TLG Ann: EIB appraising up to EU300m for Vittangi Anode Project - 23rd Nov 2022, 8:21am

[annb0t]

TLG Ann: EIB appraising up to EU300m for Vittangi Anode Project
Price Sensitive: Y
Date: 23rd Nov 2022, 8:21am

>>> Read announcement: Google: TLG Market Announcements

 

[WheresTheMonkey]

OK................now what about you Mr Mitsui ?

 

[Semmel]

Nice though, i must admit, i have no idea what that is actually worth. Can someone with more experience in finance please give a judgement call? It's "up to" and it's non-binding, subject to due diligence, and quoted "under appraisal". Does anyone know what that means?

 

[WheresTheMonkey]

Nice though, i must admit, i have no idea what that is actually worth. Can someone with more experience in finance please give a judgement call? It's "up to" and it's non-binding, subject to due diligence, and quoted "under appraisal". Does anyone know what that means?

It means MT has something to talk about other than the ACC agreement at the AGM tomorrow.

But that's just me being cynical

 

[ACinEur]

Nice though, i must admit, i have no idea what that is actually worth. Can someone with more experience in finance please give a judgement call? It's "up to" and it's non-binding, subject to due diligence, and quoted "under appraisal". Does anyone know what that means?

This is fairly standard type of language for these types of agreements, IMO it is hugely positive and wouldn’t have happened if it was not expected to complete. I’ve seen similar in my professional life and each time it was a way of signalling ‘intent’ with the finer details to be worked through…a very good day for MT and Talga…

 

[Micreg]

This is fairly standard type of language for these types of agreements, IMO it is hugely positive and wouldn’t have happened if it was not expected to complete. I’ve seen similar in my professional life and each time it was a way of signalling ‘intent’ with the finer details to be worked through…a very good day for MT and Talga…

Here you go:

A project financed by EIB typically goes through seven major stages: proposal, appraisal, approval, signature, disbursement, monitoring and repayment. We also provide information about procuring works, goods and services required for projects that are financed by the EIB.

 

[Semmel]

Ok, so approval is the next step with signature being a formality. Question is then.. how difficult is the approval step once you got the appraisal?

 

[ACinEur]

Ok, so approval is the next step with signature being a formality. Question is then.. how difficult is the approval step once you got the appraisal?

 

[ACinEur]

Patience… These things take time, the contracts and legal teams will be working through the final details, some poor analyst somewhere will be slogging out the nitty gritty details, wording is being refined, multiple levels of approval are being sort…these things take time . That’s why we get announcements like today’s

 

[Semmel]

I get it that it takes time. What I am getting at is.. where is the hard part? Is the hard part behind or in front of us? I don't have a feeling of where the work is. If only 10% of applicants get to appraisal and of that 90% get to approval, it's a fucking big deal. If only 10% of appraisals get to approval, it's worth no more than a passing smile until the approval actually comes. "Up to" 300M is a fucking big chunk of money and if we even get half of that, would be fantastic ! But again, it's all in the likelihood of stuff to happen or not to happen.

 

[Coolbeans]

I get it that it takes time. What I am getting at is.. where is the hard part? Is the hard part behind or in front of us? I don't have a feeling of where the work is. If only 10% of applicants get to appraisal and of that 90% get to approval, it's a fucking big deal. If only 10% of appraisals get to approval, it's worth no more than a passing smile until the approval actually comes. "Up to" 300M is a fucking big chunk of money and if we even get half of that, would be fantastic ! But again, it's all in the likelihood of stuff to happen or not to happen.

Blimey Semmel pal, I think you are forgetting What Talga is and what location Talga is! Yes it's been a long winded story so far, but keep your eyes on the reality bud! It is time to get excited not fickle. Next few months will be fantastic imo and all the small details will be irrelevant, This announcement is enough to confirm what we know about Talga and it's beautiful grade deposit no more than 2 days train to most of Europes planned gigafactorys. This is a no brainer, done deal, in the bag, Monster.

 

[Semmel]

Coolbeans, I have no doubt that Talga is crushing it. No idea where the sentiment comes from that I am somewhat sceptical of Talga, or its importantce to Europes EV future. All I do is trying to understand the information that is given by asking questions of things I dont know. Its whats called DD on my part. If you know everything in full context, then please explain it to me. If you dont know the answer to my question, then how is your beating the drums any different from running around blindfolded? I have way too much riding on Talga to NOT investigate all available information until I have a full understanding of it.

 

[DAH]

Coolbeans, I have no doubt that Talga is crushing it. No idea where the sentiment comes from that I am somewhat sceptical of Talga, or its importantce to Europes EV future. All I do is trying to understand the information that is given by asking questions of things I dont know. Its whats called DD on my part. If you know everything in full context, then please explain it to me. If you dont know the answer to my question, then how is your beating the drums any different from running around blindfolded? I have way too much riding on Talga to NOT investigate all available information until I have a full understanding of it.

G'day Semmel, I think you'll find that the EIB undertake similar DD for funding to that of the Swedish courts re permits I.e. it's thorough, and will include assessing social and enviro aspects. No idea where they're up to in that process but given we believe they were onsite for two days they likely know enough (hence the ANN) and need to now go tick a heap of boxes. As you know, EIB are the lending arm of the EU and have a tonne of money to place in the green space. Graphite is a critical material under their act and TLG have the greenest anodes in the pipeline. I'm confident they need us much more than we need them! I'd be very surprised if this deal doesn't go through to align with permits.

 

[cosors]

It seems to me that the horses at the starting box are a bit restless with tension. The race is about to start - it's in the air. I can almost smell the charged ionised air.
Now, after more than ten years, it's finally starting. For us, it's still easy to bear the tension. Imagine how MT feels when he looks at his gigantic graphite W20 every day.)

Side note: MT is even honoured in the swedish press with his best dinosaur find ever. I'll collect some more until I pay again and then report back to you. It's not that easy because of the non-euro currency and they don't have PP either.

I can't say much more about the content of the last ann than my feeling or interpretation. Maybe I will find out more from someone who deals with the approval of public funding.
Until then, I assume that all formal submissions to this process have been fulfilled. And that is a lot of work and a big step. Maybe it is the case that we now meet all the criteria for the application process and that it is now just a matter of releasing the funding pot and distributing the money. Maybe other projects will also get money and this is not a case-by-case decision or funding. You remember that even after Musk's waiver there is now about 1.4B€ free.
Anyway, as soon as I hear anything worth mentioning I'll let you know. I can also get a description of the procedure. I suspect it won't be much different whether it's in an EU country or the EU itself, as all nations have to comply with the same regulations. But I am as much of a layman as most of us.
The bottom line for me is that MT has steered the financing on a stable path and perhaps even better than purely private enterprise. Our graphite is not only of Swedish national interest, but also of interest to the whole EU. That is why I like to read such words:


"The success of Europe’s green transition will depend on both a thriving electric vehicle industry and the successful realisation of critical battery material projects as part of a localised battery value chain.
Based entirely within the EU, Talga’s Vittangi Anode Project will be a multi-decade secure source of coated anode to the European EV industry, underpinned by Europe’s largest natural graphite resource."

 

[cosors]

"Reference: 20220643
Release date: 22 November 2022

Promoter – Financial Intermediary​

TALGA GROUP LTD

Location​

• Sweden

Description​

An integrated graphite anode project powered by renewable energy, to produce low emission intensity anodes supporting green battery manufacturing in Europe.

Objectives​

The objective of the project is to contribute to the global green transformation of transportation, the EU battery value chain and EU resource independence.

Sector(s)​

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)​

not disclosed

Total cost (Approximate amount)​

not disclosed

Environmental aspects​

The installation falls under Annex I of the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU and hence is subject to a full environmental impact assessment (EIA)*. The project requires EIAs at both the mine site and the processing plant. The permitting process is well advanced and the promoter understands the timelines associated with approval. Environmental and social aspects will be appraised in detail during due diligence. In particular, considering the presence of Sámi villages in the project area, due attention will be paid to impacts on Indigenous Peoples and how those are addressed through the EIA process and beyond.

Procurement​

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

Status​

Under appraisal - 2/11/2022

Milestone​

UNDER APPRAISAL"
https://www.eib.org/en/projects/pipelines/all/20220643
* so that would finally settle the question for us. If the court gives the green light, the money will flow. At least that's how I interpret it. By the way, the EIA procedure is the cross-border one with the Finns I think, you remember, the salmon fishers.
But the authority has already given the thumbs up. Now the matter of the mushrooms still has to be clarified.
Aphroditeola
I hope for the sake of the anti-climate-protection activists that they have actually found it in the presence of the authorities.)

 

[cosors]

Blimey Semmel pal, I think you are forgetting What Talga is and what location Talga is! Yes it's been a long winded story so far, but keep your eyes on the reality bud! It is time to get excited not fickle. Next few months will be fantastic imo and all the small details will be irrelevant, This announcement is enough to confirm what we know about Talga and it's beautiful grade deposit no more than 2 days train to most of Europes planned gigafactorys. This is a no brainer, done deal, in the bag, Monster.

"I think you are forgetting What Talga is and what location Talga is!"

Hardly any of us knows Talga as well as Semmel. And his questions are absolutely justified. I have similar questions to this. We are here together to clarify these very things.
@Semmel I will try to find out more about it and hope that our matter is not too special and deviates from the usual procedure. As mentioned, I know someone who handles requests for public funding. That said, it's a lot of work to fill all the boxes. Once the initial check is passed the case is waiting for approval. But getting this far is already a huge success. That's why: "Price Sensitive: Y"

 

[cosors]

Reddit pushed up about a week ago. That's why I became aware of a promotional video for Talga ("Talga Group: Your Next 10-Bagger?"). Only one crucial part remained completely up in the air - the financing. As if Talga had no plan here. I drew attention to the three ann.
And what happens today!?
As if called

 

[cosors]

Maybe we'll keep texting here:
https://thestockexchange.com.au/threads/financing.74574/

 

[cosors]

View attachment 22755
"Reference: 20220643
Release date: 22 November 2022

Promoter – Financial Intermediary​

TALGA GROUP LTD

Location​

• Sweden

Description​

An integrated graphite anode project powered by renewable energy, to produce low emission intensity anodes supporting green battery manufacturing in Europe.

Objectives​

The objective of the project is to contribute to the global green transformation of transportation, the EU battery value chain and EU resource independence.

Sector(s)​

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)​

not disclosed

Total cost (Approximate amount)​

not disclosed

Environmental aspects​

The installation falls under Annex I of the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU and hence is subject to a full environmental impact assessment (EIA)*. The project requires EIAs at both the mine site and the processing plant. The permitting process is well advanced and the promoter understands the timelines associated with approval. Environmental and social aspects will be appraised in detail during due diligence. In particular, considering the presence of Sámi villages in the project area, due attention will be paid to impacts on Indigenous Peoples and how those are addressed through the EIA process and beyond.

Procurement​

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

Status​

Under appraisal - 2/11/2022

Milestone​

UNDER APPRAISAL"
https://www.eib.org/en/projects/pipelines/all/20220643
* so that would finally settle the question for us. If the court gives the green light, the money will flow. At least that's how I interpret it. By the way, the EIA procedure is the cross-border one with the Finns I think, you remember, the salmon fishers.
But the authority has already given the thumbs up. Now the matter of the mushrooms still has to be clarified.
Aphroditeola
I hope for the sake of the anti-climate-protection activists that they have actually found it in the presence of the authorities.)

Check out the difference on the EIB's page! Compare that with above!

"Reference: 20220643
Release date: 22 November 2022

Promoter – Financial Intermediary​

TALGA GROUP LTD

Location​

• Sweden

Description​

The loan will finance an integrated graphite anode project powered by renewable energy, to produce low emission intensity anodes supporting green battery manufacturing in Europe.

Objectives​

The objective of the project is to contribute to the global green transformation of transportation, the EU battery value chain and EU resource independence.

Sector(s)​

• Industry - Manufacturing

Environmental aspects​

The installation falls under Annex I of the environmental impact assessment (EIA) directive 2014/52/EU amending the EIA Directive 2011/92/EU and hence is subject to a full EIA. The project requires EIAs at both the mine site and the processing plant. The permitting process is well advanced and the promoter understands the timelines associated with approval. Environmental and social aspects will be appraised in detail during due diligence. In particular, considering the presence of Sámi villages in the project area, due attention will be paid to impacts on Indigenous Peoples and how those are addressed through the EIA process and beyond.

Procurement​

The promoter is a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to EU public procurement legislation, then the European Commission will be duly informed and the promoter will be requested to apply those rules.

Status​

Under appraisal - 2/11/2022

Milestone"​

https://www.eib.org/en/projects/pipelines/all/20220643


=>The loan will finance an integrated graphite anode project<=

Can this be read differently than I do

 

[Semmel]

No, this is normal language as far as I have seen towards what the loan will be used for, if granted. The "if granted" is omitted as it is evident from the application that it is an intention. The status clearly states:

"Status: Under appraisal - 2/11/2022"