Bargold - explain why they are "out of their depth". Go through each Board members and the small management team and tell me which ones lack experience or ability.
How would you handle the Phillips River Project at this time? Where would you raise extra funds or would you put the project on the market ( a real good time to seek a buyer or merger partner)? Would you burn the crucial working capital to rush to finish the BFS?
Even established well credentialled producers are deferring or scaling back projects at the moment to conserve capital for better times. It is a very difficult time for all Junior Mining Companies trying to advance projects. Limited exploration/definition is about all most juniors can afford at the moment.
Conserving Capital and staying afloat is the name of the game!!!!
TTR have really only made one bad decision in the time I've been on board since early 2000s. They Joint Ventured with Extract at Burnakura. As managers of the project they actually did a great job on a very limited budget. Unfortunately they ran out of working capital after Extract decided to follow their Uranium dreams in Namibia and left TTR alone with the baby. If the JV could have funded improvements to the processing plant they could have got costs down to levels where they would have now been making bucket loads of cash.
Megan and Bargold don't blame anyone but yourself for any "investment" you make in Junior Miners. It is a tough scene and you have to go in with your eyes wide open and accept that some won't make it despite best efforts.
However, there a some shonks as well so look closely at your Directors and management teams.
TTR Price at posting:
2.8¢ Sentiment: LT Buy Disclosure: Held
