An interesting podcast providing high level summary on battery recycling.

In short it’s going to be a very saturated market that will have a very lean period over the next few years as end of life feedstock slowly increases.

Even then it’s likely to a very low margin business.

https://podcasts.apple.com/au/podcast/catalyst-with-shayle-kann/id1593204897?i=1000651413480

I don't want to be too expansive here, but if your holding this I suggest a hard think about why.

Sorry to be vague, just can't expand on what I have heard.

Decided some capital preservation appropriate so selling half of my NMT today leaving me the balance as a "free carry"

Patient People Pounce on Pullbacks

If we all buy a small amount of NMT today then Murphy's law says it drops below a dollar and we can back up the truck. Factoring in a bit of speculation, I had this valued around $1.50 in approximately 12 months' time. Wanted to average in over a few months but felt it best to sell into the hype. Let's see what happens from here.

Another in the series by the AFR.

I hadn’t really looked into this company, even though it’s got such a great narrative and tailwind.

as others have noted it now has some traction with the Mercedes JV.

They quote a 10x return on each ton of Li batteries they recycle (inputs free, $1600 of chemicals to process, $16000 cost of metals reclaimed by process). I doubt this includes CAPEX of building the plant, and no sums around payback period or ROI.

Still, a good listen, and I wish them the best of luck.

https://podcasts.apple.com/au/podcast/tech-zero/id1626215592?i=1000569052692

Wanted to add that there is a scoping study of the same process (LiB-R) to correct the comment in the last straw which has the NPV, Payback and IRR figures. I haven't really looked close but I think it assumes a 10 year project life.

You have to go back to 2019 to find the announcement

Ok, it is out of date given the recessionary/high inflation/short energy environment, especially in Germany and maybe they should do an updated one. But NMT constantly reassures us their hydrometallurgical process (did I get that right?) is much less energy intensive than conventional methods.

And to get an appreciation of the (very) long timeline up to this current point

Yes I hold in real portoflio (I got in late after the WIN dermerger) but not in strawman.