@Nccc123123 I'm sure you're not the only one thinking that but I'm not one of them. "Later this year" is within the next 6 months. There are many pieces of the puzzle needing to be ticked off before FID can be achieved, and without permits many of those items were stuck. Personally I'm happy to hear that timeline as it means we should be expecting many materials announcements regarding offtakes and strategic partners in the next few months with known debt followed by new funding ANN's to follow. And MT will never commit to a firmer timeline.
The pivot to more industrial customers (who are likely strategic partners) would have caused delays as well as the fact that Talga are pursuing funding via the CRMA, and such funding could only be initiated post strategic status designation. So on one hand we've had some further dilution and a poor sp as we wait, but if MT is correct, we'll have higher profit margins, predominantly project equity rather than Head Co equity, and more debt funding and/or State Aid.
If Talga had been able to pull the trigger on FID earlier, we'd very likely approach stage 1 with significantly more dilution in Head Co, a lower sale price on Tal-C, all leading to a lower EPS and lower share price for who knows how long.
Having been a holder for over a decade it's safe to assume I've now got grey hair, but I really like how Talga have pivoted and how they're positioned. Talga have such strong macro tailwinds behind them I think they're unstoppable. From a fundamentals standpoint, I dont recall ever seeing a better prospect. I'll gladly wait as long as MT and team need to build Talga into the awesome company I know they can become.
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