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clock Created with Sketch. 24/06/20
11:52
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Originally posted by Digity1:
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On TMT mgmts ability, I would point out that Michael Fry, TMT Chair oversaw total destruction of wealth on a gas play in South Africa (ASX: CEL). He basically sat on his hands for 6 years relying on one bet that the SA government would eventually approve the legislation required to remove the fracking embargo. That never happened and the ASX ended up giving 'show cause' to not de-list CEL as the company didn't meet the minimum requirement of an ASX listed company (ie. actually doing something). The Co. recapitalised, he got the boot, new resources in South America and SP goes from half a pip to 25c. I certainly wouldn't invest with TMT with him at the helm and certainly not a V only producer with higher production costs for V than a more diversified resource production base in TNG (when in production). V is such an opaque market and there’s a reason few new V mines come to market.
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Great analysis and no, I did not know about that story on MF. I'll see if I can dig out something with my own research.You’ll be 12 mths away from kicking off a FEED " that in today's announcement TMT mentioned the FEED is "envisaged to be completed within 26 weeks " i.e. 6 months. Given the calibre of the engineering partner and that management has so far delivered on all timelines, for the time being I have no reason to doubt they will have it done by early 2021.
Last edited by
lollot :
24/06/20
(20min delay)