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Nouveau Monde Graphite Up 1.7% In US Premarket As Nears Declaring Phase 2 Matawinie Mine Final Investment Decision

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Nouveau Monde Graphtite (NOU.TO) expects to declare a final investment decision (FID) for the Phase 2 Matawinie Mine as financing nears completion, the company said on Wednesday.

With contemplated total gross proceeds of approximately US$645 million, NMG expects to declare a positive final investment decision upon closing of private placements and the satisfaction of released conditions of a bought deal public offering following shareholders' approval, it added.

The company has begun construction activities at the Matawinie site and is advancing engineering and procurement of services and equipment. Major contracts awarded represent over 50% of the project's capital expenditure and are within estimates of the 2025 Matawinie Mine Feasibility Study, a statement added.

Nouveau Monde is also advancing the retrofit plan of the recently acquired brownfield property for the 13-ktpa Becancour Battery Material Plant.

At the end of the period, the company had a cash position of $57.3 million.

Nouveau Monde shares were last seen up 1.8% in US premarket, having been down US$0.01, to US$1.96 a short time ago.

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