Copydog
Nothing scares me as much as an poor operating gold mine
Look at glen eagle , monarch , navigator , Noble and even Red as examples. The first two went under bit In Navigator case they went from a 400m shares on issue to a few billion and the still need loans and are losing money. Again not suggesting this will happen to TAM but in many ways a poor operating mine can be a lot worse than no mine at all . Mobs you the general weakish sentiment of the PM sector doesn't help either
Ann: Entitlements Issue Prospectus , page-15
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