Westwater Resources Provides Progress Update On Definitive Feasibility Study
Westwater Resources Inc. (NYSE American: WWR) (“Westwater” or the “Company”), a battery grade natural graphite development company, today provides an update regarding progress in its Definitive Feasibility Study (“DFS”) for its Coosa Graphite Project’s production facility planned for construction in Kellyton, Alabama.
The Company’s ongoing marketing activities have revealed a rapidly increasing interest in greater amounts of battery-grade graphite for electric vehicles. As a result, the Company has asked its consultants to evaluate increased production of Coated Spherical Purified Graphite as part of its DFS. This interest and added scope has the potential to increase the value of the Coosa Graphite Project. This added scope has resulted in a slight delay in the completion of the DFS.
“We believe ensuring the DFS will accurately reflect increasing market demand is a critical element to the design of the processing facility, and integrating this new information takes time. As a result, Westwater now expects the DFS to be completed in the fourth quarter of 2021,” said Chris Jones, President and CEO of Westwater. “This additional market interest indicates positive potential for Westwater’s Graphite business.”
In that regard, the Company’s marketing efforts have now engaged with more than 40 potential customers, and have resulted in 15 new non-disclosure agreements with various battery manufacturers, automotive Original Equipment Manufacturers (OEM’s), and battery developers. At this time, 10 samples have been sent to potential customers for testing. Testing samples for electrical properties and performance is the first step in qualification, and is a critical first step for developing customers for our products.
About Westwater Resources Inc.
Westwater Resources Inc. (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s primary project is the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama.
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