Member Info for Andii

Its quite seldom that a company will publish their cash position before their accounts are audited, 40 days after the EOY.

Cost of production 1H £787,312

Quantity of production 1H 1,731MT

Cost of Production 1H £454/MT

Cost of production FY = £1,517,962

Quantity of production FY = 4770MT (+59%YoY)

Cost of production FY = £318/MT (-18%YoY)

Cost of production 2H = £725,251

Quantity of production 2H = 3093MT (+89% HoH)

Cost of production £234/MT ($294/Tonne) (-49% HoH)

Basket price $914

Compare to Syrah Q1 results

Cost of production $668

Basket price $636

Next steps, increase capacity from 30ktpa to 36ktpa, "as we start accumulating cash, we will go ahead and implement that"

Second half of the year figures better than first half, so the (full year averaged) figures today can still be improved on for the next results...

https://www.proactiveinvestors.co.uk/companies/news/1014474/tirupati-graphite-targets-80-000-tonnes-capacity-for-2024-following-strong-showing-in-2023-1014474.html

Targeting 80ktpa+ capacity in 2024

"possibly have the worlds lowest OPEX"

My 8:25 post from yesterday

Blackrock mining,.similar size resource, 2 years from production are spending

Capex US$182m

To bring on 89ktpa

Tirupati brought on 30ktpa for £13m capex. Do the maths. They can expand at 1/4 the capex per tonne of peers and their resource is one of the largest

Yes but all capex has been spent and M&A activities complete. We are now producing a targeted 28-30ktpa compared to 4.7ktpa last year (just announced today). The margins have improved. Doing the maths, Tirupati will likely be Ebitda positive sometime in Q2 (July-September)

Furthermore, cost of production now $400/tonne. They are targeting previous margins, the best previously was in the half year to September 2021 and was $334/tonne. Could this be achieved or improved on with larger volumes and once the additional hydro electricity capacity comes online?..

Graphite bang for buck just released including over 35 graphite companies.

https://twitter.com/_H00PZ_/status/1655845666348994560?t=tZf_sxBQo5XGH-M9xnvk1w&s=19

The crazy thing is that Tirupati have probably produced the same 4700tonnes in april and may so far as they did in the whole of 2023. And cheaper too as all upgrades are in place.

Wrong BRM link, here is the correct one

https://blackrockmining.com.au/wp-content/uploads/SydneyMiningClubInvestorPresentation05May23.pdf

Https://blackrockmining.com.au/?doing_wp_cron=1683523399.8299999237060546875000

Blackrock mining pre production - still awaiting funding.

Module 1 will cost

Capex US$182m

Production from module1 = 89ktpa+

Construction time 20 months.

C1 (production) cost = $466/tonne

Basket made up of 23% Jumbo, 36% Large, 9% Medium, 32% Small

Market cap $80m

https://tirupatigraphite.co.uk/images/Corporate%20Presentations/Q4-2022-CORP%20Presentation%20Final.pdf

Tirupati producing and forecast Ebitda positive current year

Madagascar has 2 projects online

Total Capex spent = $13.91m

Currently producing 30ktpa

Additional production increase of 54ktpa by end of 2024 estimated $12m capex

Production cost forecast $359/tonne

Basket price $910-935 made up of (Sahamamy)50% Jumbo, 35% Large and 15% Small Flakes

Market cap $40m

https://www.northerngraphite.com/_resources/presentations/corporate-presentation.pdf

Currently producing 15ktpa (50ktpa planned 2025)

Additional production across various assets planned. Ontario project capex $112m for 40ktpa plant

Current production cost USD$1033/tonne

Basket price USD$1,572/tonne

Market Cap $44m

Is it possible to buy Clon using a spread bet or cfd does anyone know? Spread-ex only allows for closing transactions only right now. I haven't tried with IG. Not sure of any others

I carried out a bang for buck style chart for the miners in Myles McNulty's report using his data for tonnes of resource, %grade. The size of esch bubble is the latest market cap for each company.

https://twitter.com/AndrewMathieso3/status/1654878593036451843?t=7QsglxUhd5TlkL01haDQiA&s=19

Like at the 9 year old Movialsa plant producing 5.9MWe and 6.6MWth. It produces 1.4KWe per Kg of waste.
Just as you suggest, a well designed plant should be 1MWe & 1.1MWth Movialsa is (1:1.1186 e/th)
Movialsa is 28% electrically efficient, 64% globally efficient. France MDC target is targeting 78% global efficiency and most likely 1:1 electrical to thermal output at 6.5MW for each.

https://eqtec.com/wp-content/uploads/EQTEC-Movialsa-case-study-Aug-2022.pdf
https://eqtec.com/wp-content/uploads/EQTEC-France-MDC-Project-Fact-File-Aug-2022-1.pdf

https://ibb.co/X8gfJK3
The 0.5MW plant will be Agrigas 1. This is a local owner who feed it with mainly straw, a commodity they have in abundance on location which was previously mass burned.

The 3MW example is producing biochar so the power/heat balance will be different. (The figures already include parasitic load)

I found that interesting mjallen. Have they managed to adjust the process somehow so that they can handle wet RDF, so they don't need to inject so much steam (water saved and energy producing steam saved), and instead the moisture content of the waste is useful.

This falls under the science of subcritical and supercritical water and is a very interesting subject and is key to producing optimum levels of syngas/synthetic fuels

page 46 is really interesting, the *THERMAL* potential of 3MW and greater plants. The smaller plants must not be economical enough to include thermal. This one for you Visitinghost =)

https://ibb.co/X8gfJK3

Non exec director has moved £120k of shares into his Self Invest Personal Pension. Nice way to avoid paying capital gains on his trading account if/when share price rises.

When the price of one size of graphite fluctuates, the others tend to follow.
https://www.researchgate.net/figure/Average-pricing-of-flake-graphite-concentrate-for-three-selected-flake-sizes-from-October_fig5_328739043

Giga Factories are coming online in Europe and the US, and they aren't buying Chinese synthetic graphite, for political and environmental reasons. As a consequence, ex china natural graphite prices should rise. The demand for graphite is growing all the time.
https://rethinkresearch.biz/articles/graphite-it-cant-stay-in-china-forever/

An article examining the potential for graphite to do a lithium and go "parabolic". Traditionally, prices have been more stable as the majority of the market was non EV's but EV's are due to surpass 50% of graphite market demand in 2023.
https://investorintel.com/critical-minerals-rare-earths/why-graphite-could-be-the-next-critical-mineral-to-rise-steeply-in-price/?print=pdf

Visitinghost.

Yeah I agree about hydrogen. I wasn't talking about hydrogen (which incidently eqtec only intend to produce for industrial neighbouring customers removing the extra cost and complexity of storing and transporting)

The parallels I was talking about (as PHE after all do process waste, are a gasification company and also produce power as an output), I was referring to the reducing costs of each subsequent project, and if you check the table page 30, they use low figures for the gate fees and electricity price.

Wouldn't it be good if Eqtec could build their FOAK at a shovel ready site (every MDC so far is a shovel ready project...), benefit from higher tariffs (which they have at Italy MDC and France MDC) then in the future, these plants will have lower Capex and be profitable.
(The NOAK formulae).

You've discussed the price of wine and the pitfalls of hydrogen. I'm more interested to discuss medium term strategy and what position eqtec may be in once they reach financial close on the next two projects. (We are after all about 18 months overdue a financial close)

Well, more broadly, here are some reasons why graphite proces are subdued right now....

Start of 2023, China removed their electric vehicle subsidy so EV sales into their domestic market slumped.

Oil prices have been dropping recently making synthetic graphite, a by-product of the petroleum industry cheaper hence battery manufacturers are using more synthetic graphite. (This will likely not prevail as the ESG profile of batteries will lead customers and manufacturers to start chosing natural graphite for EV's)

Syrah resources , the largest non china producer (Tirupati are the second largest) have been producing at a loss due to low fines prices (the small flake size used in batteries)
https://twitter.com/SyrahResources/status/1651373950964994049?t=0w2xUVB0OvxQYUbksaMqFA&s=19

Syrah are going to cut back on production as they are now sitting on high stock piles and likely want to wait/want to encourage prices to recover.
https://twitter.com/clubOmozambique/status/1651663086044999685?t=mOrGM-A1-Ub3P1dNbNM8hA&s=19

The majority of Tirupatis basket of graphite currently being produced is not going to supply battery's, it is large flake which commands a premium and is used in industry.

The figures for Balama and Montepuez were based on Battery Metals Australian feasability study figures. Tirupati have their own process and can likely make better operating margins. Besides C2 production costs, the capex per tonne is also world class, therefor new production can come online faster and cheaper.

All this means, should graphite prices come down, Tirupati can remain profitable. And if graphite prices go up.... Then its unicorn territory. When the battery market reached 50% of worldwide lithium demand, the price of lithium went up 10x in a year.

https://www.mining.com/graphite-poised-to-do-a-lithium/

Also, there is potential for a downstream process to be developed and owned by Tirpuati to produce 99.95% battery grade spherical graphite which sells for $3000/ton+ currently. The process also doesn't require acid so is more environmentally friendly than most other methods currently in use.

https://www.lse.co.uk/rns/TGR/battery-grade-spherical-graphite-trials-successful-7ajme7kkxdtzbfb.html

https://twitter.com/MylesMcNulty/status/1646869898801315850?s=19