Terence Cryan

“This week marked a major step forward for Westwater, for Kellyton, and for the build-out of American-made battery-grade natural graphite. On Monday, we announced that Ex-Im approved a $25 million loan to support continued development of our Kellyton graphite plant in Alabama.”

“I'd like to begin by stepping back and discussing the broader market Westwater is currently operating in, and importantly, how we fit into the evolving battery materials supply chain.”

“It's been an eventful few weeks since quarter close, so I wanted to share some thoughts and provide an update on where we stand. Last week, Fiat Chrysler Automotive, a division of Stellantis, unexpectedly terminated its offtake agreement with us.”

“The decision by the arbitration tribunal was only announced on Friday. And so, I think it's a little early for us to be definitive about that. And I think that while we're pleased that the tribunal found in our favor on the merits, obviously, we're disappointed in the amount ordered.”

“I think as we look at the expected market demand for anode materials with 14 giga plants announced for the United States in addition to the existing Tesla plant, we think that the benchmark forward forecast of a significant shortage in anode materials is going to prove to be accurate.”