It's highly likely to be CSPG/SPG which would require a downstream Battery Anode Plant (in the USA) and graphite supplied by either Stage 2 Bunyu or ZG or both. It looks like this is very close given the guidance provided that a signature and offtake agreement expected in the Oct-Dec quarter. Keen to find out who it will be also!
The other one which I think the market is overlooking is the value of the garnet, which is sitting in large stockpiles (in tailings storage) over at ZG. Garnet is essentially a by-product of the graphite production and requires little further processing before it's ready to be sold. Securing an offtake partner (in Europe) and on-selling the Garnet on top of the graphite could make ZG cashflow positive. The advantage of this opportunity is that if a customer contract is locked in, the product is literally there and ready to be sold immediately. $100m of product is quite noteworthy for a company trading under $30m.
I had the opportunity to chat to PC in person a few weeks ago when he was downunder, and I am very confident he is going to DELIVER on what he says he will do. That includes getting Bunyu funding done. I accept that there are delays, they happen everywhere. He is highly execution and outcome focused, extremely conscious of managing shareholder funds prudently, and has strong business & strategic acumen. His experience with BASF, the specialty chemicals business, strong knowledge of the government funding & grant processes and connections in the battery industry both in the USA and Asia are very solid. IMO I think these attributes will prove beneficial to Volt's business plan and ultimately to shareholder return.
Not advice, just my opinion and observations.
GLTAH
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