Too much guesswork involved to determine how the JV might work.
e.g.... Will the partners want joint ownership of the IP? Only the resource? Board seats? Passive or active participation?
Talga owns IP in several diverse aspects... treating the graphite in various ways, graphite as a graphene additive, graphite as anode and so on. It's impossible to know in advance how the JV discussions will conclude.
Secondly, it is an assumption that the development finance will be done solely as an equity raising. Once the JV is signed a debt financing deal is much more likely (imo) in which case 80%+ would be debt financing and 20% equity financing if you assume the usual format for these things. So maybe $30M from each partner and $30M from TLG. (I also expect that any equity issued to the JV partners will be done at a significant premium... the SP does not reflect the intrinsic value of either the resource or the IP.)
MT has done a lot to keep the SOI number low, he mentioned it in the recent presentation and is obviously proud of the fact. I doubt he will squander that.
TLG Price at posting:
$1.78 Sentiment: Hold Disclosure: Held
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