burnakura sold, page-13

Bargold said....

Also you say "normally this kind of announcement would have seen a lift in price"

For the life of me I cannot see why you would think that. Gold price is close to all time highs and TTR is giving away its 50% of a gold mine producing 36000oz pa for $3m+
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I suppose you are correct - the word "normal" probably doesn't apply.

To put my thoughts in context, for the little they may be worth....

Tectonic got out of a bad marriage with the sale, and it allows them to focus on the much larger and more economic Phillips River resource.

Tectonic was in a JV Partnership with a company who decided that they wanted to be a pure play uranium miner. Extract would not invest any further capital into BJV, and without the investment it would continue to be marginal or loss making.
(JV cash costs of production were around $700 per ounce). It was dragging TTR down, to the point of auditors questioning the "Going Concern".

The announcement is positive in my opinion, as it releases some cash which will help finance a bit of drilling (and hopefully bring some good news) before the capital raising.

Not sure whether you've ever been in a bad marriage, but you sure feel good when it's behind you!!