ando The current share price is simply a balance of fear and probability. It does not represent anything within the value of the company or the performance of management.
When we hit 20c a year ago it was because of a sudden hope for copper which was soon lost. What we see now is the knowledge that everything depends on getting finance, and the general view seems to be that the chances are slim - certainly not high enough to buy in big.
There are three possible forward scenarios: - we get finance (possibly only at the half way option) in which case we will soon be heading towards a dollar - we cannot get finance in which case we have one of: a) we fold and lose pretty well everything, or b) we go into management only mode and hope for a turnaround in bank sentiment towards funding.
There is little doubt we have a valuable asset but it is useless to us without the means of developing it. We need to convince the banks that vanadium has a bright future and that is where our management needs to be very careful. We need a good honest case put based on the real (rather than hyped up) values emerging from the DFS.
TNG Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
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