whats missing

Over the last couple of days my portfolio of mainly speculative small cap miners has taken a beating.
No small part of this is TGS and I have tried to look at TGS and see what I am missing.I have failed.Nonetheless the price can barely match yesterdays miserable effort.

SENTIMENT:
The sentiment in the States seems very posotive and in fact the Dow is at its highest for two years.
Europe is a little jittery still but getting better not worse.
Emerging and BRICS-going gangbusters with an energy that Europe and the States can only dream of.
Specifically China worlds biggest copper consumer.Yes there is concern about increased interest rates but hey that's because growth is so phenomenal.Its not that the engine has no power but that the foot might get a bit heavier on the break and you can take the foot off the break at anytime.
Globally respected economists are talking about that rare event the supercycle where all the worlds economies expand simultaneously.

FUNDAMENTALS:
Copperprice
Never been better in USD and pretty good in AUD but forecasters seem unanimous that it is going get better.
Emerging economies are increasing consumption and Europe and US can only improve so the worry has been China interest rates.
Private consumption increase in China will be funded by savings of which there are plenty.Unlike the west this will minimise impact of an interest rate increase.
Secondly the power grid upgrade scheduled for this year will put a huge boost on public consumption.
Conversely supply in the short term seems very inelastic.

Production Although the company is economic with its updates there is no indication of problems or Gremlins in production and we get closer and more certain daily.

Bluesky Is there by the bucketful . Processing cobalt is an obvious one. Getting the metallurgy right seems inevitable.In fact wouldn't surprise me if they haven't done so already but just failed to inform us.
Drilling prospects on both Lupoto and Kipoi are4 enormous and with easing of financial restraints we can only expect a hastening in the unlocking of all this potential.
Still potential bluesky on a merger or T/O offer as well.


RISKS :Political has always been there and is well priced in.
Expediting risk seem to decrease with every step closer.

Sooo.....
Could someone please tell me whats missing from my understanding of this?