Ann: Transaction Update, page-24

It matters not a jot what the quality of the ore body is on either side of the fence, or how it might get processed, or what the NPV might be, or the Capex. What matters now is the size of the payout to TMT shareholders, and whether TMT management is acting in our best interests in supporting a merger deal that will see many retail holders suffering significant financial loss. If AVL want the assets, they need to do a cap raise, and buy them for cash.

All IMHO, DYOR