NVX, page-7

I agree, very interesting company, but still a lot of uncertainties however i see three problems :

1- Their australian graphite deposit cant be competitive cost-wise with african graphite deposits. In their latest presentation they seem to have aknowledged that and they will be securing graphite from other sources wiating for the oppotunity in the long term to re-visit their australian deposit (i.e much higher graphite prices per tonne).

2- Novonix (selling battery testing equipments) is a profitable company, but "Pure Graphite" joint venture is still in develomment, first production of graphite anodes expected in june 2018 at just 1000tpa difficult to see if this would be a profitable operation, the chinese are building their anode facroties too, are they competitive with the chinese cost-wise especially that they do not have a deposit to secure/source high quality graphite ? they talk also about ramping up to 100.000tpa but not clear how/when.

3- they are basically three separate companies that merged together but still each company with its own CEO ("novonix", the joint venture "pure graphite", and the CEO of the mother company who bought them). I expect that each CEO has his own big EGO and is ore or less independant. Not sure how synergies could be created between "novonix" and "pure graphite" or if decision making would be problematic...etc. Time will tell though.

I am watching closely ! Good luck to all !