Extract from Eshmun's post 10.6.18:
That is without the Upper Zone at Monty and any possible reserve upgrades that will likely be made IMO once UG exploration drilling positions are established (I say "will" and "are" as this is not a done deal yet.....VOTE NO).
I agree Eshmun, the JV deal is far from over yet, who know perhaps even Kezza may also have a rethink with his own substantial 18% shareholder vote.
Just perhaps like SFR's initial discovery by Margie Hawke, 'TLM shareholders VOTING NO', could be our own (TLM's) Margie Hawke/ SFR, company defining
moment.
As per the below blog extracts as we know history tells that SFR had their own company defining moment back in 2009, after SFR as a junior explorer was on the brink of collapse (of which TLM are not). SFR are now a powerhouse mining & exploration company, with more than a 1.5 billion dollar market cap (additionally imo as a big mining player, SFR at times comes across as an outwardly looking, disrespectful JV partner to TLM, one of which appears to have forgotten its very own roots.)
Again my personal view (rightly or wrongly) is to VOTE NO!
Lets see what we 'truly' have with this prospective Springfield JV. These prospective opportunities rarely arise. When you stop and think about the odds of a favourable outcome for TLM holders, they are definitely on the huge upside.
For those unfamiliar with this dramatic masterpiece of recent industrial theatre, back in the winter of 2009 Hawke was a junior exploration geologist at Sandfire Resources. In fact, to give a perhaps more accurate view of the landscape, with her employer – as were so many junior mining companies at the time – savaged by the Global Financial Crisis like a child’s toy shaken by a maltreated Pitbull (I won’t quite go the full Shakespearian “Winter of our discontent” route…but times were certainly tough for the industry)
Hawke, one of the last 3 employees left on the shrinking company payroll, was pretty close to being the entire exploration team at Sandfire.
At the end of an otherwise unsuccessful exploration campaign, and with the company about to up-stakes and leave the field to lick their
wou
n
d
s,
she took the bold initiative (some tellings of the tale might describe it as inexperienced presumption – but given the spectacular success of the play,
we really have to respect the form of the heroic narrative) of signing off on a final drill hole without the approval of her absent boss. The spectacular copper, gold, and zinc mineralisation intersected in that last roll of the dice literally saved the company.
For every De Grussa jackpot though, there are likely a dozen ‘last rolls of the dice’ (and inexperienced presumptions) where the end result is the brass name plate of another failed small-cap mining company being quietly unscrewed from an office building in West Perth. These tales are less well reported though – with few participants keen to broadcast their failure from the rooftops.
Luck – perhaps not always of the spectacular form enjoyed by Sandfire in 2009 – will inevitably play a role in any discovery, with the true craft of a good explorationist like Hawke being to make sure you’re in the right place and looking in the right direction when your numbers come up. The question then is how do we use our luck more effectively in exploring for mineral systems beneath the blanketing rock?
(20min delay)