Although the Talga Resources Ltd (ASX: TLG) share price finished the day 2% lower at $1.74 on Thursday, that is only really half the story.
At one stage today, the battery anode company's shares stormed as much as 13.5% higher to a record high of $2.01.
When the Talga Resources share price hit that level, it meant it had gained a remarkable 328% since the start of the year.
Why is the Talga Resources share price at a record high?
Investors have been fighting to get hold of the company's shares this month following a couple of promising announcements.
The first came on 2 November when the company announced that it had entered into a non-binding tripartite letter of intent with international high-tech mining and minerals group Luossavaara-Kiirunavaraa Aktiebolag and Mitsui & Co. Europe.
The three parties are discussing the joint development of the Vittangi Anode Project in Sweden. This project is part of its plan to establish a European supply of sustainable, low-CO2 emission anode materials for lithium-ion batteries.
Two days later the company revealed that it has received a commitment for grant funding under the UK Government's Automotive Transformation Fund to complete a preliminary feasibility study into the commercialisation of its silicon anode product in the UK.
Talga has been developing its silicon anode lithium-ion battery product, Talnode-Si, both at its battery materials centre in Cambridge, UK, and under the now concluded Faraday SAFEVOLT program.
It notes that this work demonstrated a promising commercial route to produce higher-energy density anodes for Li-ion batteries, with the potential to significantly increase the driving range of electric vehicles.
Talga's Managing Director, Mark Thompson, commented: "With a large automotive industry employing nearly 800,000 people and a rich history of iconic manufacturers such as Jaguar-Land Rover, Rolls-Royce, Bentley, Aston Martin, McLaren and many more, we see significant growth opportunities in the UK's electrification process causing increased demand for our battery materials."
"Our Cambridge-based battery material and technology facility has and continues to receive excellent support from Government agencies committed to a sustainable UK automotive industry," he added.
