Ann: Nunasvaara Mine Detailed Plan Update, page-4

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Project-Level Impact

1. Key Step Toward Mine Development: The recommencement of the detailed planning process is a crucial milestone. It brings Talga closer to obtaining necessary permits for construction and operation.
2. Clearer Timeline: The deadline for the adoption of the detailed plan is now set for 16 June 2025, giving Talga and stakeholders a clearer schedule for project progress.

Investor Impact

1. Improved Confidence: The decision, backed by both local and national authorities, signals institutional support for the project, potentially boosting investor sentiment.
2. Stock Catalyst: If the detailed plan is successfully adopted, it could serve as a short- to mid-term catalyst for Talga’s share price.

Government and Policy Impact

1. Clearer Municipal Position: The Kiruna Municipality’s move to resume planning work suggests reduced political uncertainty and possibly a more supportive stance on mining development.
2. Cooperation Between Levels of Government: The Ministry's approval of the extension indicates a level of coordination and understanding between local and national authorities regarding the project's importance.

⚠️ Risks and Considerations

• Not Yet Approved: Although the process has resumed, the detailed plan still needs to go through reviews, potential public consultations, and possible legal challenges.
• Timeline Shift: The extension also means that the overall project timeline is pushed back, which may affect funding schedules or partner confidence in the short term.