Talga Valuation v Lithium, page-63

Not sure I agree with any of the suggestions. I think the MC will be nearer $30Bn in 2024, much sooner and much higher. Three subsidiaries have been created for the Graphite, so the project JV has been split into 3 at least. Vitangi has been increased to around 200m tonnes ore with about 50m tonnes Graphite. Any off take that gets in early will want to secure resources not just a promise of resources. So for example VW/Northvolt will provide an offtake and LKAB to fund the Vitangi/JV. Vitangi resource being drilled and confirmed now. The announcement will probably be for the whole of Vitangi, basically Northvolt/VW want to ring fence their resource and secure supply.

Jalkurnen being drilled in January will open the way for the next JV , maybe with Tesla and LKAB. Then finally the third JV with Rivian/Amazon/Lucent. The Pareto presentation stated JV's. Talga Group has created 3 subsidiaries. Vitangi is one subsidiary. I am no expert but they could have created Vitangi 1, Vitangi 2, Vitangi 3.

Three JV's will produce much more than @saggito suggests in 2024/25. NVX is 4x Talga today with no resource and less tech, when the Talga Board announce named off takes and Vitangi JV i, we can expect to be valued at least the same as NVX within weeks.