Nouveau Monde Graphite (NOU.V) has increased the size of the Matawinie project after adding a total of 18 hectares to its land package after negotiation with the Québec ministry and Hydro-Québec. The additional land extends the West Zone by almost 200 meters to the south, as Nouveau Monde already completed a small drill program last year to figure out if the acquisition is worth pursuing.
With 132 meters at 4.8% Cg and 34 meters at 4.67% Cg in hole 98 and several other intercepts between 20 and 31 meters, Nouveau Monde has now confirmed the mineralization is continuing onto the new land and consolidating the ownership of the land package might improve the future mine’s economics as the new area shows significant outcrops and has very little overburden.
In other news, Nouveau Monde has appointed Karl Trudeau as its new Chief Operating Officer. Trudeau is coming over from Imerys (EPA:NP) where he was responsible for the mine operations and graphite processing at Imery’s Lac-des-Iles graphite mine (which will shut down in a few years). We have the impression Nouveau Monde is already putting its ‘human capital’ together to ensure a smooth permitting, construction and mining process once it starts to mine Matawinie in 2020-2021. We were surprised Imerys allowed Trudeau to work for Nouveau Monde but apparently the non-compete clause in his contract was specifically aimed at ‘producing’ graphite companies. As Nouveau Monde is still years away from the production phase, the non-compete clause cannot be invoked.