Financing And Dilution RiskRecent equity raises and the likely need for additional capital increases the risk of shareholder dilution and financing pressure before the project reaches cash flow.
Market Price And Operational RisksExposure to anode-material and graphite price swings, together with operational, technical and permitting challenges, could materially affect project economics and timelines.
Pre-revenue Execution RiskThe company remains pre-revenue, which raises execution risk if development milestones are delayed or if customer sampling efforts do not convert to commercial sales.