Well if you look at the annual report Talga has posted losses of...

Well if you look at the annual report Talga has posted losses of about ~13 million in the last two years. I mean, in the whole time talga has been around they have never "sold" a product in considerable volume to the market, unless it was various mining claims. As an aside, other posters have noted at how impressive it is that Talga has gotten where it is debt free and with only 400 million or so in market cap; talk about a lean operation that is resourceful with its finances.

So to recount, 55m in cash, no debt, but a run rate of 5-13mil per year for the last 5 years without any change in sales/free cash flow, yeah, why would an automated program rate Talga as anything but moderate?

Now a human, doing the diligence this board does, rating this a moderate is still excusable if you are not convinced about permits. For people like me who think permits are in the bag, this is a screaming buy at any price sub 2 dollar.