I don't agree with the decision to sell, but can clearly...

I don't agree with the decision to sell, but can clearly sympathise with the Tesseklee's sentiments.
Without a doubt we have an insider (Burton who was employed by TSV until the recent demerger) dumping into the liquidity generated by the recent announcements.
This same director and the rest of management pursued this demerger (notwithstanding the business case put forward in official announcement) in part to ring fence the pile of cash held by the US subsidiary into a new, stand alone entity so it was available for their wages going forward (should Warro not work out). And Burton remains Chairman of that new entity, shares of which none of us can sell (unless we negotiate a private sale). After recieving this new position (never really open to competition), he proceeds to sell his shares in TSV Australia. Whilst not illegal, this is self serving crap of the highest order, both by Burton and the rest of management.
So, I don't think its unreasonable for people to lose faith in management, and - as a result - question the veracity of the announcements they write. The current share price malaise has much more to do with management than it does the economics of the project itself.
Normally, I would sell on the basis of management's behaviour alone, but given the actual merits of the project, and the fact that Alcoa has stumped up so much money based on expert opinion, and the drills themselves have produced good results thus far, I will continue to hold.