Ann: Talga Supersizes Graphite Amid Booming Battery Anode Demand, page-47

I think this is an important point. Talga haven't needed to drill further previously because they had the resource to meet the demand.

With all of the announced battery factories in Europe recently the demand from customer's is constantly increasing and Talga need to scale up the resource in preparation for this and to show customers they can meet it. >750,000 tonnes of new anode supply by 2030 in Europe alone.

MT's comment from today's announcement:
Recent customer feedback leads us to more fully define the true extent of our high-grade graphite resources in Sweden and explore the increased scale potential for global battery markets.

It's also still a chicken and egg situation where Talga know they could theoretically meet this demand but are limited in confirming full scale up plans until the customer commitments are in place. The customers are going to need to pull the trigger and stump up some cash soon or they're f***d...

Simon Moores of BMI said last week there would need to be 10's of billions invested in the supply chain in the next 12 months if they had any chance of meeting the upcoming demand...

It's not a bad problem to have and MT will hold all the bargaining chips very soon.