Definitely agree with you.Even if one company simply ceased to...

Definitely agree with you.
Even if one company simply ceased to exist today, I think funding is more likely with one company on this ore body.

There are a few dot points which are good reasons for these companies to merge.

The timing, the commitment of each company to completely different processing methods 600kms apart, and the absolutely black hole of information regarding what the plan looks like post merger is why no one seems to be genuinally excited for this merger.

They have honestly made a meal of this, did not read the room at all or would know there is no love and very critical opinions of each other.
It's obvious they thought they only needed the board and a few of the top 20 to say yes and they could push it through without explaining anything further, but that is clearly not the case.
And if they do need to increase their offer, they'll likely end up with half the AVL shareholder base submitting letters voicing their unhappiness.

They could have solved a lot of this by providing clarity on how they plan to bring two totally different plans together. We shouldn't need an independent report to guess RCF's plans, they could have spelled it all out for us themselves.

Instead they have let both managent teams continue to spruik their own resource and plan, which currently don't fit together at all, but 'just trust us, merging will be best for everyone'.
In fact as someone pointed out from RCF speaking to the media, they couldn't even say that.
They have said merging will deliver "best outcome for the project", "AN outcome for shareholders".

They only have themselves to blame... As much as they might think TMT holders are misguided for not seeing it their way.