Graphite One Shifts Gears as $2.07 Billion Loan Backing Nears Final Hurdle

The graphite developer is moving from the drafting table to the construction site, with a fully integrated North American supply chain now within striking distance. Designs for the Alaska mine and the Ohio processing facility are complete, leaving financing as the last major piece of the puzzle.

A feasibility study released this month bolsters the case for investment, projecting a pre-tax net present value of $6.4 billion and an internal rate of return of 30%. The company expects to recoup initial capital outlays in roughly seven years, underpinned by a modular approach that ties spending to operational milestones. The US Geological Survey already ranks the Graphite Creek deposit as the country’s largest natural graphite resource.

The US Export-Import Bank has issued non-binding letters of interest totaling $2.07 billion, enough to cover approximately 70% of construction costs. Of that sum, $670 million is earmarked for the Alaskan mine, while the lion’s share — $1.4 billion — would fund the Ohio processing plant. Management is now in talks with North American investment banks to secure the remaining capital. The ultimate goal: 50,000 tonnes of commercial natural graphite by 2028.

Should investors sell immediately? Or is it worth buying Graphite One?

On the personnel front, Lucille Carter has joined to lead regional relations, a move designed to accelerate the permitting process. The company also converted roughly 580,000 restricted stock units for directors into common shares in mid-April, with further allocations slated for a vote at the upcoming annual general meeting.

Investors, however, remain cautious. Shares closed Thursday at $0.84, up nearly 3% on the day but still roughly 49% below the January 2026 high. Over the past ten trading sessions, the stock has shed about 9%. Trading volume was thin at roughly 28,000 shares. Technically, the stock faces resistance at $0.86, with support around the $0.80 level.

Analysts see a different picture. The consensus rating is a buy, with a price target of C$2.85 — implying upside of more than 140%. The feasibility study lends weight to that optimism, but the clock is ticking. Graphite One plans to submit formal loan applications in the second half of 2026. Before that, it must finalize complex financing structures and push federal permitting forward. Without converting those non-binding commitments into binding credit, the $6.4 billion valuation remains theoretical.