Westwater Resources WWR Stock News

Westwater Resources Inc (NASDAQ: WWR) is flying toward the top in the market this morning after the company announced that it received its first graphite concentrate shipment. Trading on excitement driven by the news, the stock is up nearly 200% early on. Here’s what’s happening:

WWR Stock Rockets On Graphite Concentrate Delivery

In a press release issued early this morning, Westwater Resources announced that it had taken its first delivery of natural flake graphite concentrate. The delivery was the result of a recently announced long-term graphite purchase agreement.  

In the release, WWR said that the shipment included 20 metric tonnes of material. This material is expected to be used in the development of planned pilot scale processes. The process will result in the production of several metric tonnes of battery ready advanced graphite products. 

The company said that the advanced products will include ULTRA-PMGTM, ULTRA-DEXDGTM, and ULTRA-CSPGTM. Each of these planned products will come in various sizes and are expected to be distributed to potential clients to advance the pre-qualification process. 

In a statement, Christopher M. Jones, President and CEO at WWR, had the following to offer:

With this delivery, we can now go about the business of executing our pilot plant studies and putting larger samples of battery graphite in the hands of battery manufacturers. This is an important milestone.

Why Investors Are So Excited

News breaks about publicly traded companies every day. However, it’s not every day that we see gains in multiples on strong volume. So, what is it about this news that has investors so excited? There are multiple reasons for the excitement:

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Reason #1: An Important Milestone That Allows For Development

WWR Stock achieves important milestone

Ultimately, Westwater Resources is working to develop three new products that will be used in the manufacturing of batteries. However, in order to develop these products, it needs the base materials. 

Importantly, the 20 metric tonnes of flake graphite concentrate gives the company plenty of raw material to refine and run its pilot tests. As the pilot tests prove to be positive, the products will start shipping to battery manufacturers in an effort to change the game in the space. 

However, to get to the commercialization stage, the company has to run a positive pilot program, and to do that, it needs materials. So, the delivery of the flake graphite concentrate starts a process that could result in the generation of meaningful revenues ahead. 

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Reason #2: Several Catalysts Likely Ahead

WWR Stock has several catalysts ahead

While this is a big step in the right direction, it’s just the first step. Moving forward, as WWR continues to develop its products, there are likely several catalysts just around the corner. 

Once the planned pilot process is started, Westwater Resources is likely to annnounce the initiation of the program. Throughout the program, we’re likely to see announcements with regard to production within the program. 

Upon the completion of the program, yet another press release is likely to generate excitement among investors. Following program completion, the company will start shipping product to battery manufacturers, which will likely act as another catalyst. 

I could keep going here, but I think you’ve got the point. The reality is that this news is so exciting becuase it sets a process in play that will lead to several catalystic events ahead. So, keep your eyes peeled. 

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Reason #3: The Classic Short Squeeze

WWR Short Squeeze

Even with the reasons mentioned above, gains of around 200% aren’t generally expected. However, there’s a technical move that’s helping to drive the stock higher. That move is known as the short squeeze. 

Ultimately, before the news, there was a relatively high level of short interest on WWR stock. That means that short sellers have had a hold on the stock. 

However, traders know that when the values of equities start to rise, those who hold short positions start to lose money. So, we tend to see an increase in volume as short sellers race to cover their positions, sending the stock screaming for the top. 

That seems to be exactly what we’re seeing out of WWR today!

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