TLG - Talga Group

[Dona Ferentes]

surprisingly...
- got it away, with extra $$s
- trading above, now 44c

Prospectus Offer closed on Friday 23 August 2024 with demand substantially surpassing the targeted A$5.0 million. In light of the strong shareholder support and to minimise the dilution of shareholders who have been steadfast supporters of the Company, the Board has exercised its discretion under the Prospectus Offer to increase the offer size to A$9.0 million, and to scale back applications in excess of this amount.

The Offer complements the Company’s recent successful institutional placement which raised A$9.5 million, with combined proceeds totalling A$18.5 million received post 30 June 2024. The 30 June 2024 cash balance was A$14.1 million (ASX:TLG 29 July 2024).

Proceeds from the Prospectus Offer and placement will be used to fund pre-FID Vittangi Anode Project development, progression of expansion studies, progression of the SQM lithium JV and general working capital. Additional funds from the oversubscribed Prospectus Offer will be allocated pro-rata across these determined use of proceeds.

 

[galumay]

Incredible. Oh well, pull up a chair and watch them burn the capital.

 

[basilio]

Saw this post on another forum regarding provision of housing in Northern Sweden. Hopefully all adds to obtaining the local support for Vittangi project

"Mats Taaveniku says they would be more positive towards the mine if the company could give something back to the municipality, aside from job opportunities and a mine in Vittangi. For example, if they built housing or paid for municipal services.– Yes, then we would of course reconsider the decision unless the government makes a decision first."

There's now no need for this, as the municipality will get their housing.


From Andreas Carlson:
18/09/2024

"Today I present an important budget news to facilitate housing construction in northern Sweden. SEK 1.5 billion until 2028 to support housing construction in the north. The aim is to facilitate housing construction and support the industrial transition. In the budget bill, the government proposes that SEK 140 million be allocated to housing projects in northern Sweden as early as 2025 and the sum increases to a total of SEK 1.53 billion for the years 2025-2028. The funds will act as a catalyst for housing construction in the municipalities concerned. The proposal is based on the Government's coordinator Peter Larsson's proposal for housing construction in northern Sweden.

The Government will return to the exact formulation of the proposal. The appropriation may be used for expenses for loans for housing investments in certain municipalities and the structure we are looking at for lending is a top-up loan function.

The second part of the proposal presented today is about a reduction in credit guarantee fees, which applies to all establishment and transition municipalities regardless of where in Sweden they are located. The funds available in the existing system of credit guarantees are currently not being fully utilised. This means that some of the money is not used, while the need for housing in general is affected. The purpose of the reduction in credit guarantee fees is to increase the use of government credit guarantees for housing construction.

Business establishments and expansions in northern Sweden contribute to our nation being a world leader in innovation and the green transition. At the same time, it poses great challenges in arranging housing for all new residents. Housing construction is a key to being able to invest in the green transition, in the future, in our home Sweden. Today, the government is moving forward with proposals to allow more housing to be built in the north."

TLG Discussion 2022

Sigh.. and now TLG gets removed from ASX300 as well. Hope it's not too much of a down trend because of this. Damn you SC! All this is totally unnecessary and avoidable! Perhaps this explains why the shorts went down before. It is not just the SC. It is only representative. The SC only reacts...

thestockexchange.com.au

 

[rcw1]

Good morning

Some movement at the station today (26/09/24) ...
Daily Chart

Not holding

Kind regards
rcw1