Source: Streetwise Reports 06/02/2020
Shares of Westwater Resources traded higher on greater than 100-times average daily volume after the company reported that positive independent test results on ULTRA-PMG™ demonstrated successful simulated full-scale processing of battery graphite.
Energy materials development company Westwater Resources Inc. (WWR:NASDAQ) today announced that “independent testing of its ULTRA-PMG™ battery graphite material has shown outstanding resistivity values as a conductive additive.”
Westwater Resources’ President and CEO Christopher M. Jones commented, “This milestone achievement is a critical step in developing our battery graphite business. We have shown that one of the key products in our business plan – purified micronized graphite (ULTRA-PMG™) – can be produced using proprietary processes that we intend to utilize in our pilot program later this year. Successful performance testing demonstrates that we can manufacture our ULTRA-PMG™ as a premium-grade, conductive enhancement material for all types of batteries at larger scale.”
The company advised that its “ULTRA-PMG™ product has been produced by laboratory-scale equipment simulating the full-scale processing flowsheet and that it has been working with Dorfner AnzaPlan in Germany to commercialize processing technology to produce various sizes of ULTRA-PMG™ products.”
Test samples were independently tested by Polaris Laboratories in order to evaluate the performance of the product. The testing method included resistivity testing that utilizes “4T sensing” which the firm noted is a battery industry standard for measuring resistivity.
The company indicated that the results from testing demonstrated very desirable resistivities in the first simulation samples and for the finer size ULTRA-PMG™ in particular. The firm added that the results show superior or comparable resistivity values compared to other manufacturers and that Westwater’s ULTRA-PMG™ products can be used as conductivity enhancement material by the battery industry.
Westwater Resources is a developer of energy-related materials based in Centennial. Colo. The company listed that its battery-materials projects include the Coosa Graphite project, which it claims is the most advanced natural flake graphite project in the contiguous U.S. and the associated Coosa Graphite mine located in east-central Alabama. The firm also maintains lithium mineral properties in prospective lithium brine basins in Nevada and Utah and uranium projects in Texas and New Mexico. Westwater Resources’ commodity portfolio includes graphite, vanadium and lithium along with a strong position in uranium leveraged to higher future prices.
Westwater Resources began the day with a very small market capitalization of around $11.1 million with approximately 5.568 million shares outstanding. WWR shares opened 110% higher today at $4.21 (+$2.21, +11.05%) over yesterday’s $2.00 closing price. The stock has traded today on extremely high relative volume of more than 23 million shares between $2.50 and $4.26 per share and is currently trading at $2.57 (+$0.57 +28.50%).
Sign up for our FREE newsletter at: www.streetwisereports.com/get-news
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
( Companies Mentioned: WWR:NASDAQ,
)