It's a surprise to see this nice gap up a gain of about 13% to 3.04 at a decent volume of over 1.3 M shares. The latest NR was a minor clarification issued on Monday 26 March (see below) following the NR on Friday 23 Friday on the closing of the PP for $10.5M. Perhaps, it has been coiled up during the last few days at an average price of about 2.7 hence it's just time for the SP to snap...up. Anyone else has additional info? Anyone out there? It's kindda lonely anchoring this by myself. I picked NGC over other companies for its "down-to-earth" strategy by taking the usual sytematic (i.e. not as exotic compared to others in the same business) approach leading to production of large/jumbo flake graphite. Production from a low-capital cost (about $70M) processing facility is planned for 2013.
There is a very good chance for NGC to be the first company to get out of the starting gate to sell high quality graphite which is required for making Li-ion batteries for e-cars, among other things. It may sound like a low-tech operation, but it's quite profitable. It's would be better to have a "bird in hand" rather than "many in the bush".
Press release from Marketwire
Northern Graphite Clarifies Private Placement Finder Fees