You aren't going to get much punch from retail these days. We...

You aren't going to get much punch from retail these days. We aren't in the covid stimulus market anymore and the average investor now has interest rates & cost of living among other concerns. The share price should move once further de-risked with institutional investors, ESG funds etc. jumping in. By de-risked, I mean finance totally locked in and with binding purchase agreements. The graphite industry has a mostly dirty reputation. Contrast this with how and where Talga are going to be operating. This, along with a big tick of approval from the EIB basically ensures that ESG funds will be attracted.

I understand the frustration about our share price because the announcements we've had this year, if they occurred in 2021, would have seen a run similar to what NVX had after Dahn joined and the Phillips 66 strategic investment. Remember, our ATH occurred purely because the deadline for a JV with LKAB and Mitsui was approaching in the same year. We've since had far stronger catalysts occur, so it really shows that we're in a completely different market now. Look at how other anode plays are valued in the current market. It isn't just Talga.

The macro environment may have gotten worse, but Talga has undoubtedly made strong progress in becoming Europe's first commercial anode producer. What happens when Talga has made all this progress and next year the macro improves with interest rates starting to get cut? A rough clam begins to open, we then see a fully formed pearl inside.