Ann: Talga Presentation - Macquarie Group Critical Minerals Forum, page-10

"I believe in a previous update, we were told that TLG is selling its test anode at above the price BMI forecast."

I wanted to check this statement to make sure it was actually true. Here's the statement from the Feb 24 ASX update:


The update does say the receipts are "not expected to be material at this stage." But, the back-napkin math would suggest otherwise. 25K trial tonnes should be worth $64.8M in end anode product.

The unknown is how quickly the EVA plant is capable of refining the graphite ore. Regardless, if the test anode is indeed selling at prices above BMI's forecast, I'd expect to see some material revenue ($2M+) in Q3 and Q4. I have to think the EVA plant can process at least 170t in 3 months.