That is really misleading. 15m is a provision for environmental cleanup and they have a 7.5m deferred payment due Dec '26, so that's 22.5m of your '30m' dusted. I mentioned before that they have enough cash to complete the current drilling programs. The drilling results of real interest (Vero) will not flow until mid year, so there is a fair bit of water to pass before then. If the market cap dips into10-15m range close enough to Vero results I think it is worth a punt. Would be great to make some money back from this sucker, but for me it needs to be a low risk entry as trust in the company isn't great.
TNC Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
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