Westwater Resources (WWR) had shot up $1.5 to $15 long ago was an executive order by the president to secure supply of things like graphite inside of the US. Currently 0% of our graphite is produced in this country (we have literally no mining, production, or synthetic production here) and it was seen as a problem since it’s important and a bunch comes from China. Based on my DD, the stock went dormant since then as they were awaiting business moves.
Just yesterday they made a big announcement with the first U.S. graphite production facility, announced by the governor of Alabama to be in the great state of Alabama near what I understand to be the U.S.’s largest graphite deposit (owned by Westwater Resources I believe). The plant is not a MINE, the mine is coming later, these guys are buying the mined graphite (not ready for use at all in products) and bringing it up to usable purity, then they plan to bring the mine up to self-feed.
These people are the ONLY people inside the united states producing graphite. Graphite is one of only two forms of carbon found in the earth’s crust, the other being diamonds. Synthetic graphite is possible but currently approx. 50% more expensive (just released June 4th 3 weeks ago by white house review) and it’s made from coke stock feed from coal or some shit, but these people at Westwater Resources are also approaching that angle which I like, they can work from mined graphite and also pivot to synthetic graphite if it becomes cheaper. Anything from 70-200 lbs. of graphite per typical car up to like 400 lbs. for the new Ford lightning.
There are a few other companies like NMG trying to produce graphite, they are all about similar size and nascent, caps in the 50-350m range, Westwater Resources is at 170m. Westwater is the only US, major exchange listed (NYSE) company that seems more stable and legit where as the other ones seem like hedge fund backed positions that just shut down in 9 months, this company had actually existed.
Battery production is only going to grow in the US especially with Biden’s whole $170B EV plan where he plans to make the US an electric vehicle leader. Westwater just happens to be the right company at the right time, getting lucky and benefitting from world events and developments of the economy. I think this really could be a gem in the rough.
