Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

No surprises in the quarterly given the recent updates at the last investor webinar and materials published associated with the cap raise.

One interesting item that I have seen Talga reference previously, but have never elaborated on is below in Bold:

"Talga is also engaged in advanced discussions and due diligence processes with other parties under NDA regarding project financing and partnerships"

This is from the section discussing the MOU with Mitsui.

It would be interesting to know if these other 'parties' are 'instead of' or 'in addition to' depending on how negotiations pan out with Mitsui over the next few months. I'm sure Mark has an optimal number of partners he would want to work with 1 being the easiest, but 2-3 could keep the negotiations in favour of Talga if there is competitive tension between partners to buy-in.

I also recall from the Eureka Report interview with Alan Kohler approximately 1 month ago that Mark didn't even try and refute that Talga could become a takeover target given its unique position in Europe's Li-ion battery industry. This could also influence how Mark structures any potential JV deals to ensure shareholders benefit if there is a bidding war in the future.