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Forbes
04-07-2025
- Entertainment
- Forbes
Historic July 4th Protest Posters Mirror Today's Issues
"Sixth Annual Fourth of July Smoke-In" created by Peter Bramley. Offset, 1975, Washington, DC Image courtesy of the Center for the Study of Political Graphics To mark the Fourth of July, the Center for the Study of Political Graphics (CSPG) has selected over a dozen political art posters that illustrate the holiday's history through protest, labor and class struggles, and demands for social justice, civil rights and protections for Democracy. 'Some of these posters are more than 50 years old, and yet the issues are the same,' says Carol Wells, founder of CSPG, which is based in Culver City. Founded in 1999, CSPG has amassed more than 90,000 posters from 100 countries. The organization recently expanded its website and now has close to 30,000 searchable political posters online. Its newest exhibition is 'Subvertisements: Using Ads & Logos for Protest & Solidarity, ' on display at Mercado la Paloma in downtown Los Angeles through July 11. According to press materials, the posters 'remix and parody well-known logos and advertisements to draw attention to social issues.' The 1975 poster, 'Sixth Annual Fourth of July Smoke-In, ' features founding father Benjamin Franklin smoking a reefer. It's a call for the sixth-annual Fourth of July music concert at the ellipse between the White House and the Washington Monument. 'Marijuana use became a symbol of the counterculture beginning in the 1960s, and many posters were produced to promote its use,' Wells says. Peter Bramley created the poster—he was first art director of the National Lampoon magazine. In 1967, Bramley and two friends founded New York City-based Cloud Studio, which blended three aesthetics: comics, commercial illustration and theater. Bramley died at age 60 in 2005. "Demonstrate July 4th. At the USS Coral Sea!" created by Rachael Romero / San Francisco Poster Brigade. Offset, 1980. San Francisco, CA Image courtesy of the Center for the Study of Political Graphics The following year, in 1976, Peace Press distributed a blue and white poster for a rally in Salazar Park, Los Angeles. It called for 'a bicentennial without colonies, freedom for all oppressed nations, full democracy and equality and jobs with a decent standard of living.' "4th Of July 1976" created by Peace Press; Artworks. Offset, 1976. Los Angeles, CA Image courtesy of the Center for the Study of Political Graphics 'The demands in this nearly 50-year-old bicentennial poster could have come from current demonstrations taking part across the country,' Wells says. "Born on the 4th of July" created by Repetitive Press; Jon Orlando; Celebrate People's History: IVAW Project Organizers; Justseeds Silkscreen, 2014 Toronto, Canada Image courtesy of the Center for the Study of Political Graphics A black-and-white poster featuring anti-war activist Ron Kovic was created in 2014 by Repetitive Press and Justseeds artists' cooperative. Jon Orlando took the photograph. Kovic, a U.S. Marine Corps veteran, was wounded and paralyzed in the Vietnam War. His best-selling 1976 memoir, Born on the Fourth of July, was adapted into a 1989 film of the same name, starring Tom Cruise. In the poster, Kovic is surrounded by uniformed soldiers and veterans making the peace sign to express their opposition to war. "Frederick Douglass: What, To The American Slave, Is Your Fourth Of July?" Artist Unknown. Offset, circa early 2000. United States Image courtesy of the Center for the Study of Political Graphics Satirizing Wealth And Power A 1939 William Gropper poster shows a child with a box of rockets labeled 'free assembly' and 'free press.' He holds a 'free speech' sparkler up to a pole where bureaucrats, bankers and millionaires have scrambled up, fearful of what the small boy holds. "Free Speech" created by William Gropper. Offset, circa 1939. New York, NY Image courtesy of the Center for the Study of Political Graphics 'This cartoon was made for the New Masses (1926-1948), an American Marxist magazine,' Wells says. 'William Gropper was a regular contributor. Although the graphic is over 85 years old, the issues it depicts could be taken straight out of today's headlines.' Gropper (1897-1977) was also a satirical cartoonist for the New York Tribune , and contributed to Vanity Fair. "Independence For Puerto" created by Rico Puerto Rico Solidarity Committee; Gonna Rise Again Graphics Silkscreen, circa 1976. San Francisco, CA Image courtesy of the Center for the Study of Political Graphics "Independence Day Celebration for Indochinese and Americans." Artist unknown, offset, circa 1973. Los Angeles, CA Image courtesy of the Center for the Study of Political Graphics "Women's Encampment for a Future of Peace & Justice" created by Tower Press. Offset, 1983. New York, NY Image courtesy of the Center for the Study of Political Graphics A Whittier College 1973 poster shows President Richard Nixon in caricature, his face swarmed by protesters carrying signs demanding an end to the Vietnam War. 'The hope, as expressed in the poster, is that the U.S. Independence Day would also be an independence day for Indochina, bringing peace and justice to citizens of both countries,' Wells says. "Smash Colonial Violence" TF; July 4 Movement to Free Dessie Woods. Created by Inkworks Press. Offset, Circa 1976. Printed in San Francisco, CA Image courtesy of the Center for the Study of Political Graphics "March and Rally" created by Juan Fuentes, Fits Printing. Offset, circa 1976. San Francisco, CA Image courtesy of the Center for the Study of Political Graphics A Poster Tied To Berkeley's 'People's Park.' A 1969 'Berkeley Independence Day' poster was produced shortly after the violent confrontation in 'People's Park' at the University of California, Berkeley. Students occupied the park in defiance of university plans to develop it. More than 6,000 people clashed with police and sheriffs who fired buckshot and tear gas into the crowds. One protester was permanently blinded, another killed, and many injured. The day became known as 'Bloody Thursday.' "Berkeley Independence Day" created by Frank Cieciorka; Gary Grimshaw; Jellyroll Press Offset, 1969. Berkeley, CA Image courtesy of the Center for the Study of Political Graphics The poster exemplifies the 'peace and love' ethic of the time with a soldier standing in solidarity with a civilian. "Free Berkeley" Artist Unknown. Silkscreen, circa 1970. Berkeley, CA Image courtesy of the Center for the Study of Political Graphics "March for Justice and Freedom for All Immigrants and Refugees" created by Roberto R. Pozos; POZOS Graphic Design. Offset, 1986, San Diego, CA Image courtesy of the Center for the Study of Political Graphics The 1986 poster 'March for Justice and Freedom for All Immigrants and Refugees' shows the Statue of Liberty framed by barbed wire. 'Every demand in this nearly 40-year-old poster could have come from the streets of Los Angeles during demonstrations in June,' Wells says. She cites the calls to action: Justice and freedom for immigrants and refugees. A stop to border violence. A stop to human exploitation. A stop to discrimination and harassment. The granting of political asylum/refugee status. A stop to scapegoating; the acknowledge of immigrant contributions. Wells draws attention to the poster's quotes that she believes are 'still powerful and relevant.' Among them: "Fighting for social justice, it seems to me, is one of the profoundest ways in which man can say yes to man's dignity..." —Cesar Chavez "...we must not only tolerate differences between individuals and between groups, but we should indeed welcome them and look upon them as an enriching of our existence ..." — Albert Einstein Roberto R. Pozos of POZOS Graphic Design created the poster.
Ya Biladi
21-05-2025
- Business
- Ya Biladi
Falcon Energy Materials and Fluoralpha partner to launch graphite processing plants in Morocco
UAE-based Falcon Energy Materials plc, a supplier of battery anode materials, has partnered with Fluoralpha S.A., a subsidiary of InnovX, to develop two key facilities for the production of coated spherical purified graphite (CSPG) at Jorf Lasfar. The collaboration was announced in a press release by Falcon Energy Materials on Tuesday. Fluoralpha, which specializes in the production of anhydrous hydrofluoric acid (AHF) from phosphate-derived fluorine, joins Falcon's strategic consortium to support both a pilot plant and a large-scale anode plant. The pilot facility, expected to begin construction in the second quarter of 2025, will produce approximately 100 kg of CSPG per day and will support Falcon in advancing product testing and securing offtake agreements. Fluoralpha will provide the site for the pilot plant within its industrial zone and supply AHF under a planned offtake agreement, helping to reduce logistical and safety risks associated with handling corrosive materials. Falcon has identified Park X—located adjacent to the Jorf Lasfar complex—as the preferred site for the larger anode plant due to its proximity to Fluoralpha, existing infrastructure, and the Port of Casablanca. Also owned by InnovX, Park X is dedicated to the design, development, and management of innovative and sustainable industrial parks. «We are very pleased to welcome Fluoralpha to our consortium», commented Matthieu Bos, Chief Executive Officer of Falcon. «With Fluoralpha on board, we have assembled a Tier One ecosystem in Morocco to deliver the first large-scale CSPG production facility outside of China».
Yahoo
20-05-2025
- Business
- Yahoo
Falcon Energy Materials plc Announces Strategic Partnership with Fluoralpha to Advance Anode Plant Development in Morocco
ABU DHABI, UNITED ARAB EMIRATES - May 20, 2025 (NEWMEDIAWIRE) - Falcon Energy Materials plc (TSX-V: FLCN) ("Falcon" or the "Company") is pleased to announce it has entered into an agreement with Fluoralpha S.A. ("Fluoralpha") to support the development of a pilot plant (the "Pilot Plant") and large-scale anode plant (the "Anode Plant") for the production of coated spherical purified graphite ("CSPG") at Jorf Lasfar, near Casablanca, in the Kingdom of Morocco ("Morocco"). HIGHLIGHTS Fluoralpha joins Falcon's strategic consortium, completing the industrial foundation needed to de-risk and accelerate the development of the Anode Plant; Fluoralpha is set to become Morocco's leading producer of anhydrous hydrofluoric acid ("AHF"), and a critical reagent in CSPG production; Falcon and Fluoralpha will negotiate an offtake agreement for AHF to support commercial production of CSPG at the Anode Plant; Fluoralpha will provide Falcon a site within its industrial perimeter for the Pilot Plant. "We are very pleased to welcome Fluoralpha to our consortium," commented Matthieu Bos, Chief Executive Officer of Falcon. "With Fluoralpha on board, we have assembled a Tier One ecosystem in Morocco to deliver the first large-scale CSPG production facility outside of China. The planned offtake agreement for reliable and local AHF is a major step in securing the critical inputs needed for the commercial production of CSPG." DETAILS Fluoralpha, A Strategic Partner in Advanced Chemicals Fluoralpha, a Moroccan-based company developed by INNOVX S.A ("INNOVX"), pioneers sustainable advancements in fluorinated products by leveraging Morocco's abundant phosphate rock-derived fluorine. Fluoralpha monetizes fluorosilicic acid ("FSA"), a by-product captured from the production of fertilizers, using a state-of-the-art facility to produce AHF (100% pure hydrofluoric acid) and synthetic fluorspar. Pilot Plant and Anode Plant Development at Jorf Lasfar Falcon has selected Morocco as the ideal and strategic location to develop the Pilot Plant and Anode Plant. AHF is a critical ingredient in the purification of graphite concentrate to produce CSPG. Proximity to Fluoralpha's operations significantly reduces logistical, operational and safety risks, especially when handling corrosive materials like AHF. Under the agreement, Fluoralpha will provide Falcon with a site within its industrial zone at Jorf Lasfar for the Pilot Plant (the "Site"). Falcon, anticipates starting construction of the Pilot Plant in Q2 2025, with commissioning targeted for H2 2025. The Pilot Plant will produce approximately 100kg of CSPG per day, enabling Falcon to supply product samples to potential customers and advance commercial offtakes discussions for the larger Anode Plant. "Our collaboration with Fluoralpha also opens the door to deeper engagement with Morocco's broader innovation ecosystem," added Mr. Bos. "We're committed not just to building a facility in Morocco, but to investing in Moroccan talent and creating long-term industrial value for the regional and national economy." Next Steps: AHF Offtake and Anode Plant Site Confirmation Falcon and Fluoralpha will negotiate and finalize an AHF offtake agreement to support full-scale CSPG commercial production. The parties have identified Park X a strategically located industrial site owned by INNOVX and located directly adjacent to the Jorf Lasfar industrial complex - as the preferred location for Falcon's Anode Plant. Its proximity to Fluoralpha, existing infrastructure and the Casablanca port make it an ideal base for scalable operations and export logistics. ABOUT FALCON ENERGY MATERIALS PLC Falcon Energy Materials plc (TSX-V: FLCN) aims to become a fully integrated supplier of battery anode materials. The Company's integrated business model would result in the creation of a mine-to-market active anode material producer, hosting a large high-purity graphite production mine in the Republic of Guinea, and a value-added, coated spherical purified graphite conversion facility in Morocco. With attractive operating costs, proximity to European end-markets and strong ESG credentials, the Company is poised to become a reliable supplier while promoting sustainability and supply chain transparency. Falcon is committed to generating sustainable, long-term benefits that are shared with the host countries and communities where it operates. ABOUT FLUORALPHA SA Fluoralpha pioneers sustainable advancements in the fluorinated products industry by leveraging Morocco's abundant phosphate rock-derived fluorine. Its mission is to unlock the transformative potential of fluorine, driving innovation that enhances global industries while prioritizing environmental stewardship. Founded on Morocco's rich fluorine reserves, Fluoralpha integrates cutting-edge technology and best-in-class standards to convert FSA into essential materials like AHF and synthetic fluorspar. These products play crucial roles across diverse sectors such as electric batteries, aluminium production, chemical manufacturing, and semiconductors. For additional information, please visit Falcon's website at or Fluoralpha's website at Contact:Matthieu BosPresident & CEO Email: Matt JohnstonIR AdvisorEmail: +971 2307 4013 Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains "forward-looking information" within the meaning of Canadian securities legislation and other statements that are not historical facts. Forward-looking statements are included to provide information about management's current expectations and plans that allow investors and others to have a better understanding of the Company's business plans and financial performance and condition. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "announce", "advance", "join", "complete", "accelerate", "set", "deliver", "plan", "secure", develop", "reduce", "anticipate", "target", "enable", "open", "commit", "invest", "create", "negotiate", "finalize", "identify", "make", "aim", "become", "commit" or variations of such words and phrases or state that certain actions, events or results "may", "could", "will", "would" or "might". Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to: (1) the formation of a strategic partnership between Falcon and Fluoralpha to support the development of the Pilot Plant and Anode Plant; (2) the impact of Fluoralpha joining Falcon's consortium; (3) the negotiation and finalization of an offtake agreement between Falcon and Fluoralpha for AHF to support the commercial production of CSPG at the Anode Plant; (4) the provision by Fluoralpha of a site within its industrial perimeter for the construction of the Pilot Plant; (5) the assembly of a Tier One ecosystem in Morocco to enable the delivery of the first large-scale CSPG production facility outside of China; (6) the role of the planned AHF offtake agreement with Fluoralpha in securing critical inputs for the commercial production of CSPG; (7) the selection of Morocco as the ideal location for the development of Falcon's Pilot Plant and Anode Plant; (8) the anticipated benefits of locating Falcon's facilities in close proximity to Fluoralpha's operations to reduce logistical, operational, and safety risks; (9) the provision by Fluoralpha of a site within its industrial zone at Jorf Lasfar for the development of the Pilot Plant; (10) the anticipated commencement of construction of the Pilot Plant in Q2 2025; (11) the expectation that the Pilot Plant will be commissioned and operational by H2 2025; (12) the planned production capacity of the Pilot Plant; (13) the use of Pilot Plant production to supply product samples to potential customers and advance commercial offtake discussions for the larger Anode Plant; (14) the anticipated collaboration between Falcon and Morocco's broader innovation ecosystem; (15) Falcon's commitment to building a facility in Morocco; (16) Falcon's commitment to investing in Moroccan talent and creating long-term industrial value for the regional and national economy; (17) the negotiation and finalization of an AHF offtake agreement between Falcon and Fluoralpha to support full-scale CSPG commercial production; (18) the identification of Park X as the preferred location for the development of Falcon's Anode Plant; (19) the expected logistical and operational benefits of locating the Anode Plant near Fluoralpha, existing infrastructure, and the Casablanca port for scalable operations and export logistics; (20) Falcon's aim to become a fully integrated supplier of battery anode material; (21) the creation of a mine-to-market active anode material producer through Falcon's integrated business model; (22) the development of a high-purity graphite production mine in the Republic of Guinea; (23) the development of a value-added, coated spherical purified graphite (CSPG) conversion facility in Morocco; (24) Falcon being poised to become a reliable supplier of anode materials while promoting sustainability and supply chain transparency, supported by attractive operating costs, proximity to European end-markets, and strong ESG credentials; and (25) Falcon's commitment to generating sustainable, long-term benefits to be shared with host countries and communities where it operates. Forward-looking information is based upon certain assumptions and other important factors and assumptions subject to significant business, geological, economic and competitive uncertainties and contingencies that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, (1) the Company's capacity to execute on its strategic and operational plans, including its ability to develop the Pilot Plant and Anode Plant on the anticipated timeline and budget; (2) stable political, social, and legal conditions in Morocco and Republic of Guinea and the absence of significant disruptions affecting operations due to civil unrest, regulatory changes, or other external factors; (3) that economic and market conditions, including interest rates, inflation, exchange rates, and commodity prices, remain consistent with current expectations; (4) the ability of Falcon to secure additional financing or strategic investment on favourable terms, if and when needed, to fund projects development; and (5) the assumption that no material adverse events will occur that prevent Falcon from achieving its objective of becoming a fully integrated supplier of battery anode materials. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits and mine plans for the Company's mining operations; (v) the risk associated with establishing title to mineral properties and assets including permitting, development, operations and production from the Company's operations being consistent with expectations and projections; (vi) there being no significant disruptions affecting the operations of the Company whether due to artisanal miners, access to water, extreme weather events and other or related natural disasters, labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; (vii) asset impairment (or reversal) potential, being consistent with the Company's current expectations; (viii) the Government of Republic of Guinea's ability to revoke the Lola Graphite Project exploitation permit; and (ix) the Company's ability to defend the Company's rights and investment in the Lola Graphite Project. In addition, readers are directed to carefully review the detailed risks and uncertainties described or referred to in the section entitled "Risk and Uncertainties" in the Company's management's discussion and analysis for the year ended December 31, 2024, as updated from time to time in the Company's interim management's discussion and analysis for its quarterly financial periods, each of which is filed on SEDAR+ at Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws. The Company qualifies all of its forward-looking statements by these cautionary statements. Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
Westwater Resources Announces First Quarter Business Updates and Date of Investor Call
Estimated Costs for the Kellyton Graphite Plant (Phase I) Remain at $245M CENTENNIAL, Colo., May 15, 2025--(BUSINESS WIRE)--Westwater Resources, Inc. (NYSE American: WWR), an energy technology and battery-grade natural graphite development company ("Westwater" or the "Company"), is pleased to announce its results for the first quarter ended March 31, 2025, and to provide business and financial updates. 2025 First Quarter Business Highlights Expected Phase I construction costs at the Kellyton Graphite Plant remain $245 million. Shipped a customer sample of over 800 kg produced on the qualification line at the Kellyton Graphite Plant. Increased the technical readiness of the Kellyton Graphite Plant. "Despite tariffs and an inflationary environment, we still expect the overall construction cost of Phase I to remain at $245 million, which includes a significant unutilized contingency," said Frank Bakker, Westwater's President and CEO. "This confidence reflects in part that 85% of the Phase I equipment has already been delivered." Kellyton Graphite Plant Total expected construction costs for Phase I of the Kellyton Graphite Plant remain at $245 million. During the first quarter of 2025, construction activities at the Kellyton Graphite Plant included the receipt of additional long-lead equipment components and the continued installation of equipment and structural steel. As of the end of the first quarter of 2025, we have received approximately 85% of the Phase I equipment, installed all micronization (sizing) and spheroidization (shaping) mills in the SG building, and completed the structural steel work. During the quarter ended March 31, 2025, Westwater operated its qualification line at the Kellyton Graphite Plant and produced a CSPG sample over 800 kg for one of our customers to conduct its pre-production cell trials and testing. Samples produced on the qualification line are representative of CSPG mass production. The Company expects that the operation of the qualification line will allow Kellyton to supply customers with bulk samples of CSPG in 1 to 10 mt batches while the Company completes the construction of Phase I of the Kellyton Graphite Plant. The line will also be used to train Westwater's operations team, which the Company expects will expedite the commissioning and startup of the Kellyton Graphite Plant. Debt Financing Update As previously announced, the Company is working to complete the syndication of a secured debt facility for approximately $150 million to finance the completion of construction of Phase I of the Kellyton Graphite Plant. During 2024, the Company executed a term sheet and received investment committee approval from the lead lender (a global financial institution), and since then we have been working with our investment banker to complete the syndication of the loan. Beginning in February, tariffs announced by the U.S. federal government, EU, Canada, Mexico, and China have created concerns regarding domestic EV adoption rates, and general market uncertainty in the capital markets. Recent protests at the location of our feedstock supplier have also impacted the syndication process. While our feedstock supplier has announced resolution of the protests and expects to be back in operations in the near term, Westwater is at an advanced stage in securing a backup feedstock supplier. During the first quarter, Westwater continued the process of syndicating the loan, which included advancing loan documentation, advancing the technical readiness level of Phase I, updating technical due diligence using an independent third-party engineering firm, responding to diligence requests from multiple lenders interested in joining the syndication, hosting interested lenders at the Kellyton Graphite Plant site in Alabama, and advancing the identification and selection of a backup feedstock supplier. No assurance can be given that the Company will ultimately enter into the secured debt facility. In April, Westwater received a letter of interest from Export-Import Bank of the United States ("EXIM") for its Kellyton Graphite Plant, under the "Make More in America" initiative and the "China and Transformational Exports Program." The letter of interest is separate from the Phase I debt syndication process discussed above and could be an additional source of funding. The progression from a letter of interest to a loan commitment from EXIM requires a formal application, and for EXIM to complete due diligence, underwriting and finalization of terms and conditions. Management remains focused on completing the debt facility and will continue to update investors as appropriate. Conference Call Management will host a conference call to provide a business update to investors following our annual shareholder meeting on May 27, 2025. Conference call time, and other details will be provided in advance of the call. About Westwater Resources, Inc. Westwater Resources, Inc. (NYSE American: WWR), an energy technology company, is focused on developing battery-grade natural graphite. The Company's primary project is the Kellyton Graphite Plant that is under construction in east-central Alabama. In addition, the Company's Coosa Graphite Deposit is the most advanced natural flake graphite deposit in the contiguous United States and located across 41,965 acres (~17,000 hectares) in Coosa County, Alabama. For more information, visit Cautionary Statement Regarding Forward-Looking Statements This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expected," "significant," "uncertainty," "adversely," "advancing," "updating," "assurance," and other similar words. Forward looking statements include, among other things, statements concerning: potential debt financing arrangements, including due diligence processes, terms and conditions in loan documents, lenders included in the syndication, and timing for closing; the construction and operation of the Kellyton Graphite Plant, the Company's Coosa Graphite Deposit and the costs, schedules, production and economic projections associated with them; the potential impact of feedstock supply on the financing or operation of the Kellyton Graphite Plant; policy decisions and tariffs by the federal government including their impact on capital markets in general and our business specifically; and plans for advance the letter of interest received from EXIM including any plans for filing a formal application and EXIM's efforts to complete due diligence, underwriting and finalization of terms and conditions. The Company cautions that there are factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of the Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Westwater's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: (a) the spot price and long‑term contract price of graphite (both flake graphite feedstock and purified graphite products) and vanadium, and the world-wide supply and demand of graphite and vanadium; (b) the effects, extent and timing of the entry of additional competition in the markets in which we operate; (c) our ability to obtain contracts or other agreements with customers; (d) available sources and transportation of graphite feedstock; (e) the ability to control costs and avoid cost and schedule overruns during the development, construction and operation of the Kellyton Graphite Plant and the Coosa Graphite Deposit; (f) the ability to construct and operate the Kellyton Graphite Plant and the Coosa Graphite Deposit in accordance with the requirements of permits and licenses and the requirements of tax credits and other incentives; (g) effects of inflation, including labor shortages and supply chain disruptions; (h) rising interest rates and the associated impact on the availability and cost of financing sources; (i) the availability and supply of equipment and materials needed to construct the Kellyton Graphite Plant; (j) stock price volatility; (k) government regulation of and tariffs associated with the mining and manufacturing industries in the United States; (l) unanticipated geological, processing, regulatory and legal or other issues we may encounter; (m) the results of our exploration activities at the Coosa Graphite Deposit, and the possibility that future exploration results may be materially less promising than initial exploration results; (n) any graphite or vanadium discoveries at the Coosa Graphite Deposit not being in high enough concentration to make it economic to extract the minerals; (o) our ability to finance growth plans including the completion of the financing for Phase I of the Kellyton Graphite Plant; (p) our ability to obtain and maintain rights of ownership or access to our mining properties; (q) current or new litigation or arbitration; (r) our ability to maintain and timely receive mining, manufacturing, and other permits from regulatory agencies; and (s) other factors which are more fully described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC. View source version on Contacts Westwater Resources, Inc. Email: Info@ Investor Relations Email: Investorrelations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
15-05-2025
- Business
- Business Wire
Westwater Resources Announces First Quarter Business Updates and Date of Investor Call
CENTENNIAL, Colo.--(BUSINESS WIRE)-- Westwater Resources, Inc. (NYSE American: WWR), an energy technology and battery-grade natural graphite development company ('Westwater' or the 'Company'), is pleased to announce its results for the first quarter ended March 31, 2025, and to provide business and financial updates. 2025 First Quarter Business Highlights Expected Phase I construction costs at the Kellyton Graphite Plant remain $245 million. Shipped a customer sample of over 800 kg produced on the qualification line at the Kellyton Graphite Plant. Increased the technical readiness of the Kellyton Graphite Plant. 'Despite tariffs and an inflationary environment, we still expect the overall construction cost of Phase I to remain at $245 million, which includes a significant unutilized contingency,' said Frank Bakker, Westwater's President and CEO. 'This confidence reflects in part that 85% of the Phase I equipment has already been delivered.' Kellyton Graphite Plant Total expected construction costs for Phase I of the Kellyton Graphite Plant remain at $245 million. During the first quarter of 2025, construction activities at the Kellyton Graphite Plant included the receipt of additional long-lead equipment components and the continued installation of equipment and structural steel. As of the end of the first quarter of 2025, we have received approximately 85% of the Phase I equipment, installed all micronization (sizing) and spheroidization (shaping) mills in the SG building, and completed the structural steel work. During the quarter ended March 31, 2025, Westwater operated its qualification line at the Kellyton Graphite Plant and produced a CSPG sample over 800 kg for one of our customers to conduct its pre-production cell trials and testing. Samples produced on the qualification line are representative of CSPG mass production. The Company expects that the operation of the qualification line will allow Kellyton to supply customers with bulk samples of CSPG in 1 to 10 mt batches while the Company completes the construction of Phase I of the Kellyton Graphite Plant. The line will also be used to train Westwater's operations team, which the Company expects will expedite the commissioning and startup of the Kellyton Graphite Plant. Debt Financing Update As previously announced, the Company is working to complete the syndication of a secured debt facility for approximately $150 million to finance the completion of construction of Phase I of the Kellyton Graphite Plant. During 2024, the Company executed a term sheet and received investment committee approval from the lead lender (a global financial institution), and since then we have been working with our investment banker to complete the syndication of the loan. Beginning in February, tariffs announced by the U.S. federal government, EU, Canada, Mexico, and China have created concerns regarding domestic EV adoption rates, and general market uncertainty in the capital markets. Recent protests at the location of our feedstock supplier have also impacted the syndication process. While our feedstock supplier has announced resolution of the protests and expects to be back in operations in the near term, Westwater is at an advanced stage in securing a backup feedstock supplier. During the first quarter, Westwater continued the process of syndicating the loan, which included advancing loan documentation, advancing the technical readiness level of Phase I, updating technical due diligence using an independent third-party engineering firm, responding to diligence requests from multiple lenders interested in joining the syndication, hosting interested lenders at the Kellyton Graphite Plant site in Alabama, and advancing the identification and selection of a backup feedstock supplier. No assurance can be given that the Company will ultimately enter into the secured debt facility. In April, Westwater received a letter of interest from Export-Import Bank of the United States ('EXIM') for its Kellyton Graphite Plant, under the 'Make More in America' initiative and the 'China and Transformational Exports Program.' The letter of interest is separate from the Phase I debt syndication process discussed above and could be an additional source of funding. The progression from a letter of interest to a loan commitment from EXIM requires a formal application, and for EXIM to complete due diligence, underwriting and finalization of terms and conditions. Management remains focused on completing the debt facility and will continue to update investors as appropriate. Conference Call Management will host a conference call to provide a business update to investors following our annual shareholder meeting on May 27, 2025. Conference call time, and other details will be provided in advance of the call. About Westwater Resources, Inc. Westwater Resources, Inc. (NYSE American: WWR), an energy technology company, is focused on developing battery-grade natural graphite. The Company's primary project is the Kellyton Graphite Plant that is under construction in east-central Alabama. In addition, the Company's Coosa Graphite Deposit is the most advanced natural flake graphite deposit in the contiguous United States and located across 41,965 acres (~17,000 hectares) in Coosa County, Alabama. For more information, visit Cautionary Statement Regarding Forward-Looking Statements This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as 'expected,' 'significant,' 'uncertainty,' 'adversely,' 'advancing,' 'updating,' 'assurance,' and other similar words. Forward looking statements include, among other things, statements concerning: potential debt financing arrangements, including due diligence processes, terms and conditions in loan documents, lenders included in the syndication, and timing for closing; the construction and operation of the Kellyton Graphite Plant, the Company's Coosa Graphite Deposit and the costs, schedules, production and economic projections associated with them; the potential impact of feedstock supply on the financing or operation of the Kellyton Graphite Plant; policy decisions and tariffs by the federal government including their impact on capital markets in general and our business specifically; and plans for advance the letter of interest received from EXIM including any plans for filing a formal application and EXIM's efforts to complete due diligence, underwriting and finalization of terms and conditions. The Company cautions that there are factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of the Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Westwater's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: (a) the spot price and long‑term contract price of graphite (both flake graphite feedstock and purified graphite products) and vanadium, and the world-wide supply and demand of graphite and vanadium; (b) the effects, extent and timing of the entry of additional competition in the markets in which we operate; (c) our ability to obtain contracts or other agreements with customers; (d) available sources and transportation of graphite feedstock; (e) the ability to control costs and avoid cost and schedule overruns during the development, construction and operation of the Kellyton Graphite Plant and the Coosa Graphite Deposit; (f) the ability to construct and operate the Kellyton Graphite Plant and the Coosa Graphite Deposit in accordance with the requirements of permits and licenses and the requirements of tax credits and other incentives; (g) effects of inflation, including labor shortages and supply chain disruptions; (h) rising interest rates and the associated impact on the availability and cost of financing sources; (i) the availability and supply of equipment and materials needed to construct the Kellyton Graphite Plant; (j) stock price volatility; (k) government regulation of and tariffs associated with the mining and manufacturing industries in the United States; (l) unanticipated geological, processing, regulatory and legal or other issues we may encounter; (m) the results of our exploration activities at the Coosa Graphite Deposit, and the possibility that future exploration results may be materially less promising than initial exploration results; (n) any graphite or vanadium discoveries at the Coosa Graphite Deposit not being in high enough concentration to make it economic to extract the minerals; (o) our ability to finance growth plans including the completion of the financing for Phase I of the Kellyton Graphite Plant; (p) our ability to obtain and maintain rights of ownership or access to our mining properties; (q) current or new litigation or arbitration; (r) our ability to maintain and timely receive mining, manufacturing, and other permits from regulatory agencies; and (s) other factors which are more fully described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC.
