Ann: Disclosure under Takeovers Panel GN 20, page-34

Price manipulating algo's ..'provide liquidity' according to the ASX Questy. I’ve let that shit twist me outta shape for years, trust me get over it, it’s not gonna change. It’s one of the games the big boys get to play that we don’t. You might as well make your peace with it.

There is something that does render them useless though and it’s this .Thinking about Talga over the last few days a word has sprung to mind, and that word is UNDENIABLE. We are all just in a holding pattern until the Vittangi project, from mine, to concentrator, to luleo anode plant, becomes UNDENIABLE. Undeniable to the Sami, undeniable to the Nimby mushroom enthusiasts, to the equivocating Swedish politicians and Councilmen. But most of all the ASX market.

And when I say UNDENIABLE I mean the following

Up in Kiruna

• The municipality stop there incessant bitching and adopt the detailed plan

• The last challenge to the mining concession is quashed by the Swedish government

• The debt consortium structure is announced along with the final investment decision

• There is at least one major offtake announcement, possibly from an OEM that may be part of the debt consortium, ie owns a piece of the project ( Not company )

• Mining works begin at Vittangi

• The ROM pad, concentrator building, haul roads etc are being constructed

• Significant progress milestones are met with media released to market

Down in Luleo

• Construction of the Anode factory begins in ernest

• Technology partner ABB are fully engaged and begin works on line robotics etc

• Significant progress milestones are met with media released to market

• Transport logistics are worked out / announced /contracts are awarded

The Kicker

• This is the HUGE one.. Massive expansion of 3,4 possibly 500ktpa on top of the 19ktpa initial allowance is applied for.

Now I will grant you that the last one may be a couple of years off. But that’s the one that we all need to remain focused on. That’s where you have a shot at making generational wealth from Talga in my opinion. As for the rest, there's a good bit of it that SHOULD begin happening within months. I loved this from Rhythm the other day so I’m gonna put it up again.. And yes I do believe we are here mate, yes indeed.

And I would add that some of those risks such as fluctuating commodity prices, cost overruns and geological risk .. well I just don't see any of them applying to Talga to a great degree.

1. Talga are making a high grade battery component, not digging up dirt and selling it. The Nyobolt offtake has given Tal c huge credibility and positioned it as a high performing state of the art component, esp with regard to fast charging.

2. It’s my belief that the first couple of mining seasons are going to be relatively straightforward ( very little overburden to deal with ) . I can't see the actual mining of the material creating any cost overrun. Maybe there is a risk of this on the processing side of things, though I doubt it. ABB is a great technology partner we have and this will have been meticulously planned out for quite some time by now, surely.

3. Geological risk… see the start of point to, or better yet go find the photo of the excavator sitting directly on top of the deposit after scratching the grass off and tell me how much geological risk there is.

Anyway a few thoughts and a bit of positivity from me. Enjoy your weekend Talgarians.