Talga's Current NPV, page-134

• Capital raised price of $1.45. Was able to get 55 Million at that price. Big endorsement for that price. So if you buy below $1.45, you should be reasonably safe. (Only if we do get permitting)
• Was able to do feasibility study for Talnode product. This should be positive in mining application.

• No transparency since drilling started in 2012 at Vittangi, what the deal is with the delays for permitting. Its been 10 years. Two trail mines, one in 2015 and one in 2020. What happened after 2015 trial mine. Why did it not go to the next step. What did Sweden say?
• All the MOU and non binding agreements since IPO in 2011 with potential customers that just went silent. No transparency what happened. What was the feedback from them?

• What happens to our capital with no permitting?
• Could not do feasibility study for Graphene product. So been chasing the wrong product for years. While paying themselves with capital raised.
• LKAB (100% Sweden owned) our mining partner in Sweden have left the Joint Venture agreement. Why no transparency on what went wrong?

• Its hard to predict, but don't know why Sweden will really be compelled to change there minds.
• Sweden only approved one new mine in 10 years.
  
• Nunasvaara between Torne and Vittangi rivers. The rivers are both national rivers and protected through Natura 2000. The planned graphite mine would be adjacent to Lake Hosiojärvi, about 10 km north of Vittangi. The planned mining area includes a large area between the two rivers.

• The feasibility study rates natural AAM (Active Anode Material) at $11,250 per tonne. However natural anode is half the price of synthetic anode. Synthetic anode is forecasted to be $9,000 per tonne by 2025. So natural anode price will be half that. So $11,250 pricing is misleading. https://www.fastmarkets.com/insights/the-critical-need-for-synthetic-and-natural-graphite-to-meet-ev-sector-growth

• There is a strong possibility we will only be allowed to mine 19ktpa. This is open pit mine.
• Niska expansion for 100ktpa application was only submitted in September 2021. Underground mine, so more complicated in terms of pollution. Not sure we will get this.
• Saying we are "On-Track" then LKAB leaves one month later?
• What happened with BOSCH agreement? Tata steel agreement? Ship building?