a reason economics may be enhanced by merging the two is...

a reason economics may be enhanced by merging the two is increasing throughput, the capex required to increase size of plant isn't necessarily going to be proportional to output. a bigger cmb plant and kiln might only moderately increase capex but significantly increase v205 units produced to offset the additional capital and will lower operating costs. as a single operation production volumes had to be considered incase competitors got up and running at the same time. now we are one we can go potentially go harder.
imo no point joining two 12,000 tonne operations and sticking to the original output plans. no point in having a 50 year minelife. still mine TMTs ore first but in half the time. 6-12 month delay in studies don't matter to me that much. V market isn't really screaming for a new mine right now. imo will be a different story come 2025/2026 I think >18000 tonnes has to be goal per year.
in my opinion both are stronger as one although Tmt shareholders got the rough end of the deal for sure in my opinion! imo we paid the price for Ian playing the humble game and being the quiet achiever.
@db25 as much as I disliked AVL under Vince i do appreciate they are always the sentiment gauge for vanadium on the ASX. happy to have the I'll informed herd money on my side for once. no doubt if vanadium flow batteries come mainstream money will pile in here! would even go out on a limb and say money will pile in even with crap economics! (seen it with AVL many times it defies logic)

come on @db25 cheer up, new management can work wonders you should know! maybe we should chase big Ange to run the show