AIDEA MOU

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The Company has signed a Memorandum of Understanding with the Alaska Industrial Development and Export Authority (“AIDEA”), a public corporation of the State of Alaska whose purpose is to support and encourage the development of Alaska’s natural resources.  AIDEA has the authority to finance, develop, and own and operate facilities used in the extraction, production, and transportation of minerals and materials.  AIDEA is reviewing with the Company:

  • Strategies to maximize local economic benefits and job opportunities
  • Potential opportunities to locate the Manufacturing Plant in Alaska
  • Frameworks for AIDEA and the Company to engage cooperatively with stakeholders to incorporate their input via public meetings and consultations
  • Opportunities to work cooperatively to identify activities requiring federal, state or local permitting
  • Options and opportunities for AIDEA to participate in funding some of the Project facilities including the 22 mile access road and the power generating facility.

The Company believes the Project is well positioned to supply the growing demand for high performance battery anode materials.  Key features of the Project demonstrated to date include:

  • A large, high quality graphite resource;
  • Located in an historic mining area and pro-development state;
  • High purity spherical graphite produced in tests with high yields, using less milling energy;
  • High performance CSG that meets EV battery specifications produced in tests; and,
  • Economically viable resources with robust economics.

David Hembree, C.P.Geol., General Manager Operations for the Company and a “Qualified Person” under NI 43-101, is responsible for and has reviewed and approved the technical content of this website.

This website was updated in May 2017.

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The Property consists of 200 claims, including 176 Alaska State mining claims (Figure 2, Blue) and 24 Federal mining claims (Figure 2, Red), all totaling about 9,600 hectares (23,700 acres).


Figure 2: Graphite Creek Mining Claims

Federal Mining Claims (24)

The Company gained control of the 24 Federal claims (shown in red in Figure 2 ) through a long-term lease agreement with Kougarok, LLC, an Alaska company held by the original stake holders.  The lease has an initial term of twenty years commencing January 2014 with provision to extend through the Project’s life. The remaining payments and production royalties due under the lease are:

The Company has the option to reduce production royalties by up to 2% by paying Kougarok LLC $2,000,000 for each 1% reduction of the royalty. 
The Federal claims are currently being conveyed to the State of Alaska, a process expected to be completed by end of 2017.  The Federal claims are overlapped by some of the Company’s state claims.

Purchased Claims (56)

The Company purchased 56 Alaska state mining claims in two transactions, with each transaction acquiring 28 claims covering the same lands and representing the junior and senior state mining claims that overlap and surround the 24 Federal claims.  The first group of 28 claims was purchased in 2012 and carries a 2% production royalty on future production from the covered area. The Company has the right to purchase the production royalty for $1 million at any time on or before January 24, 2021.  The second group of 28 claims was purchased in 2015 and carries a royalty interest equal to 1% on production from the claims.  The Company can purchase the royalty for $500,000 at any time within 36 months following the start of mine production.  Some of the Purchased state claims overlap the Company’s leased Federal claims.

Staked Claims (120)

Graphite One (Alaska) Inc. has staked 120 Alaska state mining claims, some for potentially locating infrastructure.
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