A call for proposals is not funding of proposals. The final...

A call for proposals is not funding of proposals. The final decision on KAVA 8 allocation will probably be Q2 or Q3 2022.

With that said, Talga has to have one of the best possible cases out there. And it is unclear to what level of funding may be granted.

500,000 euros (minimum amount) is peanuts. 500,000,000 might be too much, unless EIT is going to fund further mine expansions through 2030.

EIT had a budget of 2.4 billion over the 6 year period of 2014-2020, but that amount might be significantly increased in the next 5 years.

At face value, 2.4/6 is 400 million per year. 400m is not a ton, when split amongst 20 projects. However, if Talga's lets say, 200 million (some 40% of the total cost of the project 484 mil) is split over 3 years, then Talga is looking much more possible/probable, in my opinion.

My guess is that in a few days the market will like this news, but it is by no means a done deal, and there is very significant question of how much Talga can be loaned from this fund. But, this is a great development and we should all be happy that talga seems to have a strong place in the running for publicly backed financial assistance.