Don't forget that SMS Seimag have given the tick of approval to...

Don't forget that SMS Seimag have given the tick of approval to TIVAN, and want to be part of the commercial build. Yes there is still risk, but they have proven it as much as they can and are obviously confident that it is commercially viable.

Also, TNG hit $1, or $200M MC based on the (correct me if I am wrong...) Manbarrum discovery, which it still owns in addition to TIVAN and Mt Peak. $500M would be gettable for someone who wanted to offload the individual assets. Hence why moves to protect against takeover at the AGM.

The risks of flipping an asset are very different to the risks of owning a mining operation.