Tom Yingling, President and CEO of GEM commented: “We continue to produce excellent drilling results, not just in terms of composition but also in terms of quality. With only about 10% of our property fully explored, we already have 550,000 tonnes (inferred + indicated) graphite resource and these new results will add to that.
As we work towards delivering a PEA, we are more than encouraged by our exploration results. With billions being invested in battery plants throughout North America, it is of crucial importance that the critical minerals needed to meet demand are available. That is what GEM is doing, ensuring LIB manufacturers will have a high quality, North American source of graphite.
We are positioned well and with more results to come out over the coming months, we are confident of generating substantial additional value, especially considering the $3.5 billion NPV our neighbors (Nouveau Monde Graphite | NYSE: NMG, TSXV:NOU) have produced on the back of their fully explored property.”
