Likely due to the fact MT mentioned no funding or offtakes until...

Likely due to the fact MT mentioned no funding or offtakes until the permits are sorted. Gives a clear opportunity to push the SP lower until the permits are resolved.

We don't know if leave to appeal will be given for the mine permit until the 14th of June, and if leave to appeal is granted we have no idea how long that will take.

The decision for the Refinery permit won't be handed down until the 21st of June. If the County Administrative Board decide to appeal that due to their concerns with the zinc and mercury levels in the water then we won't know if leave for appeal is granted until probably another month after that. This would take us to at least the end of July. If leave to appeal is granted then again we have no idea how long that will take from there.

So if all goes well and the refinery permit is granted and no leave to appeal is given on both permits, Talga should be officially permited and able to execute offtakes and funding by July/August.

If leave to appeal is granted for either of the permits then we have an unkown timeframe for having that resolved. We would all like to think the court will resolve the appeals in a timely manner, however to ensure the parties have their appeals heard properly, and knowning the Swedish courts, this could drag on for many months longer.

Talga have absolutely no control over the court process and I'm confident they have done everything they absolutely can to ensure success, but it is just such a frustrating situation.