Tmt has always had a tightly held register, prices move on minimal volume on the back or retail speculation.
As far as EPA approvals go, given the number of applications in the system on the back of an unprecedented flurry of aspiring developers across transition minerals it should come at no surprise that things will take longer than expected. It's similar with assay results, construction timelines etc etc. The labour shortage is here to stay unfortunately at least until things ease in the space or capacity is expanded to cope with rapidly growing demand. Most likely the former, noone really likes growing support teams for mining services given the inherent cyclicality of the sector.
The company is ticking boxes with minimal fanfare.
Re financing, eca (jap, korean, european) + government agencies naif / efa funding will be key, to cornerstone the funding equation. Commercial lenders would be much more reserved given the niche nature of the commodity. It bears a lot of similarities to lithium ~4 or 5 years ago, financiers generally gave it a wide berth. Things have changed.
Finally the market needs to gain traction, v-redox applications need to roll out to really cement the story. Until that happens it will be a slow burn.
Aimo etc etc
TMT Price at posting:
31.0¢ Sentiment: None Disclosure: Held
