What’s Going on with Nouveau Monde Graphite Inc.?
Nouveau Monde Graphite Inc. (NMG) announced today, July 29, that the Canadian mining company has commenced on-site construction work for its Québec-Based Matawinie graphite mining project. Pre-market this morning, NMG stock was trading at $7.17 a share, which matches yesterday's closing price.
What Does This Mean for NMG?
“This first milestone kick starts the construction of the Matawinie mine, as we strive to build the high-quality, ethical, and sustainable project that can cater to the growing EV and energy storage markets,” Nouveau Monde CEO Eric Desaulniers commented. “We have spent the past months refining our execution plan to carry out engineering, procurement, and construction activities safely and with a focus on cost and timeline efficiency.”
Site preparation for the Matawinie project, located 120 km north of Montréal, Québec, wrapped up during the second quarter of 2021. Once the development process is finished and the mine is up and running, the Matawinie graphite mining project is anticipated to become the biggest high-purity graphite production facility in the Western World.
NMG has a Short-Term Technical Rank of 36. Find out what this means to you and get the rest of the rankings on NMG!
Nouveau Monde Graphite Inc is a mineral exploration company. The company only operating segment is the acquisition, exploration, and evaluation of mining properties and all of its activities are conducted in Quebec, Canada. Its property includes Matawinie mining project. The company's products are used in Metallurgy, Energy and Engineering materials sector.
