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GUELPH, Ontario - Zentek Ltd. (NASDAQ:ZTEK)(TSXV:ZEN), a $80 million market cap company currently trading at $0.78, announced Monday that its Albany graphite material has successfully met nuclear industry specifications in recent characterization tests, potentially positioning the material for use in nuclear energy applications. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
The company’s wholly owned subsidiary, Albany Graphite Corp., in collaboration with American Energy Technologies Company (AETC), completed tests confirming that Albany graphite meets or exceeds key requirements for nuclear-grade graphite. While the company has shown impressive revenue growth of over 2,500% in the last twelve months, InvestingPro data reveals it is not yet profitable, with several additional insights available to subscribers.
Testing showed the material achieved ultra-high purity levels of 99.9992% carbon and an Equivalent Boron Concentration of 2.60 ppm, below the 3 ppm threshold required for nuclear applications. Additional tests confirmed appropriate particle size distribution, high compact density with low elastic expansion, low electrical resistivity, and suitable coefficient of friction.
"These latest results further reinforce the significant potential of the Albany Graphite Project," said Wendy Ford, CFO and interim CEO of Zentek, according to the press release.
The characterization tests are part of activities funded by Ontario’s Critical Minerals Innovation Fund, which supports research and development in the critical minerals supply chain.
The final phase of testing will involve producing near-net-shaped graphite bricks using a mixture of synthetic graphite, ultra-high purity Albany graphite, and coal-tar pitch to confirm that nuclear industry specifications can be maintained in composite form.
The Albany Graphite Project is located in Ontario, approximately 30 km from the Trans-Canada Highway, near established infrastructure including roads, rail, power transmission lines, and a natural gas pipeline.
Zentek describes the deposit as a "unique igneous-hosted, fluid-derived graphite deposit" that has been developed to an advanced exploration stage.
In other recent news, Zentek Ltd. announced its plan to raise up to $2 million through a non-brokered private placement by issuing up to 1,886,792 units priced at $1.06 per unit. Each unit includes one common share and warrants that are exercisable at specified prices over 24 and 36 months. Additionally, Zentek appointed Wendy Ford as interim CEO following the resignation of Greg Fenton, who left to lead Altek Advanced Materials Inc. The company is actively searching for a permanent CEO with the help of Lock Search Group. Zentek has also reported promising results from initial in vivo testing of a countermeasure for seasonal influenza, funded by approximately $1.1 million from the Canadian government. In preparation for its upcoming annual meeting, Zentek updated its director nominees, proposing four independent directors for election. These recent developments highlight Zentek’s ongoing strategic and operational changes.
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