How stupid are some people? This is the stock market and its a...

How stupid are some people? This is the stock market and its a speculative stock. Yes, there are things that happen that look like someone had advanced knowledge but it happens all the bloody time across almost any stock. For all we know there were T+2 traders who’d bought the week before and hoped the deal was signed and announced Monday. It’s not like there was some huge volume of shares traded. Long story short, if you cant deal with the ups and down of the share market then perhaps it ain’t for you.

To suggest Mark is insider trading is absolutely ridiculous. Anyone with half a brain could work that out, why the hell would Mark Thompson risk everything he has worked so hard to build for a little bit of extra cash for his mates on a trade. Mark has bigger shit to be focusing on.

Talga are a speculative company that is trying to commercialise the first anode refinery in Europe, and is doing what I don’t believe any others have done yet in establishing a vertically integrated mine to battery product ex China. What Talga are doing is completely unique…and there will be speed bumps along the way but you can’t take away from how far they have come. They are literally at the forefront of a new industry in Europe and the story just continues to get better and better, day after day.

Now in terms of missed deadlines, the DFS miss was frustrating, but around the same time it was due to be released, the County Administrative board asked Talga to clarify the groundwater concerns. With COVID there were delays, but they did deliver the DFS and it was nothing short of spectacular.

People also complain about LKAB pulling out and Mitsui extending the MoU but the landscape has changed considerably since those first MoUs were signed. Talga know they will likely have access to a lot of cheap funding with all the investment banks currently circling to be involved, including the $300m from the EIB. Don’t give this thing away to parties when we don’t need to. In fact, I take it as a positive that nothing was agreed because Talga’s position has changed considerably.

In regards to the MB/Stellantis offtake, we know they have signed a non binding MoU with intentions to sign a binding offtake - this is off the back of years of qualification between the companies! People need to realise it has taken them years to get this point, MB/Stellantis didn’t just walk up and say they want supply. They know exactly what they want, how much of it and what it’s for. Now they are at the pointy end and are about to execute the agreement. Now clearly people don’t like the fact a deal wasn’t done by 30 November but that’s business. In my experience, having negotiated many many sales contracts, these “deadlines” are always put in place and are rarely ever hit. The y are really nothing more than a mutually agreed goal the companies are working toward to execute a contract. The missed date is not a reflection of Mark, it’s just these things take time, especially when the lawyers get involved .

The most important thing is to actually look at the words of the announcement. They are ”now at advanced stages of negotiations and completion of legally binding documentation.” This reads like the deal is done and the lawyers are just going back and forth on the terms of the contract. I’m happy with that! Better than the alternative which was an extended MoU. The fact it wasn’t extended alls makes me more confident it’s literally any day now.

Within the next 3-6 months we should have
- signed offtake (potentially with another one for remaining supply. Surely that’s going to be Northvolt/VW/Volvo.
- all funding secured
- permits granted (we’ve just seen two permit decisions) approved and even if it is appealed It doesn’t affect Talga and they can continue on with the project.

It really doesn’t get much better but you can’t please everyone or people who clearly have no idea what it takes in business to get this type of thing done. Mark has done nothing short of an exceptional job to beg this far. Bravo mate!