I wrote a post touching on this topic over at the TSE-TLG forum a few days ago and keen to test my thinking on the Talnode-Si production pathway & financials for those with any thoughts/opinions?
If you look at Talga's tech roadmap (below), it demonstrates that Talga have the technology and trademarks to produce Talnode-Si from either feedstock from the Vittangi mine OR from recycled graphite from spent Li-ion batteries, with the common precursor being Talphite.
We know groups like Northvolt (via their subsidiary), Revolt and Redwood (in the USA) are setting up substantial Li-ion battery recycling plants. However, most of the focus is on the cathode side to capture and reuse key metals such as Lithium, Nickel and Cobalt. I am not aware of what, if anything these groups are doing with the graphite as no-one has the commercial tech to convert back into anodes (apart from possibly Talga).
Therefore, from a shareholder point of view the ideal situation would be:
1) All of the ore from the Vittangi license (once approved) is utilised to produce Talnode-C commencing with 19.800tpa and growing over time.
2) The manufacture of Talnode-Si does not require production of Talphite to be diverted from Vittangi and they can source enough raw material from spent Li-ion batteries, given the limited demand/utilisation of it currently by existing recyclers.
I know the Li-ion recycling industry is still nascent, but growing quickly. So, the big question: is there enough raw graphite feedstock from spent Li-ion batteries for Talga to utilise without having to depend on Taphite from Vittangi.
If this were possible, it would significantly increase Talga's projected revenue forecasts as they are not constrained on the Talnode-Si side by ore extraction permits. The other key ingredient, metallurgical Silicon is readily available and can be sourced for wherever they choose to build the plants.
Therefore, it would make sense to me that Talga would seek to locate future Talnode-Si plants close to major Li-ion battery manufacturers, who also have battery recycling feedstock to access the graphite from the spent batteries. Once again -Northvolt would be an obvious partner on this, but equally Redwood could be an option for future expansion into the US and take advantage of the IRA funding mechanism.
I won't go into the funding projections as it depends on the size of the future Talnode-Si plants and how many they intend to role out, but the capex to build the plants will be much more modest as it is not linked to the original DFS, which includes the construction of the mine, concentrator and anode plant in Lulea.
Welcome any views and very keen to see the details of the Talnode-Si Commercialisation strategy when released.
(20min delay)