TLG - Media, page-15333

It's strange to read your statement. You are suggesting that all that is needed is a final decision by the Supreme Court and then everything will go its way like a game of dominoes? Even if we get the final approval for the anode factory now, the growing opposition from residents and politicians to the mines themselves will not disappear without further ado. I wish you were right, of course and there would really be 'blue skies ahead', but it's much more likely that - even if the government intervenes and orders approval - there will still be huge problems. And if this is already the case with relatively low tons of graphite mining, then you can quickly abandon your pipe dreams of a future 5-10 times higher scale of operation through the Niska expansion. I really have to shake my head when I think about the lengthy approval processes of recent years and then people assume that this will magically change in the future thanks to the CRMA or other bold announcements by the various governments.

What I find increasingly frustrating is the fact that we have been employing more than 35 people since 2019 to develop Talga in such a way that one day we might actually achieve significant sales and grow into the current company valuation. And month after month and year after year, you realize that these ambitions are being delayed further and more capital increases are needed to keep the business going. Mark gives the impression with every interview that this is making our situation better rather than worse, that he has never been more confident and that he doesn't understand why our valuation isn't in much higher territory. Then perhaps it would be time to find ways to generate income that at least cover the running costs and prevent future capital increases, despite the delays caused by external factors. If we really are such an outstanding specialist in anodes and advanced materials, then he must also find ways to monetize this expertise without graphite from his own sources. Leading Edge Materials is another company from Sweden that has had a fully licensed mine for years, the Woxna graphite mine less than 800 km from Lulea, and could have used the last few years to diversify and convert graphite from third-party partners into anode material. The fact that we haven't gone in this dirrection or maybe havent even considered this sometimes makes me doubt.