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vermkart

354 Posts.

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13/06/18

18:33

Post #: 33689383
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Originally posted by AAbatteryboy ↑

Maybe I'm just being optimistic, but I think the PFS will put a rocket up the SP.

IMO the market is currently over-valuing the size of the resource and under-valuing the grade. Global consumption of V is forecast to be 131kT by 2025 (albeit, excluding VRBs) and TMT has a large enough resource to supply 20% of that demand for the next 36 years. This doesn't even account for the other high grade V plays coming onto the market over the next 3-5 years.

People need to see the capex requirements for a high grade operation to truly understand why grade is so important. Correct me if I'm wrong, but the only V play on the ASX which has provided a capex estimate is TNG and they are $853M for Stage 1 which is only 9ktpa of V??? I expect TMT to be 1/3 of that based on Ian's previous commentary so it shouldn't take long before people see the value.

I also believe that the companies with smaller capex hold a distinct advantage because they have a better chance of being first to production which enables them to control the market and secure other high grade assets while the low grade coys are trying to secure finance.

As I said, I'm probably just optimistic and/or completely delusional

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I agree the SP should increase quite substantially with the PFS, but I probably expect the actual major re-rate to occur only after binding offtake. Having said that, it might be different for TMT considering how ridiculously undervalued it is at the moment.

Speaking about offtake... anyone has any view/info on how close we are to one??

TMT Price at posting: 45.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ann: Trading Halt, page-20

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