Nouveau Monde Graphite (TSXV: NOU) is evaluating a potential listing of the company’s shares in the U.S., on either the NYSE or the Nasdaq market.
“With several of the world’s leading automakers operating in the U.S., it is only logical that Nouveau Monde move to align its investor base with that of its targeted customers," chairman Arne Frandsen stated in a press release. "If a listing is obtained, Nouveau Monde is likely to be one of the largest battery grade graphite companies listed in the U.S."
Nouveau Monde, which is developing battery anode materials in Quebec, recently announced plans to begin early construction at its Matawinie graphite project, following key approvals from the provincial government.
The Matawinie mine is set to be the Western world’s largest graphite mine, currently authorized to produce 100,000 tonnes of graphite material per year.
"The addition of a listing on the NYSE or Nasdaq will further enhance the company’s U.S. presence. With our strategic use of hydroelectricity and plans to rely on a fully electrical mining fleet, Nouveau Monde is uniquely positioned to deliver a North American source of carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets, with full-scale commercial production targeted for 2023," president and CEO Eric Desaulniers added.
In connection with the potential U.S. listing, Nouveau Monde has scheduled a special shareholders meeting on March 23, seeking approval for a share consolidation at a ratio that will result in a post-consolidation price that meets the listing requirements for the selected U.S. stock exchange.
The company anticipates its stock to begin trading in the U.S. during the second quarter of this year, subject to all necessary approvals.
Shares of Nouveau Monde fell 3.2% by 1:15 p.m. Tuesday in Toronto. The company has a market capitalization of $882.8 million.
This story first appeared on www.MINING.com.