A thought. Terramin held up reasonably well this week till the later part when it got slammed but all on very low volume.
My guess is that the only people selling were people who were forced to sell because they could not foot the cash for there margin call.
Why do I think this. Simple because I had TZN on a 30% margin loan which in the last 10 days I have had 2 calls one for 2800 and one for 2200. Personally I was able to cover this as I was only using the margin funds as a cheap alternative to my over draft.
Bottom line a lot of this S**T over the last week I believe would not have happened to the extent it did if margin loans did not exist. Look at Fortescue over the last fortnight - fully butt F****D because any man or his dog could get 75% on the shares.
So where does this leave TZN. My opinion totally over sold but no buyers at the moment. ( I understand this my spare cash is in the bottom drawer) The company is on target with Angas, under budget and over performing on resource recovery. They are on schedule with TH except the upgrade, which is a few weeks late at present, but personally I hope someone at the lab pours a couple of drill sample in the bin, so we have to wait for new ones, hopefully by which time the market has found some stabiility. Would not personally want to see the upgrade come out this week.
Money TZN has plenty at present as our management was smart enough to raise money whilst things were still good and as we are now a producer we should have the ability to sail through the choppy waters.
Long term TZN SP will be out of this world, and most of us on this thread have been in for several years so what is a few more.
TZN will rock, we must be patient and trust in the management who have done an excellent job over the last 3 years.
TZN Price at posting:
82.0¢ Sentiment: LT Buy Disclosure: Held
