Hawks,MT did not say financing in the next quarter. He said...

Hawks,

MT did not say financing in the next quarter. He said everything should align with the permit, which is currently forecast for February 2023. I will add that from my perspective, it may be delayed once more, as it has been before. The potential delay is me hoping for the best, but planning for the worst. It reflects a realism that mine permitting takes time. MT has not said it, but we have been linked the Norrbotten CAB decision, and in it there are certainly things that Talga has to clarify prior to the permit proceeding. Primarily of which is that the waste water needs to be treated, that treated water runs into natura2000 waterways, and the CAB was not yet convinced that the treatment plan was satisfactory. They detailed specific ions and metals that they want measured. Talga's original plan, which we also have, indicates that MT considered most but potentially not all of the conditions the CAB wanted. Talga first asked for a delay on the treatment plan, which the CAB denied. So now by February, my understanding is that Talga needs to provide Data and a management plan for the CAB's specific ion and metal concerns to the nearby lake which is not itself natura2000 but which feeds into natura2000 waterways.

My own expectation is that Mitsui will sign another extension, and Mitsui is agreed to project equity rather than Talga equity. MT did also say that if the market has a high value of TLG he would be interested in another share offering as well, so make no mistake, MT does not like dilution but he will do it if the market conditions are right. This indicates that sometime in the next 5 years he foresees it useful to have a pile of cash extraneous to any funding he is going to get from the EU/Sweden/Else.

MT did say that he expects to have a purchase agreement wrapped up inside 12 months, which I take to be very bullish. MT believes that he can wrangle the permitting "on time" aka February 2023. It will be extremely impressive to me if that occurs. My own expectation is that the Tesla model car he keeps flourishing is the most blatant signal we can be given by MT without expressly saying anything.

I am happy to admit that I may be entirely mistaken, and mitsui signs on. It would be a break from their previous behavior, but it is possible.

This forecast of mine is not the rosiest one and it is not perhaps what everyone else on this board wants to see, but it nevertheless leads to the promised land.