Sometimes it's good not to over complicate things. I believe...

Sometimes it's good not to over complicate things. I believe this comparison I posted some time ago illustrates your point clearly.

The SS costings were based on a plant around twice the size proposed by our peers (a fact this is frequently overlooked and the cause of much conjecture), so when compared in relatively terms the SS results do hint at the potential here. TNG being a huge validator, pointing to demand for not just V but for titanium and pig iron by-products.

Overall it was that lack of details provided in the SS that caused the reaction. It left room for too many assumptions and the market does not like uncertainty. Hence the sell down.

Early met results are looking positive, with potential for huge cost savings on the capital side. This should have a profound impact on the chart above. TB just needs to publish this PFS so the numbers can speak for themselves, to put an end to the speculation once and for all.