thr vs vml, page-6

One's a Definitive Feasibility study, the other is a Bankable Feasibility Study.

Just a guess because I am no expert on DFS, but I'd say that DFS maybe is more concerned about the methods of mining and best practises, and less on the funding part of it.

THR have reported that a DFS is due, not a BFS, so unsure of the total significance. One thing I do know is they will be mining in the future (next year if all goes well), and $30mill marketcap is dirt cheap for a miner, who also happens to hold some advanced-explored Uranium ground in the NT.