Ann: Trading Halt, page-64

To me this raise is pretty easy to understand. It’s just working capital required to keep the lights on while we wait for the very slow moving Swedes to get on with throwing out this last appeal. In the scheme of things it’s a very small raise, and it’s most likely to have been sold to and already supported by the Perth millionaire boys club from the banks of the Swan river over there. It’s also being supported by members of the board as per the announcement, and yet we still have imbeciles on here talking about ‘skin in the game’.. Jesus wept!

You can let that fact it's only open to those Euroz Hartleys sophs get your nose out of joint if you want, but personally I couldn’t be bothered. The thing to think about is why only 10m at this point in time?

For me the answer is pretty obvious. The company does need to maintain a safety cushion of cash on hand to cover all eventualities and comply with ASX rules. However it doesn’t seem to think a runway past a six month period is required at this time. Obviously they are thinking that this will be the last raise before Ebba Busch and her ministry finally get off their collective arses and quash the NIMBY’S final appeal, thus unlocking all that is to come regarding funding and FID. The game here is to minimise dilution, which in my mind Mark has done an incredible job of. Others here seem to think the sky is falling every time more capital is required and have all sorts of bullcrap to sprout about poor financial governance etc. Like if they were at the helm their Nostradamus-like foresight would have predicted everything from pandemics to sickness in Swedish judges and ensured that capital was only ever raised at the absolute optimum time. 450m (approx) shares on issue after this raise is not a huge amount by any stretch for the journey Talga has been through to this point. Those that stay the course with Talga are going to do very, very well out of their investment in my view.