Ann: Corporate Presentation March 2021, page-10

not sure why I got moderated and why hotcopper can't be used for peer comparisons

this is a great resource no doubt and if vanadium gets hyped the tide will lift all ships and this will multi bag I'm sure .. but imo you need to account for at least double the shares on issue to have a complete DFS and then the time factor with 2023 being a long way off

TMT funded to FID within 9 months, low capex startup and already has a few funding path options (NAIF, sinosteel MOU) and being in WA is the big bonus. its a lot more derisked then VR8 who have a lot of Dilution to come before you can compare directly, a PFS and then DFS cost TMT about 15 million for reference not an easy task with VR8 current market cap . this will have its day though I just think better value in its peer for now