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How much of each ASX graphite company’s market value is backed by net cash? The chart compares net cash from the September 2026 quarterly reports with each company’s market capitalisation. A handful of companies are valued close to or below their net cash, implying the market is putting little value on their projects. For most, the valuation sits well above their cash position. Net cash as at 30 September 2026, per company quarterly reports. Market capitalisation as at the 30 October 2026 close. Excludes capital raised after quarter end. All figures in US$. Includes ASX-listed companies with a graphite project, not always their main focus. Not investment advice.

🔋Graphite Market Weekly - week ending 30 October 2026 @Talga_Ltd signs a binding offtake term sheet with Japan’s Dainen Materials, reserving up to 2,000 tonnes per annum of Talnode-C anode material for five years from first deliveries expected in late 2027, with a definitive Master Supply Agreement targeted by March 2027. Plus equity sentiment, market movers, price moves & the latest in EV/batteries. Full edition👇 graphitehub.com/Graphite/New…

Four US policy updates that could impact graphite are expected in the next two months. A Section 232 update, the Section 301 excess-capacity outcome, Department of War guidance on Foreign Entity of Concern sourcing, and Prohibited Foreign Entity guidance are all expected in the December 2026 quarter, according to the latest quarterly report from @SyrahResources. After that, temporary relief from China’s graphite export controls is scheduled to expire in January, and the Section 301 review could lift tariffs on Chinese graphite and AAM in 2027. The next couple of months could go a long way to shaping the outlook for ex-China graphite supply.

🔋Graphite Market Weekly - week ending 23 October 2026 @NovonixBattery replaces its binding PowerCo offtake, which provided for a minimum of 32,000 tonnes of synthetic graphite over five years from 2027, with a framework agreement under which volume and price will be negotiated once PowerCo’s qualification is complete, and pays a second US$7 million amortisation to Yorkville, cutting the debenture balance to US$21 million. Plus equity sentiment, market movers, price moves & the latest in EV/batteries. Full edition👇 graphitehub.com/Graphite/New…

Shanshan has announced a private placement of up to RMB 4bn (US$600m), to be taken up entirely by Conch Group, its state-owned indirect controlling shareholder. RMB 2.5bn (US$375m) will go towards a new RMB 5.1bn (US$766m) anode base in Baotou, Inner Mongolia, with 150,000t a year of anode capacity and 50,000t of in-house graphitisation. The remaining RMB 1.5bn (US$225m) goes to working capital. At the maximum issue size, Conch’s controlled stake would rise above 30%, up from 21.9%, with a three-year lock-up on the new shares. Shanshan says the project will ease its capacity shortfall as EV and energy storage demand grows. The placement still needs state, shareholder and regulatory approval, and the project has yet to secure environmental approval or land rights.

🔋Graphite Market Weekly - week ending 16 October 2026 @focusgraphite secures up to C$554,050 in non-repayable funding from Société du Plan Nord for the Lac Knife access road, taking combined government infrastructure support to C$1.93 million with Natural Resources Canada’s First and Last Mile Fund, with geotechnical work and detailed engineering of the all-season road to Highway 389 now advancing. Plus equity sentiment, market movers, price moves & the latest in EV/batteries. Full edition👇 graphitehub.com/Graphite/New…

A new low for synthetic graphite emissions? Imerys targets <0.1 kg CO₂e/kg for next-gen SU-NERGY, partly swapping fossil feedstock for biomass residues, plus 100% low-carbon power. First gen cut CO₂ up to 60% vs conventional. Modelled for now. Read here: imerys.com/media-room/press-…

🔋Graphite Market Weekly - week ending 9 October 2026 @TitanMiningCorp agrees a term sheet with the U.S. Army for a 50-year Enhanced Use Lease at Anniston Army Depot, Alabama, to build a purified micronised and coated spherical graphite facility, with the Army taking a right of first offer on up to 10% of output. Plus equity sentiment, market movers, price moves & the latest in EV/batteries. Full edition👇 graphitehub.com/Graphite/New…

🔋Graphite Market Weekly - week ending 2 October 2026 @NextSourceMat signs a binding agreement for a US$30 million investment from Japan's Hanwa and JOGMEC, taking a 15% interest in its UAE battery anode facility, with Phase 1 ramp-up expected from H2 2027. Plus equity sentiment, market movers, price moves & the latest in EV/batteries. Full edition👇 graphitehub.com/Graphite/New…

🔋Graphite Market Weekly - week ending 25 September 2026 @EcoGraf's value engineering review identifies a potential 20% increase in Epanko Stage 1 capacity to 87,600 tpa, with C1 costs falling 5.8% to US$512 per tonne over the first decade. Plus equity sentiment, market movers, price moves & the latest in EV/batteries. Full edition👇 graphitehub.com/Graphite/New…