I'm in your corner Morry. In my view, no buyer could have...

I'm in your corner Morry.

In my view, no buyer could have acquire TNG at a large discount in the last number of years for the below reasons:

1. The risk/return profile wouldn’t have stacked up over the last number of years for a potential buyer. The only de-risked event of the last number of years is the EIS at mine site. Items not de-risked = FEED/EPC/Guarantees, Darwin EIS and Darwin land....they are all company making events and too risky to acquire pre.
2. Any purchasing on-market by a potential buyer would have been driven the price up to much higher levels than $250m market cap. I reckon someone taking 10% of the company would have had to bid up to those levels. The risk on buying on-market is you get caught in no mans land between control at 50.1% and 90% compulsory acquisition.
3. Any off market takeover (ie. Via Scheme) wouldn’t have been considered by the board.

On the TIVAN business model.....i think its closer than we are giving credit.

https://www.energy-storage.news/new...s&utm_medium=rss&utm_campaign=general

In great news also vanadium pentoxide 98.5% pricing up to $8/lb (USD) which is $10/lb for TNG's 99.6% premium product.