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

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Ok, it is out of date given the recessionary/high inflation/short energy environment, especially in Germany and maybe they should do an updated one.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.

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

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.

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