Fair point Gvan.Have the permitting delays held us up?...

Fair point Gvan.

Have the permitting delays held us up? undoubtedly. However, I think we should keep in mind that the battery anode refinery in lulea is for the full 104 ktpa anode, in terms of machinery/volume capacity. I may be mistaken, but I recall Talga having a modular design to the refinery. Namely, that one part of the refinery can be built before the entirety, to give say 33% capacity sooner rather than later.

The full capacity by 2026 refinery would still be "on target". Though, I think Talga has been waiting to submit some of the paperwork for the environmental permit of the Niska expansion so a 2-year turnaround on that is probably a realistic scenario, after which the underground mine would take more time to build.

I do agree with the perspective of delay in general. to get to 100ktpa at present rate, I would expect 2028. I'd love to be surprised however.