Deutsche Bank have just released a very substantial (you could even say hefty - it's 179 pages) study of the lithium industry, with particular focus on the Lithium-ion battery, and its prospects.
This is an outstanding piece of work, and should be required reading for anyone currently invested in the lithium space, or contemplating such an investment. There are detailed descriptions of the various battery technologies, and of the wide, and growing, range of applications. Naturally, there are projections of the future demand in these sectors. And it contains some powerful messages for graphite investors in general, and for Syrah investors , in particular. I have gone through the report, (though I don't claim to have read every word, yet).
The things that stand out, for an SYR holder, are:
1. Lithium-ion batteries, in their various forms, will remain the dominant technology for the next decade, for EVs, portable electronics, and probably storage applications, due to cost trends and technological strengths.
2. In all the different forms of Li-ion batteries, graphite is the material-of-choice for the anode, and will remain so for several years, at least.
3. The report recommends buying companies with Tier 1 assets. Syrah is the only graphite company mentioned in the report (and recommended as a Buy), and is described as:
"the #1 global graphite play"
So DB is saying that Balama is a Tier 1 asset, that Syrah is the top graphite company in the world, and that they are operating in an expanding marketplace, with no feasible replacement battery technology in sight.
Sounds good to me.
Cheers,
Prime1
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