From Euros Hartleyz coverage on stage 2 expansion:"Expansion to...

From Euros Hartleyz coverage on stage 2 expansion:

"Expansion to +100ktpa anode

TLG released a scoping study in December 2020 for an expansion to add 85ktpa anode. Thestudy is based on underground mining reducing the visual and potential environmentalfootprint. The scoping study capex was US$1.2b. We assume the expansion occurs in ourmodel, but defer it to 2029-2031 to be conservative. We see potential that the expansion issooner to meet customer demand. In our valuation,we assume expansion to 105ktpa nameplate by end CY2030"

More recent coverage from Petra sees production by 2026 for stage 1. This is after readjusting their projection due to the appeals taking longer than expected.

Talga also has a non-binding agreement to supply ACC with 60k tons of anode for 5 years by 2026. Whether that changes once binding, we will find out. But as you can see, I have plenty of dates from multiple sources that disprove what you are saying. Because Syrah had issues ramping production, does not mean that another company with an entirely different resource will. It's possible, but that remains to be seen.