Nouveau Monde Graphite (NMG) filed its financial reports for the fiscal year ended December 31, 2024, reporting a net loss and comprehensive loss of C$73.28 million. Operating activities consumed C$51.95 million in cash during the same period, reflecting the company's development-stage status.
As of December 31, 2024, NMG held C$106.30 million in cash and cash equivalents and C$67.03 million in working capital. The company confirmed that the issuance of its Updated Feasibility Study, effective March 25, 2025, has enabled it to enter the project financing stage for its Phase-2 Matawinie Mine and Bécancour Battery Material Plant.
NMG has received cumulative expressions of interest for approximately $1.6 billion for its Phase-2 project financing from potential lenders, institutional equity investors, and Anchor Customers. The company also reported a total recordable injury frequency rate of 1.78 and a severity rate of 2.67 for the twelve-month rolling period ended December 31, 2024, with no major environmental incidents.
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