Ann: Locking Down Infrastructure to Support Delivery of the MTMP, page-57

Without going into extreme details, and also not much point either way until TMT actually release the proper financial model,,, it can be put pretty simply why TMT and AVL's most recent figures were pretty comparable in spite of all the said positives of TMT vs neighbour.

a) AVL massaged their numbers pretty radically to bring OPEX down - See (unrealistically) high titanium credit and (unrealistically) low transport costs (re: deisel price used).

b) TMT released preliminary numbers which they have stated were on the conservative side and I didn't pick up anything to the contrary. Figures also didn't include additional resource from Southern Block.
Final metrics "expected" to be much improved,,, but I won't argue for that as who honestly knows until we actually see it.