Ann: Toubani to Commence Trading on ASX on Monday November 28, page-9

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beulemans

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30/11/22

05:00

Post #: 65061067
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Originally posted by freefrog: ↑

Hey guys, I don't plan to spend a lot of time on this board, but just a few additional comments:
- Danny IS the previous management. Only the audience has changed, along with the company name. Oh, and the additional dilutive shares.
- The 'goods' are likewise the same old same old, a low-grade and doubtfully profitable deposit in a high-risk environment, that is already well known and of no interest to potential entities for a takeover.
- Years of much-hyped drilling with sub-mediocre results did not substantially add to the resource. So the company opted to re-work the previous FS by adding even lower-grade ounces to the project AT NO PROFIT to make it appear bigger. I am not kidding, but you have to dig deep into the details to see this. The result is even higher financial and technical risk for no benefit.
- If you have no time for details, just skim a few years of hype-filled press releases (from the same Danny, nobody else) where they always promise great things in NEXT YEAR's drilling. Along those colorful but mineral-poor 'shear zones', of course.

In any case it's YOUR company now, enjoy it!

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Thanks freefrog. I was and am under the impression that Danny worked for Glencore until 2019? And his LinkedIn is still African Gold, so he's not hiding that or hyping Toubani there. I appreciate your perspective and I agree that economics are not top of the bill. But valuation is so low... I guess we'll see.

TRE Price at posting: 24.0¢ Sentiment: Hold Disclosure: Held
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