I think half the problem is that the other projects appear to...

I think half the problem is that the other projects appear to show more progress more rapidly than TNG. Either their plans aren't as complex, they're not as exposed to external factors (e.g. they're not in the NT), or they've got more capability in managing the parts of their puzzles.

Which is related to the other half of the puzzle - all the bits of the TNG puzzle that have to come together before any money gets made. Key challenges;
- despite all the hoo-hah around the CLC 'agreement', we still don't have the d%^ned thing signed, so I discount this announcement personally as valueless as I've learned to do with TNG nowadays, especially pre-AGM. Get it signed, then I'll start believing that we actually have an agreement
- the Ti offtake. No tangible progress there. People can say all they want about a binding agreement being tuned behind the scenes based on the Tivan process enhancements, but the whiff factor around the timing of the 'with the lawyers' statement last year has left me absolutely cold on that front. Still nothing back from anyone after my letter to ASIC about that. Vanadium is hot, but the Ti is what matters to get Tivan (and TNG) financed
- financing the capex. May as well ignore that until the Ti offtake is signed
- the NT Govt and its (in my opinion) intransigence We've had enough trouble with an EIS for Mt Peake. I'm expecting the refinery to be another mongrel. The NT Govt hasn't demonstrated (that I can see) any capability to help get something over the line. As for getting cash out of them from the slush fund to help the project along? Yeah, right