Look, of course it hurts. The little "who holds what" thread amongst long term posters here from a few weeks ago revealed millions of shares held by long term serious investors..... and that most of us are down big right now. Of course a year or so ago most of us were also up big! Small caps.... are a bumpy ride and the entire battery metals space is almost entirely a wipeout right now. My sense is that is mostly geopolitical, with global war looming, a trade and energy war, and a concerted effort in the USA/EU and media to slow down EV adoption as a counter to the dominance of China.... not that it will work.
Notwithstanding global politics.... TLG has been utterly done over by the Swedish system. Markets HATE uncertainty..... and on the 31st August 2023 the Land and Environment Court through out appeals and gave NO grounds to grant leave to appeal.... that SHOULD have been the end of it. The fact that literally a handful of local activists who's strongest argument was we want green energy but "batteries should use something other than graphite" we able, at no financial cost, to appeal to the High Court, be given a preferential extension to submit their appeal, then........ as the Court's own self imposed goal of looking at the appeal in 3 months came and went with no word, TLG requests more info, only to be fobbed off. And now, we are coming up on a year of uncertainty, with the Court providing no updates, and this is to just LOOK at the appeal, not make any decision. Its almost unbelievable with the supposed support for business and "green transition" that they have not had the foresight to change their "processes" to deliver outcomes to either the companies involved, or indeed the appellants.
This sort of stagnation...... running counter to the support (and pending loans) from the EU and rhetoric from Swedish gov, has obliterated shareholder value for now. Very sorry for those who have had to sell and infuriating that short term speculators or institutions now get to buy back on the way up. But.... that's life. The very minimal cap raise has kept dilution to a minimum and tells me they are not expecting much more of a wait till a decision is made. Should TLG management have had more foresight and increased the prior cap raises over the 1 dollar mark.... well yes of course. But..... Honestly, what is helping me understand EU/Scandinavia right now might not be the endless speeches and conferences on the great strides forward they want to make..... but the French Olympics! The shambles of swimming in turgid rivers, serving lettuce to athletes and sleeping on cardboard beds, and blue Smurf creatures. Ambition vs execution. For me, hold.... keep on holding.... and let's just pray for one tiny iota of common sense from this part of the world!
Expand
(20min delay)