Firstly, it is very normal for major Japanese conglomerates to have an equity stake in smaller companies they are associated with, this is their traditional business model.
Secondly, there is a big difference between what LKAB or what Mitsui may want and what TLG is prepared to offer. Just because either of those companies are very large institutions does not necessarily mean they hold all the cards and the upper hand. Last time I looked TLG has 100% of Vitangi, just been drilled with results due any day and Jalkunnen, similar scale due to be drilled Q1 2022. The recent strongly buying interest may well be from some of those interests ensuring they acquire enough of a equity at a price prior to any announcements on Vitangi or the JV or both.
Finally, LKAB is important, but they are not the only major mining outfit in the district. Boliden have a huge mine at Aitik.
TLG Price at posting:
$1.78 Sentiment: None Disclosure: Held
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