I just had the same issue as you and I could not figure it out. I hope you've already figured it out since its been almost a year, but I'm putting this here for people that come across it in the way I did. The issue is that your track folder, Thunder Valley, has a space in it. I had the same issue because the track I'm making is a local one called MX 2. I changed the folder name to be mx2 instead and then ran everything again and it worked flawlessly.

