"Why did NOU not also get some of this free money?"They're in...

"Why did NOU not also get some of this free money?"

They're in Canada. The E.U. is the one offering the huge subsidies for battery raw materials.


"Why did they have to give away 21% of the company for Capital Raising."

NOU needed money to build their trial mine, purification facility, and coating units that are expected to go into operation in H1 2022. Talga already raised money for their pilot plant last year. MT has run a tight ship and Talga has plenty of cash on the balance sheet to carry us through EVA production.


"If we have all this free money coming our way. Why extend agreement with Mitsui from July to November?"

First, a lot of that "free" money has only begun becoming available in the last three months. As fears grow over China's control of the battery supply-chain, securing local raw materials is rapidly becoming a higher priority. It's leading the E.U. to take a bigger role in assisting (financially and otherwise) domestic raw material projects of all sorts.

A to the extension, lots of potential reasons so hard to speculate. The mistake is assuming all of those reasons are bad (though some of them could be). Maybe MT is driving a hard bargain, because he thinks he can retain more equity. He has a history of playing it tight with equity (which is why he's been able to retain a 5% stake after 10 years in the pre-revenue phase). As flake graphite prices continue rising and the E.U. expands funding programs for projects like Vittangi, Talga's leverage is increasing over time. On Talga's end, there is no need to rush the JV agreement (other than to appease short-sighted investors).

As a side note: While some seem to have given up on the JV agreement coming this month, I have not. Talga has a history of announcing at the deadline (often on Swedish time - a day late in Australia), and there are still two days left in November. Regardless, getting the right deal is far more important than getting the quickest deal. After 10 years of carefully building the business brick by brick, it would be unwise to rush into anything if MT thinks he can do better with patience.

Honestly though, it's growing tiresome reassuring you every time the SP drops, especially when we have to cover the same fears over and over again. As I told you last month, I think you should sell. I don't think you understand the battery industry, and it's unwise to invest in companies/industries that you do not understand. Moreover, it's clear that you're out over your skis on the investment - which is why you start to panic every time the price falls.