Mentalist123, page-23

TNC said on page 6 on 17th October was shipping copper sulphate to their buyers with 2 to 3 shipments per week. Total copper metal produced ( September quarter) for 12 weeks 25.6 tonnes. So 24 to 36 shipments for 25.6 tonnes ( TNC’s words not mine) must have used a Toyota ute to deliver average shipment under a tonne. Forecast was 200 tonne. Production is going was going to cover all exploration costs. ( MD 2023 forecast) exploration costs: $2.446mProduction Revenue: $351,000. Bad forecast. Out by 700%. Cost for production, staff, directors, admin $5 million. (15 X revenue) ouch!June quarter finished with $3.492m. September quarter: spent the whole balance of $3.492m plus a further $7m in loans of TNC total $9m loan facility. Cash left at end of September quarter; $789,000. ( and that was at end of September a month ago) That’s it $789k cash and $2m in loan facility. Don’t forget, still have $15m more to pay in a few months that’s still owing on Mt Oxide. So where is the $10.5m going to come from, just for the coming quarter? Latest forecast for next quarter 160-300 tonne copper.Pulled these numbers from you know where. RS. So now what? No cash, No cashflow, $7m debts, plus creditors, El Niño massive wet due in Cloncurry over next 3 months. Seems if an auditor was to take a serious look at this Titanic would say, mayday, mayday, have hit the iceberg. Seriously the quarterly reflects TNC is not a going concern and without a cash injection of my estimation $35-$45m between now and June 30 2024 and an increase of 1500% in revenue fromProduction is “no looka too good”If anyone does not agree with me, tell me where I am wrong. Glad to be shown where I am wrong in any numbers or assumptions. As Always do your own investigation. This is my last post on TNC. I am no longer a shareholder. Good luck kids.