You guys make my head hurt and heart break. I might be one that was sucked in.....or hopefully things work out. My understanding is/was that their company target was to eventually produce 12000 TPA of Cu. I have not interpreted any finite time frame. When originally looking at TNC I also noted that they stated that they expect Cu production to be about 20% to 25% of their income. I assume there will be income from Gold and Cobalt or other metals in the mined material. Everyone is correct, there has been slippage of time frames but so far I have not seen those as particularly bad. Only a matter of weeks or 1 month or so. I am crossing my toes, legs and anything else I can find that we hear something next week. They did indicate a decision to go ahead by 'early January' at last count. I would have thought that the Instos that joined the Cap raise would have reckoned it will work. I regard these things as a RATE of production to be reached not and amount , especially at the benning. 12TPA @ say 25% (optimistic I know) = 1T per month = 4000 Bags per month = 200 bags per day / 2 shifts per day = 100 BAGS per shift assuming only 20 working days/month. They may well do more days or hours. Now Cloncurry should be ramping to 20 Bags per day. X 20 days = 400 Bags. My understanding is that the current Cloncurry operation is quite small to begin and output will be of higher concentration once they complete treating the left overs they currently are and move to higher grade sources. The main game here, as I saw it, is to develop GAM and Mt. Oxide and then the Vero Resource which seems to my untrained knowledge to be shaping up as quite good. Then again, I might have it all wrong. I am hoping for a return in about a year or little more.....I need the S.P to be MUCH higher. Stupid sucker I am.
TNC Price at posting:
9.6¢ Sentiment: Hold Disclosure: Held
