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UPDATE: Northern Graphite Down 13%, Successfully Produces and Tests Spherical Graphite for Use in Lithium Ion Batteries

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Northern Graphite Corporation (NGC.V) is down 12.41% late morning, to $2.40. The company announced last week that it has successfully manufactured test quantities of spherical graphite from graphite concentrate produced from the Company's 100% owned Bissett Creek deposit. The spherical graphite has been evaluated in Lithium/graphite battery test cells and the performance of these cells demonstrated that it meets or exceeds current commercial performance requirements, NTC said. The company added that Bissett Creek graphite does not contain any impurities that negatively affect cell performance and further test cycles are on-going. The cells were made and testing carried out in a highly qualified, independent laboratory.

NGC shares have dropped from last Tuesday's high of $3.40, when it first made the announcement. it is now trading $1 lower, at $2.40. The shares are still above a yr low of 71 cents.

NTC shares are down 7.8%, to $3.08. Close to 1 million shares have changed hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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