Lucky Swede
The progression of the development schedule in the Pre Feasibility Study has been delayed by the finalisation of the DFS and associated finance. It is nearly a full two quarters behind on what is only a very minor Capex for an initial stage.
This is just a DFS .... The company still has to design, engineer and build mining and refinery facilities before it can sell anodes on commerical quantities. As you note, this has not started yet.These stages will be also be reliant on other authorities. Makes you wonder what the real timeframe of all this will be and how the PFS development schedule can possibly be accurate.
About a month ago we had the big spruik annoucement on all their partnerships and how much more demand there was going to be for the Talnode-C. This was followed by a webinar with Benchmark, which was another promotion and you got the feeling some BIG announcemensts were about to made.
Since then, we've been given a quarterly report (with very little detail) and a board member who happens to be a managing partner of our 4th biggest shareholder, has resigned from the board.
The SP has also retaced around 20%, although seelms to be holding this time (hopefully).
Further, the company has not released a single update on their graphene developments, other then sending a few coated ships out into the sea many months back. Now, I don't see this being a short term company maker for TLG (or anyone for that matter), but given the cash burn on staff and 5+ years of R&D in this area, a decent update wouldn't go astray.
On the surface it looks a company of great potential and is an easy story to sell. But the deals in the EV sectors are starting to flow and as you note, construction and REAL projects are moving fast, so when will TLG join the party?
Is the wait for mining approval for their 2nd stage going to be a deal breaker for battery manufacturers and OEM's who are trying to lock in their supply chain?
Are the metrics not holding up, requiring re-working of the DFS and ongoing delays?
On a positive, there is always the possibility that the silence is due to something massive developing in the background and the company no longer sees the need to report on it's various activities in any detail.
Long term holder (since 2014) and will continue to monitor new, or lack thereof, in the short term.
IMO, DYOR.
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