OREMAVEN
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2026-11-06
◂ Monitor TLG ASX

Talga Group Ltd

DFS Unfunded Developer · Graphite · Sweden Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.2
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1M
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Upside
Locked: sign in to view
Mkt cap
A$102.2M
EV
A$91M
Cash
A$18.7M
Debt
A$0
3 newer ASX announcements not yet reflected in this valuation

Narrative and provenance

Research & Sources

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Chronological evidenceSource-document inventory19 documents
TLG ASX daily close on 25 September 2026Market Data · HighExtracted

Latest eligible local ASX close selected by miners.reference_price for the valuation date.

Document ID
doc.market-price.2026-09-25
Published UTC
2026-09-25T06:00:00Z
Projects
—
Commodities
—
Open original source ↗
Talga signs anode supply LOI with EAS BatteriesEconomic Arrangement · HighExtracted

Non-binding EAS anode qualification and potential five-year supply framework; price and volume are unagreed.

Document ID
doc.eas.2026-09-16
Published UTC
2026-09-15T22:58:00Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Talga and Fortum strategic graphite MoUEconomic Arrangement · MediumExtracted

Non-binding framework to assess recovered-graphite feedstock, blended anode products, and potential energy supply; indicative supply extends well beyond the 12-month event horizon.

Document ID
doc.fortum.2026-09-14
Published UTC
2026-09-13T22:17:00Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Q4 Investor Presentation and Webinar recordingPresentation · MediumExtracted

Q4 presentation updated commercial programs, Japanese LOIs, FEED review, funding outreach and the permitted project pathway.

Document ID
doc.presentation.2026-08-04
Published UTC
2026-08-04T04:54:09Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Quarterly Activities and Appendix 5B for quarter ended 30 June 2026Operations · HighExtracted

Latest quarterly report records first commercial Nyobolt deliveries, completed technical FEED work packages, funding progress and June liquidity.

Document ID
doc.quarterly.2026-06-30
Published UTC
2026-07-30T09:20:16Z
Projects
vittangi_anode_project · aero_critical_minerals · jalkunen_graphite · raitajarvi_graphite
Commodities
graphite · lithium · rare_earths · others
Open original source ↗
FYQ3 Investor Webinar PresentationPresentation · MediumExtracted

Investor presentation described the 5,000 tpa staged pathway, qualification pipeline, funding strategy and resource inventory.

Document ID
doc.presentation.2026-05-15
Published UTC
2026-05-15T08:32:19Z
Projects
vittangi_anode_project · aero_critical_minerals
Commodities
graphite · lithium · rare_earths · others
Quarterly Activities and Appendix 5B for quarter ended 31 March 2026Operations · HighExtracted

Quarterly report covered staged FEED, permitting, Aero exploration, Kiskama expiry, liquidity and capital structure.

Document ID
doc.quarterly.2026-03-31
Published UTC
2026-04-29T09:17:45Z
Projects
vittangi_anode_project · aero_critical_minerals · kiskama_copper_cobalt
Commodities
graphite · lithium · copper · cobalt · rare_earths · others
Open original source ↗
Half Yearly Report and AccountsResults · HighExtracted

Half-year accounts report cash, restricted grant funds, issued capital, project progress and material going-concern uncertainty.

Document ID
doc.half-year.2025-12-31
Published UTC
2026-03-12T08:07:31Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Application for quotation of securities - TLGCorporate Action · HighExtracted

Appendix 2A records 414,897 non-cash shares issued for land access and the post-quotation capital structure.

Document ID
doc.capital.2026-03-05
Published UTC
2026-03-05T07:35:57Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Quarterly Activities and Appendix 5B for quarter ended 31 December 2025Financing · HighExtracted

Quarterly report documented the staged 5,000 tpa FEED, equity raising, restricted grant funding and permitting progress.

Document ID
doc.quarterly.2025-12-31
Published UTC
2026-01-30T03:26:00Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Quarterly Activities and Appendix 5B for quarter ended 30 September 2025Operations · HighExtracted

Quarterly report covered customer validation, Talnode-R launch, grant support, capital structure and liquidity.

Document ID
doc.quarterly.2025-09-30
Published UTC
2025-10-30T02:11:34Z
Projects
vittangi_anode_project · aero_critical_minerals
Commodities
graphite · lithium · others
Open original source ↗
Talga Group Ltd Annual Report 2025Results · HighExtracted

Audited annual report provides financial statements, resource and reserve inventory, permits, tenements and going-concern disclosures.

Document ID
doc.annual-report.2025
Published UTC
2025-10-15T01:36:35Z
Projects
vittangi_anode_project · jalkunen_graphite · raitajarvi_graphite · kiskama_copper_cobalt · vittangi_iron · aero_critical_minerals
Commodities
graphite · lithium · copper · cobalt · iron_ore · rare_earths · others
Open original source ↗
Aurubis recycled graphite supply frameworkEconomic Arrangement · MediumExtracted

Non-binding recycled graphite supply framework after successful pilot testing; definitive contracts required.

Document ID
doc.aurubis.2025-09-24
Published UTC
2025-09-23T23:00:00Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Binding Vittangi anode offtake with NyoboltEconomic Arrangement · HighExtracted

Binding fixed-price Talnode-C offtake totals approximately 3,000 tonnes over an initial four years, conditional on commercial production milestones; the price is confidential.

Document ID
doc.nyobolt.2025-05-14
Published UTC
2025-05-13T22:17:00Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Altilium recycled graphite MoUEconomic Arrangement · MediumExtracted

Non-binding proposed recycled graphite feedstock supply for Talnode-R.

Document ID
doc.altilium.2025-02-27
Published UTC
2025-02-27T01:00:00Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
SQM Aero lithium earn-in agreementEconomic Arrangement · HighExtracted

Historical conditional earn-in, subsequently mutually terminated in January 2026.

Document ID
doc.sqm.2024-06-21
Published UTC
2024-06-20T22:00:00Z
Projects
aero_critical_minerals
Commodities
lithium
Open original source ↗
Vittangi Expansion Interim Scoping Study - ClarificationStudy · HighExtracted

Clarification restated the preliminary expansion study and quantified maximum early-life Inferred resource proportions.

Document ID
doc.scoping-clarification.2024-06-11
Published UTC
2024-06-11T07:22:54Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Interim Scoping Study Report shows expansion potentialStudy · HighExtracted

Preliminary underground mining study evaluated 0.6, 1.0 and 2.0 Mtpa expansion cases at plus or minus 50 percent accuracy.

Document ID
doc.scoping.2024-05-31
Published UTC
2024-05-30T22:19:12Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Vittangi Anode Project FEED study delivers strong resultsStudy · HighExtracted

AACE Class 3 FEED refined the integrated 19,500 tpa design and updated capital cost and construction timing.

Document ID
doc.feed.2024-04-15
Published UTC
2024-04-14T22:32:34Z
Projects
vittangi_anode_project
Commodities
graphite
Open original source ↗
Evidence facts101
fact.feed.capacityTalnode-C design capacity

19500 tpa

2024-04-15
fact.feed.capexFEED capital cost excluding contingency

560000000 EUR

2024-04-15
fact.feed.contingencyFEED contingency excluded from capital cost

39000000 EUR

2024-04-15
fact.feed.timelineConstruction and commissioning duration to first production

18-24 months None

2024-04-15
fact.scoping.resource_tonnesVittangi total mineral resource

35020000 t ore

2023-10-06
fact.scoping.resource_gradeVittangi total mineral resource grade

23.8 % Cg

2023-10-06
fact.scoping.stope_tonnesDesigned underground stope resource

21699000 t ore

2024-05-31
fact.scoping.stope_gradeDesigned underground stope resource grade

21.5 % Cg

2024-05-31
fact.scoping.capex_lowExpansion mining and processing capital cost low case excluding contingency and owners costs

527700000 EUR

2024-05-31
fact.scoping.capex_highExpansion mining and processing capital cost high case excluding contingency and owners costs

1067100000 EUR

2024-05-31
fact.scoping.priceTalphite mine optimisation product price

4000 USD/t

2024-05-31
fact.clarification.accuracyExpansion mining study accuracy

plus or minus 50 percent None

2024-06-11
fact.clarification.lomUnderground mine lives for 0.6, 1.0 and 2.0 Mtpa cases

39, 25 and 16 years None

2024-06-11
fact.ar25.cashCash and cash equivalents

13184029 AUD

2025-06-30
fact.ar25.going_concernMaterial uncertainty related to going concern

True None

2025-10-15
fact.ar25.vittangi_indicatedVittangi Indicated mineral resource

26691000 t ore at 24.3% Cg

2025-06-30
fact.ar25.vittangi_inferredVittangi Inferred mineral resource

8329000 t ore at 22.1% Cg

2025-06-30
fact.ar25.reserveNunasvaara Probable ore reserve

2260140 t ore at 24.1% Cg

2025-06-30
fact.ar25.jalkunenJalkunen Inferred mineral resource

31500000 t ore at 14.9% Cg

2025-06-30
fact.ar25.raitajarviRaitajarvi mineral resource

4300000 t ore at 7.1% Cg

2025-06-30
fact.ar25.kiskamaKiskama Inferred mineral resource

7672000 t ore at 0.25% Cu and 0.04% Co

2025-06-30
fact.ar25.ironVittangi Iron Inferred mineral resource

46100000 t ore at 28.7% Fe

2025-06-30
fact.ar25.eu_grantEU Innovation Fund grant award subject to milestones

70000000 EUR

2025-06-30
fact.management.mdManaging Director

Mark Thompson None

2025-10-15
fact.management.ceoGroup Chief Executive Officer

Martin Phillips None

2025-10-15
fact.management.secretaryCompany Secretary

Dean Scarparolo None

2025-10-15
fact.group.subsidiariesWholly owned Swedish operating subsidiaries

Talga AB; Talga Battery Metals AB; Talga Tech AB; Jalk Graphite AB; Raita Graphite AB None

2025-06-30
fact.nyobolt.bindingBinding Nyobolt offtake announced

yes None

2025-10-15
fact.altilium.mouAltilium recycled graphite MoU announced

non-binding None

2025-10-15
fact.aurubis.developmentAurubis recycled graphite development agreement

active None

2025-10-15
fact.q1.cashQuarter-end cash

8063000 AUD

2025-09-30
fact.q1.sharesQuoted ordinary shares

456200000 shares

2025-09-30
fact.q1.grantSwedish Energy Agency grant awarded after quarter end

13300000 AUD

2025-10-17
fact.q2.cashQuarter-end cash

28378000 AUD

2025-12-31
fact.q2.restrictedRestricted Swedish Energy Agency grant cash

13350000 AUD

2025-12-31
fact.q2.placementInstitutional placement proceeds before costs

14500000 AUD

2025-12-10
fact.q2.stage_capacityStaged commercial anode plant capacity

5000 tpa

2026-01-30
fact.q2.detailed_planNunasvaara South Detailed Plan in force

True None

2026-01-30
fact.sqm.terminationSQM Aero earn-in terminated

mutually terminated after Swedish authority delay prevented conditions precedent None

2026-01-30
fact.capital.ordinaryQuoted ordinary shares after quotation

510926796 shares

2026-03-05
fact.capital.issueOrdinary shares issued for land access agreement

414897 shares

2026-03-04
fact.capital.options58aOptions expiring 11 February 2028 at A$0.58

26552593 options

2026-03-05
fact.capital.options58bOptions expiring 29 May 2027 at A$0.58

8333331 options

2026-03-05
fact.capital.options100Options expiring in 2028 at A$1.00

6460000 options

2026-03-05
fact.capital.rightsPerformance rights

500000 rights

2026-03-05
fact.hy.cashCash and cash equivalents

28378110 AUD

2025-12-31
fact.hy.restrictedRestricted Industrial Leap grant cash

13454622 AUD

2025-12-31
fact.hy.sharesFully paid ordinary shares

492682912 shares

2025-12-31
fact.hy.going_concernMaterial uncertainty related to going concern

True None

2026-03-12
fact.q3.cashQuarter-end cash

28146000 AUD

2026-03-31
fact.q3.customer_receiptsCustomer receipts

57000 AUD

2026-03-31
fact.q3.kiskama_expiredKiskama exploration tenement expired and was not renewed

True None

2026-03-31
fact.q3.plan_in_forceNunasvaara South Detailed Plan gained legal force

True None

2026-01-01
fact.q3.runwayEstimated quarters of funding

6.72 quarters

2026-03-31
fact.v4smart.jdaV4Smart joint development agreement

anode qualification for fast-charge cells None

2026-04-29
fact.ucc.facilitatorUnited Catalyst Corporation engagement

US contracting representative and programme facilitator None

2026-04-29
fact.pres.stage_timingIndustrial Leap target production period

2027-2028 None

2026-05-15
fact.pres.full_timingFull-scale target production period

2028-2029 None

2026-05-15
fact.pres.qualificationsActive customer qualification and technical validation programs

21 programs

2026-05-15
fact.q4.cashQuarter-end cash

18666000 AUD

2026-06-30
fact.q4.restricted_cashIndustrial Leap grant cash held in reserve

7460000 AUD

2026-06-30
fact.q4.operating_outflowNet operating cash outflow

3534000 AUD

2026-06-30
fact.q4.runwayEstimated quarters of funding

5.28 quarters

2026-06-30
fact.q4.customer_receiptsCustomer receipts

51000 AUD

2026-06-30
fact.q4.eibEIB board-approved debt facility currently undrawn

150000000 EUR

2026-06-30
fact.q4.eu_grantEU Innovation Fund grant currently undrawn

70000000 EUR

2026-06-30
fact.q4.nyoboltInitial binding Nyobolt offtake

3000 t over 4 years

2026-06-30
fact.q4.first_deliveryCommercial delivery under Nyobolt offtake commenced

True None

2026-06-30
fact.q4.construction_targetCommercial-scale plant construction target

2027 calendar year

2026-07-30
fact.management.ctoChief Technical Officer

Anna Motta None

2026-07-30
fact.japan.loisJapanese anode offtake LOIs

Mitsubishi Chemical, Dainen and Hanwa, non-binding; target term sheets September 2026 and definitive agreements December 2026 None

2026-07-30
fact.hanwa.investmentHanwa potential strategic project investment

non-binding LOI with terms undetermined None

2026-07-30
fact.q4pres.qualificationsActive customer qualification and technical validation programs

30 more than programs

2026-08-04
fact.q4pres.feed_completionRemaining FEED stakeholder, IP and risk work due

2026-09-30 None

2026-08-04
fact.q4pres.permitsAll key mine and refinery permits in force

True None

2026-08-04
fact.q4pres.offtake_term_sheetsJapanese LOI conditional term sheet target

2026-09-30 None

2026-08-04
fact.q4pres.offtake_definitiveJapanese definitive agreements target

2026-12-31 None

2026-08-04
fact.market.closeUnadjusted close

0.27 AUD per ordinary share

2026-09-25
fact.market.volumeDaily volume

190294 shares

2026-09-25
fact.market.providerSource provider

market data provider via miners.collect_stock_prices None

2026-09-25
fact.market.security_basisSecurity basis

one ASX TLG ordinary share None

2026-09-25
fact.market.eas.precloseClose before EAS LOI

0.255 AUD per ordinary share

2026-09-15
fact.market.eas.daycloseClose on EAS LOI date

0.275 AUD per ordinary share

2026-09-16
fact.nyobolt.volumeInitial contracted total volume

3000 t Talnode-C

2025-05-14
fact.nyobolt.termInitial term

4 years from 13 May 2025

2025-05-14
fact.nyobolt.pricePricing

fixed, amount undisclosed None

2025-05-14
fact.nyobolt.conditionsVolume condition

commercial production milestones; renegotiation if forecast volumes not achieved None

2025-05-14
fact.altilium.volumeProposed maximum recycled graphite volume

16000 t over three years from 2026

2025-02-27
fact.aurubis.volumeIndicative maximum annual volume

10000 t recycled graphite per year by 2030

2025-09-24
fact.aurubis.startExpected first deliveries

2028 None

2025-09-24
fact.aurubis.purityPilot product purity

99.95 percent

2025-09-24
fact.sqm.earninMaximum proposed SQM earn-in

70 percent Aero interest for US$19m staged spending

2024-06-21
fact.sqm.graphiteGraphite rights retained by Talga

100 percent

2024-06-21
fact.fortum.statusMoU status

non-binding; commercial structures and technical feasibility under evaluation None

2026-09-14
fact.fortum.scopeCollaboration scope

recycled graphite feedstock, blended anode development and potential power supply None

2026-09-14
fact.fortum.indicative-volumeIndicative recycled graphite supply

400 tpa from 2029, up to 10,000 tpa by 2034 None

2026-09-14
fact.fortum.expiryMoU outside expiry

2033-12-31 None

2026-09-14
fact.eas.termProposed supply term

5 years

2026-09-16
fact.eas.term-sheetTarget binding term sheet

April 2027 None

2026-09-16
fact.eas.definitiveTarget definitive agreement

July 2027 None

2026-09-16
fact.eas.economicsPricing and volume status

EUR pricing model and volumes to be negotiated None

2026-09-16