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A few notes and quotes I've jotted down so far:
“Nickel is the cheapest and the highest energy density, and that’s why increasing nickel is a goal of ours, and really everybody in the battery industry”
Been working on stabilising nickel-only batteries without cobalt –
Discussed High Nickel Cathode Development – Zero cobalt – “Maximise nickel, remove cobalt”
Produces a 15% reduction in Cathode $ per KWH
Elon: “But it’s not just about nickel. So, in order to scale we really need to make sure we’re not constrained by total nickel availability. I actually spoke with the CEOs of the biggest mining companies in the world and said please make more nickel, it’s very important, and so I think they’re going to make more nickel. But there’s also, I think we need have kind of a three-tiered approach to batteries. So starting with iron that’s kind of like a medium range, then nickel manganese as sort of a medium-plus, intermediate and then a high nickel for long-range applications like Cybertruck and the Semi. Something like the semi truck it’s extremely important to have high energy density in order to get long range.”
Spoke about iron being better than generally thought for stationary storage and medium range applications where energy density isn’t paramount.
For intermediate: Relatively straightforward to do a cathode that’s 2/3 nickel 1/3 manganese that would then allow us to make 50% more cell volume with the same amount of nickel – and very little energy tradeoff. Just enough to make you want 100% nickel for something like a semi truck, but really not much of a sacrifice at all.
I've been wondering about valuation too, but based on Peel Hunt's forecast of £90m EBITDA in 2025. Not sure who to look at for a comparable P/E, and I suppose we don't know how many share will be in issue by then. Unless someone here has tried to guesstimate it?
Haha, no, I'm not that brave! But I think I should have a few more eggs here. It seems about as a good a bet as you can find, whether it's acquired early or goes into production. And thankfully not (knocks on all available wood) too good to be true.
Just a quick thank you to everyone who engaged with this question. Honestly, I love the generosity of this board.
Amazing to hear that wasarunner is 99% in HZM. But to be fair, everything I've bought lately I should probably have put here instead. As usual, kicking myself a bit for not being more aggressive earlier, but the discussion today has given me even more confidence in HZM. I'm sure it won't be long until I'm kicking myself for not buying more now. (And yes, I did add a bit today.) Thanks again :)
First off, I'd like to say thank you to all the posters who make this a great board. I'm doing very well on HZM, and it's thanks to people like wasarunner, djryan777 and others who provide such constructive info and research, and have given me the confidence to keep topping up.
If it's not too cheeky, I'd love to put a question to you guys. (Especially on a red day when I'm tempted to top up.) Basically, I'm wondering – what are the risks here? From what I can see, the main thing that could go wrong is not being able to able to raise the project finance. Given all the things in our favour – Tech/Glencore/EVs/nickel price/etc – it doesn't seem likely, but of course the facility announced on 12th August isn't in place yet. Do people here think there's actually a chance we won't be able to finance production? I'm sure I'm not the only one who'd appreciate hearing what people think of that likelihood. Thanks!
Hertstrader74, try again if you're still keen? I was just able to buy 15k on HL at 6.35. Last day of trading, according to their note