It’s been a good day for the battery anode and advanced metals company.
The post Why the Talga (ASX:TLG) share price is charging 10% higher today appeared first on The Motley Fool Australia. –
The Talga Group Ltd (ASX: TLG) share price is off to the races today, up more than 10% in late afternoon trading.
Below, we take a look at what’s driving ASX investor interest in the battery anode and advanced materials company.
Digesting the quarterly report
The Talga share price has been in focus since the company released its quarterly activities report on Friday, after market close. Since Friday’s close, shares are up 13%.
Among the highlights over the past quarter, the company noted its battery anode product, Talnode-C was certified as the greenest graphite anode in the world. The independent Life Cycle Assessment was carried out by Hitachi ABB Power Grids. According to the release, Talnode-C produces “96% less greenhouse gas than incumbent EV battery anode produced in China”.
The company also reported that construction of its Electric Vehicle Anode qualification plant in Sweden is proceeding on track. Meanwhile the development of its anode and graphene products from its existing facilities in Germany, Japan and the United Kingdom are continuing as planned.
On the mining side, Talga commenced trial mining during the quarter at its Vittangi Graphite Project in Sweden. It plans to use the feed ore for expanded testing of Talnode-C.
Commenting on the company’s progress, Talga’s managing director, Mark Thompson said:
During the quarter we made strides in achieving key long term strategic goals, focusing on financing our first commercial anode project and toward future expansions to become the largest anode producer outside of Asia.
We have also been successful in our exploration and trial mining of what is already Europe’s largest natural graphite resource, towards securing the critical raw material needed to produce the world’s greenest anode for more sustainable batteries.
As at 30 September, Talga had a cash balance of $46 million.
Talga share price snapshot
The Talga share price has gained 54% over the past 12 months. That’s more than twice the 23% gains posted by the All Ordinaries Index (ASX: XAO) during that same period.
Over the past month, Talga shares are up 21%.
The post Why the Talga (ASX:TLG) share price is charging 10% higher today appeared first on The Motley Fool Australia.
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.