So after some days of being extremely busy, ill be able to get in front of a keyboard and respond here, since I am named specifically (twice). Lets address the initial one from
@PrinceAlbert: why naming Natura 2000 in the conversation? Wasnt there a story where in sweden an area was marked to be Natura 2000 _after_ the area was approved for a mine, turning the mining approval on its head? Wasnt this done deliberately to prevent the mine? I might misremembering that one, but thats what is stuck in my head and it would make sense to prevent shinnanigans like this by requiring an "environmental impact" for designating an area Natura 2000.
Then on the topic of being disappointed.
I am specifically disappointed about the LKAB situation for two things.
First: it indicates a delay in getting to market. It might not be a delay, but if LKAB is out of the JV, its up in the air whether they help Talga with the underground mining at Niska. I am sure talga will be able to run the surface mine with any mining partner or even on their own. But underground mining is a different beast all together. Talgas biggest enemy right now is time. Time to market with their products. They cannot allow delays. In the contrary, they need to speed up as much as possible. Demand will outgrow their ability to provide product regardless and my concern is both for the economics of Talga and the environmental impact of NOT having Talga in Europe. On the product and technology fundamentals, they are not in question at all for me. Its the timing to market thats the biggy. @JMRB has put it nicely here:
https://hotcopper.com.au/posts/58038942/single , not forming a JV doesnt mean LKAB is out of the picture for that. HOWEVER, that ties directly into the second point.
Second: Poor communication. There are the statement that talks are "on track" and there was no indication from the AGM that the JV negotiations might be difficult. Then, any background that lead to the result is not communicated. While its not entirely in Talgas control if a partner is part of a JV or not and we simply cant blame Talga for LKABs drop-out since we dont know the background. That might not have been entirely in Talgas control. Communication on the other hand, IS 100% in Talgas control. And the communication is piss poor. No justifcation. No plan forwards without the LKAB JV, no statement whatsoever. Talga COULD (if it was true) state: "dont worry, we are still on good terms with LKAB, but the JV simply wasnt working for us. We are now looking into contracting LKAB or some other company for running the mine though". And all would have been fine! We are treated like children here. I want to be treated like an adult. I want the information as they are, I dont want to be mouth fed only the seemingly good stuff. Talga, grow some balls and say how it is for crying out loud! With the current communications desaster, I dont trust MTs breadcrumbs. At moment, I have to assume that they are not trustworthy because we have now a track reckord of poor communication. The Tesla model? While he might want to get information accross that Talga is in talks with Tesla (and its very likely), it might as well mean MT wants to be SEEN in talks with tesla to pump the share price. Like NVX. Not gonna buy it and neither does the market apperently.
In essence, Talga needs to get out of the swamp of MOUs and get into some hard evidence that things are getting moved. I love the development of the EVA plant. THATS progress! Also, what does it hurt talga to publically state the quality of their product in not uncertain terms? It doesnt hurt them. It might give competitors data to compare their products to them, but good! Customers are not stupid and are not convinced by power point comparisons anyway. Stop being shady and start taking us like adults.
Anyway, enough ranting. Not going to sell, but not "buying the dip" either. I am still convinced Talga is the big game in Europe battery supply. A unique opportunity. However, the communications part needs to get better. And seemingly the negotiations part too. Talga cant succeed if they cant negotiate working partnerships beyond MOUs and LOIs.
Happy trading my friends.
(20min delay)