Core Insights - Titan Mining Corporation is positioned to supply up to 50% of U.S. natural graphite demand, supported by federal backing under EXIM's "Make More in America" initiative [1][6] - The Kilbourne Graphite Project has demonstrated robust economics with an after-tax NPV(7%) of $513 million, a 37% IRR, and a payback period of 2.7 years [2][4] - The project is expected to create approximately 160 permanent jobs, contributing to local economic benefits in St. Lawrence County and New York State [9] Economic Highlights - The Kilbourne Project Study indicates a pre-tax NPV of $581 million and an after-tax NPV of $513 million [10] - The project has a pre-tax IRR of 38.9% and an after-tax IRR of 37.0% [10] - Initial capital expenditure is estimated at $156 million, with a life of mine OPEX of $886 million [10][12] Production and Resource Details - The Kilbourne Project hosts an inferred mineral resource of 22.4 million tons grading 2.91% Cg, with significant exploration upside as only 30% of the known strike length has been drilled [7][18] - Average production is projected at approximately 40,000 metric tonnes per annum of graphite concentrate, which aligns with nearly 50% of current U.S. demand [4][7] - The project will utilize a flotation-based concentrator, achieving 95% Cg at approximately 90% recovery [7] Government Support and Financing - EXIM has approved an additional $5.5 million of non-dilutive funding to accelerate feasibility work at Kilbourne [2][4] - A non-binding Letter of Interest for up to $120 million of project financing has been issued by EXIM, expected to cover the majority of construction capital [2][4] Strategic Importance - The Kilbourne Project is positioned as a cornerstone of U.S. graphite supply, enhancing domestic supply chains for strategic minerals essential to national security [6][9] - Titan's operations are expected to support U.S. defense and semiconductor supply chains through the development of a multi-metal critical materials complex [4][6]

Core Insights - Falcon Energy Materials plc is making significant progress in constructing its pilot plant in Jorf Lasfar, Morocco, which positions the company as a leader in developing large-scale, high-purity coated spherical purified graphite (CSPG) for the global battery industry outside of China [1][6][11] - The pilot plant is on track for completion and commissioning in Q4 2025, which is crucial for securing long-term offtake agreements for Falcon's proposed 25,000 tonnes per annum (tpa) commercial scale anode facility [2][4][10] Group 1: Pilot Plant Development - The pilot plant is being developed within the industrial complex of Falcon's strategic partner Fluoralpha S.A. at Jorf Lasfar, benefiting from advanced industrial infrastructure and proximity to European and North American markets [4][6] - Civil construction is progressing steadily, with the completion of the pilot plant building and ancillary infrastructure expected by late 2025 [5][10] - The pilot plant has been fully commissioned and tested at Hensen Graphite Carbon Corporation's facility in China, ensuring optimized performance before shipment to Morocco [8][10] Group 2: Customer Engagement and Production - The first CSPG samples have been produced and delivered to three potential customers, who have initiated large-scale qualification programs [1][9] - Two distinct specifications of CSPG have been tailored to customer requirements, with 50kg sample batches currently under evaluation [9] - Falcon has procured and assembled all necessary equipment to produce large-scale CSPG samples for potential customers [8][10] Group 3: Strategic Partnerships and Future Outlook - The strategic partnership with Hensen and Fluoralpha is aimed at developing a comprehensive industrial value chain to lead the global battery market [11] - Falcon aims to become a fully integrated supplier of battery anode materials, with plans for a high-purity graphite production mine in Guinea and a CSPG conversion facility in Morocco [11][12] - The company is committed to sustainability and supply chain transparency, supported by attractive operating costs and strong ESG credentials [12]