Ann: LKAB And Mitsui Sign LOI Extension With Talga, page-216

Many thanks to all good contributors, who, despite the apparent stressful time for many, keep their head cool.

There must be building up a tremendous momentum in Europe to push the Swedish Government to release the necessary mining permits to satisfy the ''Green Revolution". Unfortunately, their politicians are currently more occupied with their own survival. Luckily, the permit process can move forward quite a while before the final decision by the government has to be made.

Two things I am interested in as well are:
1. The story that never will be told, i.e. the negotiations between Talga & LKAB. Both will benefit of their cooperation, but their position is different. LKAB will negotiate a hard deal as Talga is fully dependent on them. Yes, they can opt out, but it will delay the project for years. A game of chicken is going on imho. Eventually we will only see the result in some contractual format.
2. Following Mark Thompson for quite some years, he surprises me with his strategic moves. Therefore, I am interested in how he (rd Talga Board) will manage the demand from the market. In other words, to what extend will Talga expand its projects (and products) and at what speed. The bigger the project, the more interested LKAB will be, but that will be at a cost shareholders may not want to pay for it through significant dilution. Overextending is tempting, but not always smart. Fully trust Mark that he will surprise me again despite that the game is more complex with all those big and small parties involved.

It is a time so critical that Talga can not make frequent announcements. Our best support to Talga is keeping our cool.

Best of luck to all!