I am definitely trying to look on the bright side in this dbd,...

I am definitely trying to look on the bright side in this dbd, and I trust RCF acumen which helps a lot.
(Didn’t it buy into AVL around the 3 - 4c level?)

… Also with most of my funds invested in NRW, I was sorry to see it lose Graham Arvidson from Primero.
(NB Although ‘most of my funds’ are NOT invested in TMT, over time I’ve collected a largish packet which has created an abiding interest in seeing it become profitable.)

I think you just raised an interesting (key?) point in the interesting timing of this:

Why would TMT want to get ‘off the hook’ in regards the integration study with full bankable financial model that’s been in prep for 18 months?
How much have costs risen during those 18 months?
What would have happened to the price here if the study did not show what investors wanted to see?

— Almost exactly a year ago (17/09/22) Tim Treadgold’s story in the Eureka Report noted Morgan Stanley had analysed key metal costs were rising at a rate of between 10 to 30% a year [ref].​

— And I have tried not to pay too much attention to the multiple posts around here on the terrible current price of vanadium​

Maybe it’s not all bad?
Still 15 AVL shares or even a baker’s dozen would be better than just 12.

cheers