I'd just trawled  through announcements and presentation...

I'd just trawled  through announcements and presentation material from AGM presentation 2016 to the present. I think im right in saying that the just published upcoming  "London 121" presentation is the first presentation that doesn't devote a segment to finance, it's potential breakdown and source.

Dont know if thats significant but in my day job i look for changes in material and whats not there or left out is often significant.

The most recent Quarterly Activities Report  has been worth a re read. Maybe I missed its significance when announced but it covers off MMP (briefly), and Refinery EIS Progress.

Importantly when reviewing "Project  Planning and Development"  against the recent SMS announcement "to provide FEED for entire project together with a fixed price EPC proposal and Guarantees" it struck me that rather than SMS starting the whole process that has been worked through by Snowdens (mine modelling) Como Engineering (Concentrator and pre delivery components)  and obviously the work all ready undertaken by SMS on the TIVAN plant itself, they will be double checking and quantity surveying to give that German assurance under the the EPC "Guarantee" , guaranteeing price, product quality, production rate and quantity.

II'm thinking that so much of this work is completed  but for SMS to provide that bankable guarantee that will run alongside its TIVAN processing guarantee they need to overview everything just like in any other third party tender process that would otherwise take place. Clearly i missed this as my enitial reaction was that it was re making the wheel so to speak. 

Anyway maybe we are just a bit further ahead than it feels. 

OOh yes MMP completion vaguely stated as early 2019 and Animal Plant and Minerals "AMP" the newishly appointed enviro consultants were concluding their seasonal biological survey at the Darwin TIVAN Plant site to enable completion of the Draft EIS. In the update earlier this year PB announced that they were to manage the Plant EIS following the conclusion of their work at the Mine site and would conclude over the next few months. 

On the face of it the big plan is finally coming together and just maybe the pointy end is in site. So why then the dump in SP?  The titanium and Vandium markets are hot. Every indicator points to TNG being the next  vanadium project into production. Is it the cry wolf syndrome making the market weary of further delays or maybe TNG signalling its true value by gifting VINSOM 10% of the company? Or is it that the likely financial matrix will dilute the shares to the value of toilet paper now that TNG has on issue over 1 bill shares.