According to the guy from the video bellow it's natural graphite. I don't have enough technical knowledge to properly assess this. As Lambda1 says, it still needs to be proven. If I understand correctly, Jordan has contacted them to investigate further.
Nevertheless, I am not at all concerned about the demand for Novonix's synthetic graphite. I remember Elon Musk specifically mentioning synthetic graphite as a huge market, and urging entrepreneurs to look into it.
Media Watch - NVX related, page-14381
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