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    David Talbot

    Research Analyst at Red Cloud Securities

    David Talbot is Managing Director, Head of Research, and Senior Equities Analyst at Red Cloud Securities, specializing in mining sector research with a primary focus on uranium, lithium, graphite, cobalt, and iron ore companies. He covers firms including Global Atomic and ValOre, and is well-regarded for his deep sector expertise, consistently providing high-impact investment insights across junior resource stocks, although detailed performance metrics are not publicly disclosed. Talbot began his career as a geologist with Placer Dome, Franco-Nevada, and Newmont Capital, transitioned to equity research in 2003 at Dundee Capital Markets (now Eight Capital), and joined Red Cloud Securities in 2021 to head its research team. He holds an Honours B.Sc. in geology from the University of Western Ontario, is a member of PDAC and SEG, serves on the PDAC Convention selection committee, and is regularly featured in prominent media outlets.

    David Talbot's questions to Electra Battery Materials (ELBM) leadership

    David Talbot's questions to Electra Battery Materials (ELBM) leadership • Q3 2023

    Question

    Inquired about the timeline for the black mass trial report, the potential ramp-up, the associated capital expenditure, the sales price of the MHP produced, and customer feedback on its quality.

    Answer

    The black mass report is expected by the end of January, as the technical team is also occupied with funding applications. The capital for the black mass facility (estimated around USD 6M in a desktop study) is separate from the cobalt plant's USD 60M completion cost. A ramp-up would only occur after a feasibility study and securing capital. The 20 tonnes of MHP sold for approximately USD 82,000. Customer feedback has been positive, with the product exceeding specifications for metal content and being well below impurity limits.

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