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%).
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