Nouveau Monde Graphite (NMG) Q4 2024 earnings summary

Executive summary

• Issued Updated Feasibility Study for Matawinie Mine and Bécancour Battery Material Plant, advancing both projects toward final investment decision (FID).

• Secured US$100M in equity investments from Panasonic, GM, CGF, and IQ, plus US$37.5M from Mitsui and Pallinghurst via private placements and convertible note settlement.

• Signed impact and benefit agreement with Atikamekw First Nation, securing consent for Matawinie Mine and ensuring environmental, employment, and financial benefit sharing.

• Ended 2024 with $106.3M in cash and cash equivalents, positioning for project financing and construction.

• Uplisted to the Toronto Stock Exchange in January 2025 after meeting listing requirements.

Financial highlights

• Net loss for 2024 was $73.3M, up from $56.0M in 2023, mainly due to the Lac Guéret property acquisition and higher engineering costs.

• Basic and diluted loss per share improved to $0.71 from $0.93 in 2023, reflecting a higher share count.

• Total assets increased to $204.1M from $123.9M, driven by cash inflows from financing and investments in property, plant, and equipment.

• Cash used in operating activities was $52.0M, and investing activities used $14.1M; financing activities provided $135.5M.

• Current assets of $114.0M and current liabilities of $47.0M as of year-end, with all short-term liabilities due within one year.

Outlook and guidance

• Advancing toward FID for both Matawinie Mine and Bécancour Battery Material Plant, with $1.6B in expressions of interest for project financing.

• Panasonic and GM committed to further equity investments totaling US$275M upon positive FID and satisfaction of conditions.

• Uatnan Mining Project to progress with feasibility study and environmental assessment, pending additional funding.

• Company expects continued negative cash flows until commercial production is achieved; significant additional financing required.