producer of high-grade anode active materials integrated with a domestic graphite resource. The Project includes mining at the Graphite Creek property, which is the largest known flake graphite resource in the U.S., natural graphite processing with patented technologies, artificial graphite manufacturing, and anode active material manufacturing to capture economic benefits.

Verified company data

Cash position
$3,215,914
Shares outstanding
208,967,736
Fully diluted shares
277,488,847
Mineral resource
The Mineral Resource estimate for Graphite Creek was updated with data through the 2024 drilling program. The methodology used was the same as that described in the PFS. A lower cut-off grade of 2% was used for the 2022 and 2024 resource. The FS Mineral Resource estimate for Graphite Creek is presented in Table 4 and is as of March 25, 2025. | | | | | | --- | --- | --- | --- | | | **Tonnage**<br>**(M tonnes)** | **%Cg** | **Cg**<br>**(M Tonnes)** | | Measured | 5.1 | 5.3% | 0.272 | | Indicated | 99.6 | 4.5% | 4.523 | | **_Measured + Indicated_** | **_104.7_** | **_4.6%_** | **_4.796_** | | Inferred | 268.1 | 4.3% | 11.568 | The 2024 Mineral Reserve estimate consists of 71.219 Mt of Proven and Probable material at an average diluted grade of 5.22% graphite, yielding 3.7 Mt of contained graphite. A variable cut–off grade between 2%-3% was used in calculating the proven/probable reserve. Table 6 shows the FS Mineral Reserve estimate for Graphite Creek as of March 25, 2025. | | | | | | --- | --- | --- | --- | | **Mineral Reserve Classification** | **Feasibility Study** | | **Tonnage** | **%Cg** | **Cg** | | **(M tonnes)** | | **(M Tonnes)** | | Proven | 4.1 | 5.8% | 0.238 | | Probable | 67.1 | 5.2% | 3.48 | | **_Proven and Probable_** | **_71.2_** | **_5.2%_** | **_3.717_** | The FS Mineral Reserve estimate and contained graphite are 71.22 Mt and 3.7 Mt, respectively, an increase of 48.72 Mt and 2.46 Mt over the reserve and contained graphite disclosed in the PFS.
Projects
["Graphite Creek: The Mine would produce an average of 175,000 tpy of graphite concentrate for the projected 20-year mine life. The deposit would be mined with conventional open pit mining methods including drilling, blasting, loading, and hauling. The strip ratio in the FS plan is 3.2:1 with an ore variable cut-off grade of 2-3% graphitic carbon and an average head grade of 5.2% graphitic carbon. The pit would be mined in five phases over a period of 20 years. One year of pre-stripping would occur prior to the start-up of the process facility. Ore will be hauled to a process facility to be built adjacent to the pit. Run of mine waste would be comingled with dewatered process tails and placed in waste dumps. The process facility would process an average of 10,000 tpd for 365 days per year. The flowsheet design is based on metallurgical test work conducted at SGS Canada Inc.’s facilities at Lakefield, Ontario. The flowsheet consists of a jaw crusher that feeds a semiautogenous grinding circuit. After grinding, the ore is subjected to a series of seven flotation and three regrind steps. The flotation/regrind steps are designed to recover the graphite at its largest possible flake size while still maintaining a concentrate with a graphitic carbon grade of greater than 95%. The graphite concentrate would be filtered and dried on site. The dried concentrate would be shipped by barge from Nome, Alaska to the STP in Ohio during the annual shipping season. The tails from the flotation circuit would be dewatered, comingled with the waste rock, and placed in a lined waste storage facility. Any drainage from the lined waste storage facility would be treated through a water treatment plant prior to discharge."]
Leadership
Doug Smith, B.Sc.EE, P.Eng., ICD.D Executive Chair & Director Mr. Smith has over 35 years of experience in the international coal industry as a senior executive and corporate director. He served as President, CEO, and Director of First Coal Corporation until its purchase by Xstrata Coal in 2011, where he then became General Manager of Xstrata Coal Canada from 2011-2013. During his time at First Coal, he raised over $50 million in equity and directed its sale to Xstrata. For the preceding twelve years, he served as President and Director of Andalex Resources, a private U.S. coal company until he successfully directed its sale in 2006. Anthony Huston President, CEO, & Director Mr. Huston is a successful entrepreneur with a background in the tech industry, with expertise in business development and finance. Having served as Managing Partner for both public and private companies, he has played an integral role in raising more than $150 million in his career. He has served as an advisor on financial and acquisition transactions various industries including resources, real estate, bio-technology, and information technology. Gordon Jang, CPA, CMA Chief Financial Officer Mr. Jang has over 25 years of experience in senior management roles with mid-to-large mining companies. He has a wealth of expertise in capital markets, M&A, SOX compliance, tax planning and compliance, external financial reporting, corporate restructuring, cost analysis and process improvements. Mr. Jang previously served as Vice-President of Finance and Accounting at Fortuna Silver Mines and, prior to that, held senior positions at Augusta Resources (acquired by Hudbay in 2014 for $540 million), EuroZinc Mining (acquired by Lundin Mining in 2006) and Pan American Silver. Mike Schaffner Chief Operating Officer Mr. Schaffner is an experienced mining operations professional, having been involved at every stage in the development process from design to start-up, into operations and closure. He previously worked at Ambler Mining where he oversaw engineering work for the Ambler pre-feasibility study, and managed the metallurgical test work program for the company’s drilling program. He joined Ambler after 15 years with Newmont Mining, growing his career to the level of General Manager at the Carlin Gold Mine, Cripple Creek, and Victor Mines. Mr. Schaffner’s operations are three-time winners of the National Mining Association’s Sentinels of Safety award, recognizing the U.S.’s safest mines for continuous injury-free operations. He also holds two patents related to bio-oxidation heap leaching. Kevin Torpy Senior Vice President, Operations Mr. Torpy is a mining engineer with over 29 years of experience developing, building, and operating mines, primarily in remote northern locations. Prior to joining Graphite One, he served as VP, Operations at Ambler Metals, an Arctic exploration project in Alaska. He held the same role Titan Mining Corp., where he oversaw the restructuring and operational turnaround of the Empire State Mine in Northern New York State. He also served as General Manager at Pretium Resources’ Brucejack Mine in British Columbia during the advanced exploration, construction, and startup phases of the project. His other Alaskan experiences includes the Kensington Mine, where he was Technical Services Superintendent through construction, and the Pogo Mine, where he was an Operations Engineer during the advanced exploration and construction phases. Zhengli (Andrew) Tan, M.SC.E Senior Vice President, Graphite Technology Mr. Tan has been an independent consultant to the carbon and graphite materials industry for the past eight years, with particular emphasis on manufacturing graphite anode materials and other advanced graphite products. He has over two decades of industry experience, including as General Manager of SGL Carbon Group’s graphite foil manufacturing plant in China and having held several technical positions in the industry in the United States and Canada. Rebecca Donald Senior Vice President, Finance Ms. Donald is a finance professional who previously served as VP, Finance at Ambler Metals. She played a pivotal role in establishing the company’s accounting processes and successfully oversaw the establishment of the Anchorage headquarters and computer network system. With a career spanning over two decades, she initially honed her financial acumen in the oil and gas industry before transitioning to the mining sector in 2020. During her tenure with BP Exploration (Alaska) Inc. from 2006 to 2020, she served in various financial capacities, showcasing her adaptability in diverse financial roles. Rebecca is committed to responsible resource development in Alaska and believes in fostering sustainable practices that prioritize safety, environmental stewardship, and contribute to the economic growth of the region. Lucille Carter Vice President, Community Relations Ms. Carter is an experienced executive in corporate governance, shareholder relations, and regional development. She leads Graphite One’s community engagement and relations strategy in support of advancing the company’s fully integrated U.S. graphite supply chain. She previously served in senior leadership roles for a major Alaska Native corporation, overseeing stakeholder engagement, workforce development, and strategic initiatives. She holds an MBA from Western Governors University and a Bachelor of Business Administration from the University of Alaska Anchorage and is currently pursuing her Juris Doctor degree. Kirsten Fristad Ph.D. Chief Geologist Dr. Fristad is an exploration geologist with over two decades of operational expertise in remote Arctic environments. She has spent the last decade in Alaskan mineral exploration following an early career in astrobiology research and space exploration. Prior to joining Graphite One, she worked in the Red Dog District and Pend Oreille for Teck Resources, the Johnson Tract for HighGold, and most recently led regional exploration in the Ambler VHMS Belt of the Brooks Range for Ambler Metals. In addition to Alaska, she has organized and led field programs in Svalbard, Siberia, and across the Western US. Fristad is an author on numerous peer-reviewed scientific publications on geologic processes, mineralized deposits, and environmental change. Fristad earned a Bachelor of Arts with Honors in Geology and Physics from Macalester College in St Paul, Minnesota and a PhD in Geology and Geochemistry from the University of Oslo in Norway.

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