TNG Change of Management | Update 25, page-121

So, i've read some really excellent analysis done by some notables re projected big holder votes re our judgement day.

I've put myself in the corporate leadership, strategy & finance wheelhouse of our few influential major SH, & I have raised a number of questions in relation to the current situation:

1. What are my strategic imperatives for being invested in TNG?
2. Is TNG delivering on my investment imperatives?
3. Should I employ my investment capital elsewhere?
4. Are there any financial risks are associated with my ongoing TNG investment?
5. If I divest, can I still secure this critical minerals tranche ex Australia? If yes, what cost & risk?
6. What is my timeline criticality for TNG end product feed to my business?
7. How does the geopolitical environment affect my investments in the next 5-10 years?

So, pretty fundamental Board stuff really. It's really the macro v the micro.

In the current move for change, many want to focus on PB & the current Board...that's the micro for the big players.

Frankly, in the analysis, Individuals are never bigger that Companies. The King is dead ...long live the King

Their macro is really simple...ROI. Nothing else really matters because we're talking about the bottom line (governance aside) .

So, how will the big guys vote (or abstain) in the 249D?...it's actually critical in our current situation when you look at the numbers (as highlighted in previous posts).

In my analysis, we're probably looking at voting abstentions from the big guys. How do I get to this conclusion... pretty simple really. The big players will only be guided by investment outcomes. They will vote accordingly (the macro).

Management personalities are transient (that's the micro). You invest in the entity not the leader of the day. Entities are bigger than individuals.

Clearly, the whole 249D movement could swing on 1 big player doing something unexpected?

I hope I'm not wrong in my analysis?

My view. Follow the money. Current management looks like a micro play in a macro game, IMO.

But, I'm just an old corporate guy. What would I know anyway.

Jvest