04:31 PM EDT, 06/27/2024 (MT Newswires) -- Nouveau Monde Graphite ( NMG ) , trading near 52 week lows, on Thursday released a corporate presentation offering shareholders at its annual meeting with an update on the company's key projects, including an "advancement" of its business strategy.

The company also provided an update on offtake agreements with anchor customers Panasonic Energy a unit of Panasonic Holdings Corporation, and General Motors Holdings, a wholly owned subsidiary of General Motors, additional commercial engagement, as well as a growth plan.

Eric Desaulniers, Noveau Monde's chief executive in a statement said: "Foundational milestones attained since the beginning of the year have enabled us to position NMG as a leading active anode material producer with solid commercial partnerships and 100% ownership of North America's two largest and most advanced projected natural graphite operations. Our team is now actively advancing engineering to reflect our Anchor Customers' product specifications and defining execution plans to deliver on our Phase 2, the Matawinie Mine and the Becancour Battery Material Plant."

The company said it is currently updating the results of the feasibility study for its integrated ore-to-anode-material Phase 2 to reflect the latest technological advancements, specific requirements from Anchor Customers, budget optimization, and other project planning developments. It added: "Outputs from this exercise will support project financing as NMG continues discussions with multiple governmental agencies and programs, strategic investors, and lenders in view of the final investment decision. Preliminary work on each site provides a strong footing for launch of construction once minimum financing is reached. The company has assembled its core owner team and has selected an integrated project team model to ensure greater control over the project's direction as well as reduced project management and overall capital costs."

The company said it is actively engaging with other tier-1 potential customers for offtake agreements on the balance of its Phase-2 active anode material production accompanied by strategic investments. In addition, it said, the recent acquisition of the Uatnan Mining Project, a key asset to underpin NMG's Phase 3, provides a scalable commercial profile aligned with the western market growth set to reach nearly 2.7 TWh by the end of the decade. The company has initiated the assessment of industrial sites for the establishment battery material plants to refine this production, including in Quebec, Europe and the U.S., close to its potential customer base.

Nouveau Monde shares closed down $0.04, or 1.5%, to $2.57 on the Toronto Stock Exchange, near its 52-week low of $2.55.