road to DFS, page-36

I think most of the high grade magnetite type of vanadium mine contains very high level of Fe2O3 or Fe3O4. Anyway I don't want to discuss these two at the moment.
AVL sp is only influenced by the option price. The sp will go even higher after the option maturity with better cash position. So why investor who sold AVL do not buy TMT at the moment? TMT have similar mine as AVL but much more cheaper. TMT have very good financial position and low number of floating shares.