Capital raising up with effect of US grants
This month nominally saw capital raised in battery raw materials increasing, as the total raised reached US$1.18bn, but if one backs out the impact of the grants awarded by the US government, then the situation does not look as rosy. In fact, without the US$625m awarded to raw materials projects by the US government, only US$555m was raised in the month. Even with the full amount, capital raised YTD remains down compared to 2021 levels, and without sounding like a stuck record, that’s not good enough. We’ve noted a number of times that we are not seeing enough funding going...