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Ann: Volt Progresses on Downstream Business, page-16

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djm3001

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12/01/24

16:48

Post #: 71854780
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Originally posted by nkat2007: ↑

Hi @GoSlow

I've included some responses below based on my interpretation.

Where is the graphite going to come from for the anode plant as Bunya stage 1 supposable sold out?
- It will need to be from a combination of Bunyu Stage 2 and Zavalievsky

How much suitable graphite flake is going to be needed for the anode plant to produce the 10750 tonnes?
The ratio of fine flake natural graphite to CSPG is about 3:1. That means about 30,000t of fine flake graphite to produce 10,000tpa of battery anode graphite (CSPG). Some more information on this process available here -> https://www.northerngraphite.com/_resources/media/SPG-Summary-2.pdf

The same questions for the American DOD.
The LOI between Volt and M2I Global (for DOD) is for natural graphite 94%-99.5% purity, not battery anode graphite.

The same questions for the potential customer who ordered 150 tonnes of ore from Bunya.The 113 tonnes of graphite is for qualification purposes to progress towards financing of Bunyu. I would assume this company is involved in either manufacture or trade of natural graphite products.

The same questions for the other supposable interested parties since the China announcement- The other interested parties are "leading battery producers" as per the latest announcement. Therefore they require CSPG / Battery Anode Graphite

What seems so obious is that Volt is going to need much much more than stage 1 as that's all sold.Agreed, they will need it all, but not all at once. Therefore, developing the Bunyu project in stages reduces risk and therefore this approach makes sense in the current market.

Is it feasible and needed that Volt will develope Bunya as a whole and therefore will need somewhere near US 200Million?
If Graphite was in short supply/huge demand and prices were high we could see investors move to fund development of full capacity (stage 1 and 2) however it does look like a staged approach is more likely due to the initial lower Capex.

Nobody knows of what will happen with ZG so will the European parties such as 24M still be interested in Volt and hang in there until the war ends?.24M is a USA based company not European. They are linked to Freyr (Norway) and have Volkswagen (Germany) as a 25% shareholder.
IMO these large companies look at their raw material supply requirements with a longer term horizon. E.g. can you supply me with my graphite requirements for 5-10 years at X tonnes per annum? It feels unlikely that a war between Ukraine and Russia would be going on for that long and at some point it will need to end. So potentially companies interested in Volt's graphite can see beyond the war. Equally, they would also be looking at other suppliers of graphite and not restricting themselves to one supplier.

Expand

So the US government being highly concerned about the domination of China in the graphite space will be happy to provide funding for the development of a mine in Africa that has the whole of stage 1 presold to a chinese company?

Sounds plausible.

VRC Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
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Ann: Volt Progresses on Downstream Business, page-16

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Ann: Volt Progresses on Downstream Business, page-16

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