Joint Venture Expectations, page-87

It hurts but I tend to agree. I have come to accept that a delay or straight canceling of the JV with Mitsui (not with LKAB) is the most likely event.. and that its actually positive for Talga. Not the share price probably but if the alternative is to give away a quarter of the company in exchange, I am actually leaning towards a delay/cancel.

However, if the JV is structured around .. say 30% of Vittangi+Niska profits in exchange for Vittangi+Niska funding, I would like to see the light of THAT JV structure. Say LKAB gets good price for the ore, and Mitsui gets ~30% of the Vittangi+Niska project (the 100ktpa anode production) in exchange for funding of Vittangi+Niska. That is still a nice return on investment for them and further expansions could be financed by Talga without help, limiting dilution of the project to part of the initial project. Not sure if this option is in the cards though.