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Wednesday, November 25, 2020

Graphite Energy Corp (OTCMKTS:GRXXF) On a Major Bull Run

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Graphite Energy Corp (OTCMKTS:GRXXF) has been on a rampage to the upside since trading started in earnest at the outset of 2018. The stock has basically doubled in the past two months and volume is growing powerfully during the run. The theme here is about graphite exploration and production. As we understand it, graphite is starting to become a tertiary play on the electric vehicle theme, along with lithium and cobalt, as well as some apparent applications for solar energy engineering.

In that vein, the company just announced that it has signed a drilling contract with George Downing Estate Drilling Ltd. of Abitibi, Quebec, to start drilling at its Lac Aux Bouleaux Graphite Property (the “LAB Property”) on or about March 10, 2018. According to the release, “the drilling program is a follow-up to the promising results from the Company’s recently completed exploration work which confirmed the presence of high grade large flake graphite in the range of 2.20% to 22.30% graphite carbon (Cg) in selected grab samples (see January 15, 2018, news release).”

Graphite Energy Corp (OTCMKTS:GRXXF) casts itself as a mining company that is focused on developing graphite resources.

Graphite is one of the most in demand technology metals that is required for a green and sustainable world. Graphite Energy Corp. has state-of-the-art mining technology that is friendly to the environment. Our mine, located in Quebec Canada, has historically been a natural resource for graphite.

With the demand for graphite growing on some of the most prominent and cutting edge industries such as solar and lithium batteries in electric cars and robotics, we have updated our technology to meet the demands of the future.

In short, Graphite Energy Corp operates as an exploration mining company. The company explores graphite and was founded in 2016. In addition, the company is based in Vancouver, Canada.

According to company materials, “Graphite Energy Corp. is a Canadian-based issuer listed on the Canadian Securities Exchange. It is currently engaged in the business of exploration of mineral properties in Canada and holds the right to acquire a 100% interest, subject to certain royalties, in and to the Lac Aux Bouleaux Graphite Property located near the town of Mont-Laurier in Southern Quebec. The Lac Aux Bouleaux Graphite Property consists of 14 claims covering an area of 738.12 hectares. The Company’s objective is to explore and, if warranted, develop the Lac Aux Bouleaux Graphite Property.”

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As noted above, the name has started to run as part of a graphite theme. In its latest briefing, the company notes that drilling at its Quebec location will be focused around the old graphite pit area — in addition to other geophysical targets — which was the center of exploration work completed 30-40 years ago.

Management also noted that they will be providing another update on progress before long, which will be interesting to scan.

As noted in the company’s most recent release, “the technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a Qualified Person as defined by National Instrument 43-101, of Geomap Exploration Inc. Mr. Pirzada is a member of Engineers and Geoscientists of British Columbia and holds a restricted permit for the Order of Geologists of Quebec (OGQ). He also serves as the President and Chief Executive Officer of the Company.”

Traders will note 29% during the past month in terms of shareholder gains in the company. What’s more, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 12% beyond what we have been seeing over the larger time frame.

Now commanding a market cap of $22.3M, GRXXF has virtually no cash on the books, which stands against virtually no total current liabilities. The company is pre-revenue at this point. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $GRXXF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $GRXXF, either long or short, and we have not been compensated for this article.

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