TI1 0.00% 1.4¢ tombador iron limited

Ann: Quarterly Activities Report, page-7

  1. 1,559 Posts.
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    Ned

    Been looking into this a bit and would appreciate your, or anyone elses, help.

    The Tombador tenement was vended in by Colomi Iron, based in Singapore (and primarily Clough owned I presume - it is a private company).
    https://hotcopper.com.au/data/attachments/2880/2880992-aced0af894be494e976f1e2388ce3e4d.jpg


    From the Colomi website http://www.colomiiron.com/ the resource statement is here, and the circled section is Tombador, and you can see where the other 5B tonnes comes from (much lower grade too)
    https://hotcopper.com.au/data/attachments/2880/2880963-5e23b80078d231750adcba8faa2c0322.jpg

    The Colomi tenements surround Tombador (circled) like this from the TI1 resource estimate document
    https://hotcopper.com.au/data/attachments/2880/2880988-6b415609b4e3b6714b41ed7a8eef7ef9.jpg

    Then back to the Colomi website for this................
    https://hotcopper.com.au/data/attachments/2881/2881006-bee60a4d243ae2d05f0c0428afaed11f.jpg


    So it looks like Tombador is the low hanging fruit to get some early cashflow to help fund the expansion from 1MTpa to 25MTpa (for Colomi South)

    The question like you've asked is what does that mean for TI1? Do was stay as a small cash cow to assist Colomis bigger plans, or will there be a vend in? If they get sufficient cash from TI1 dividends why would they need to vend anything in? I guess they would only vend in if they need extra cash and/or if they want liquidity of their holding? I'm not a genius but still struggling to see the likely pathway. Thoughts?





    Last edited by Torpy: 07/02/21
 
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