Lomiko’s Financial Pivot: New CFO to Drive Graphite for EV Future

MONTREAL, QC – November 30, 2025 – In a move signaling a sharpened focus on project financing and capital markets, junior explorer Lomiko Metals has appointed corporate finance veteran Robert Boisjoli as its new Chief Financial Officer. While management shuffles are common in the mining sector, this particular appointment arrives at a critical juncture for both the company and the burgeoning North American electric vehicle (EV) supply chain, which is critically dependent on one key material: graphite.

Lomiko is the steward of the La Loutre graphite project in southern Quebec, a substantial deposit of the flake graphite required for the anodes in lithium-ion batteries. With the transition to electric mobility accelerating, the race is on to establish secure, domestic sources of critical minerals and break the near-total reliance on Chinese processing. The appointment of a CFO with deep experience in financing listed mining companies suggests Lomiko is positioning itself to transition from an exploration-focused entity to a development-stage player ready to fund and build the infrastructure of our connected, electric future.

A Strategic Appointment for a Critical Phase

The replacement of outgoing CFO Jacqueline Michael with Robert Boisjoli represents a significant strategic pivot. Mr. Boisjoli is a Fellow Chartered Professional Accountant and the managing director of Atwater Financial Group, a firm specializing in financial reporting and advisory services for publicly listed mining companies. His three decades of experience, which include a background as an investment banker, are precisely the skills required to navigate the complex financing landscape for a capital-intensive mine development.

This move comes as Lomiko advances its flagship La Loutre project. The company is not starting from a standstill; it has already secured significant government backing that underscores the project's strategic importance. An US$8.35 million grant from the U.S. Department of Defense, matched by the company for a total US$16.7 million investment, and a CA$4.9 million non-repayable contribution from Natural Resources Canada are earmarked for developing Canadian processing capabilities for battery-grade graphite.

However, these grants, while crucial for de-risking the project, are only a down payment on the hundreds of millions of dollars typically required to construct a full-scale mining and processing operation. With a reported cash position of just over $760,000 as of its latest filings, Lomiko's primary challenge is securing the substantial project financing needed for its next phase. Boisjoli’s track record in capital raises and financial strategy will be instrumental in bridging this gap and turning a promising mineral resource into a producing asset.

The Multi-Billion Dollar Graphite Challenge

To understand the significance of Lomiko’s mission, one must look at the global demand for graphite. It is the single largest component by weight in an EV battery, with 50 to 100 kilograms needed for each vehicle. As the world electrifies its transportation fleet, the demand for battery-grade graphite is forecast to quadruple by 2030. The global market, valued at nearly USD $23 billion in 2024, is projected to swell to over USD $36 billion by 2031.

This soaring demand is set against a precarious geopolitical backdrop. China currently controls an estimated 73% of global graphite mining and nearly all of the specialized processing required to upgrade it for battery use. This dominance gives Beijing immense leverage over the global EV industry, a vulnerability that Western governments are now scrambling to address through policies like the U.S. Inflation Reduction Act and Canada's Critical Minerals Strategy.

Companies like Lomiko are at the forefront of this strategic realignment. The La Loutre project boasts an impressive updated Mineral Resource Estimate of 64.7 million tonnes of Indicated Mineral Resources averaging 4.59% graphitic carbon. This represents a significant potential source of non-Chinese graphite. However, the market is notoriously volatile. A 2024 supply surplus from China drove prices down, creating headwinds for investment in new projects. Navigating this volatility while securing long-term offtake agreements and project financing will be a key test of the company's new financial leadership.

Navigating the Path from Resource to Reality

Unlocking the value of La Loutre requires more than just financial acumen; it demands careful operational planning and a steadfast commitment to community and environmental stewardship. The project is located within the traditional territory of the Kitigan Zibi Anishinabeg (KZA) First Nation, making social license to operate a prerequisite for success.

Lomiko appears to be taking these responsibilities seriously. The company is engaged in ongoing community consultations and has demonstrated a willingness to adapt its plans based on feedback. In response to local concerns, it is investigating alternative locations for its waste rock pile and plans to incorporate open pit backfilling into its pre-feasibility study to minimize the project's surface footprint. Furthermore, a commitment to build a private access road will prevent heavy truck traffic from impacting local communities, a crucial step in maintaining positive relations.

On the permitting front, the company has already received provincial permits to begin a 250-tonne bulk sampling program. This is a vital step that will allow Lomiko and its partners to test and refine the metallurgical processes needed to produce battery-grade anode material at scale, providing tangible proof of concept for potential investors and customers.

Building a North American Battery Ecosystem

Ultimately, the appointment of a new CFO at a junior mining company is a microcosm of a much larger industrial trend. The transition to a connected and electrified mobility system is not just about designing sleek new vehicles; it is fundamentally an infrastructure and supply chain challenge. Building resilient, secure, and sustainable supply chains for critical minerals like graphite is foundational to this entire endeavor.

Lomiko's efforts at La Loutre, supported by government funding and now guided by a seasoned financial strategist, represent a critical piece of this complex puzzle. The shift in leadership signals a maturation from pure exploration to the pragmatic business of mine development. It reflects a broader trend across the junior mining sector, where companies are being called upon to play a direct role in national industrial strategy. As these firms evolve to meet the immense demands of the green energy transition, their success will depend as much on the strength of their balance sheets and financial strategies as it does on the quality of the resources they hold in the ground.