Large houses now positive on SYRAH, page-13

Thanks, I see; So here are their assumptions for the table :

Yield : 50% (from natural graphite to spherical graphite)

I agree with this assumption, it is realistic. However their remaining assumptions are either conservative or strange :

Graphite Anodes Blending : blending 70% natural sspherical graphite / 30% synthetic graphite. (BTW tesla/panasonic claim 5% of silicon is also blended)

It is possible, but 70% natural in the anode is very conservative, battery tests show that natural spherical graphite alone performs better than synthetic graphite alone when used in batteries as an anode.

The issue of course is consistency, synthetic graphite being mostly artificially created from petroleum coke, the process of creating it is so sophisticated and controlled resulting in a more consistent quality than natural spherical graphite (less processing needed for natural graphite VS petrolum coke and therefore cheaper to produce). By blending synthetic with natural, battery anode manufacturers try to achieve the consistency of synthetic while keeping the high performance of the natural (the best of both worlds).

However, natural graphite performance/quality/consistency improved during recent years. That is why natural is replacing synthetic (besides lower costs). IMO blending is a short term solution, and 30% seems too high to me, but I dont work for anode battery producers and it would be great for someone knwledgeable to enlighten us regarding this issue.

Spherical Graphite per kwh : 0.75kg

That seems to me as too low a number, we know for sure that there is more graphite (by weight) in a battery than lithium, that is a verifiable fact, and reliable sources state that there is 0.60kg up to 0.90 kg of lithium per kwh, how come graphite only 0.75kg ? Most analysts mention numbers between 0.9kg to 1.4kg of graphite per kwh. But again knowledgeable posters working in the industry may confirm these numbers.