Thanks for your input WoodySpoon,
My feeling is that this project is definitely not de-risked enough yet for a mining conglomerate to even consider acquiring.
However, I do think that the FEED and final capex, with performance guarantee from SMS, and refinery EIS will make it so.
I'm still not sure (absolutely no idea) how long these will take, but when they happen I think Mt Peake will be worth at least ~$500m to a major miner.
I agree TIVAN is a far away upside. But based on what I've heard, I don't think it will take 40,000 years for SMS to see their first order for a TIVAN retrofit. Still, Mt Peake stand-alone is enough to make TNG a buy right now - even if management do take another 2 or 3 years to get their FID.
I hated on the update earlier this week, and I do get frustrated with fluffy comms and blurred timelines, but when you step back, it's a sight to behold.
