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3.7¢ true north copper limited

Ann: TNC PDAC 2024 Presentation, page-5

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Au9999

794 Posts.

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06/03/24

10:44

Post #: 72767566
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Originally posted by HermanMelville: ↑

To be fair, it's a little hard to say exactly what they are doing, because it hasn't been communicated properly. Normally you'd announce an FID following the updating of the resources and mining study. Marty talks about it like an FID has been made, but where's the announcement? It's pretty basic stuff really.

Instead we're left with a creeping assumption that an FID has been made and that we're gearing up for production at CCP. In this latest preso, the production guideline suggest no Sulphide production until after the end of FY'24.

It's just frustrating - good resources and good projects but just really crap communication from the MD. Be nice to know where we stand - has the FID been made, what is the expected timeline (include a bit of slippage to be safe) to production etc., we shouldn't have to wait until the next quarterly to then have to reverse engineer the report to work out what has been happening.

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My interpretation was the resource update and mining study got delayed and delayed, so they decided to announce they were proceeding prior to these being finalised. With the funding deal plus the continuous disclosure probe they decided they couldn't wait.
Also the decision was probably made 6 mouths ago.

TNC Price at posting: 8.8¢ Sentiment: None Disclosure: Held
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