I think the first news they could have in store would be the...

I think the first news they could have in store would be the combined ore reserves.
The most notable of that would be both companies having drilled out their respective parts of the southern block in 2022/2023, argueably the highest economical section of the entire orebody, but neither company actually released a reserve update for this drilling as yet (to my knowledge).

TMT also did considerable work putting together the metrics for what type of ilmenite or fe ti recoveries are possible from this section, so it's feasible they can fairly easily apply the methodology to the latest drill results/updated combined reserves, and throw at us pretty quickly an estimate of how many years + yearly production for an ilmenite byproduct.

This plugged into any 'first 10 years' of production metrics is going to have a very favourable impact, so it's low hanging fruit for an SP bump.

But even if they just provide an updated reserve with the contained quantities with no economic estimates, it's not really hard for anyone to plug the increases into TMT's DFS and see how much improvement can come from it.

I know these boards have inherited a few holders who can make light work of any new figures they release to show how it impacts the project. (favorably in all likelihood)

Let's hope it's not a long wait for them to start feeding us the last 12 Months of work.