First Corvy- where can the price be - anywhere from 66c to $2 One thing I do know is the major shareholder is looking for elephants. Remember asking GS if he didnt think it was time to lock in price ,exchange rate or both(price was about 1850 at the time and discussion was around why more companies dont hedge) He said bigggest shareholders in TAM would be strongly against as they were looking for upside. I got the impression he meant the biggest, holder but could have been wrong.
We are a prime mover in Australias newest and one of its most exciting gold belts.Just one more rich area like what we are focussing on now and I think we could go straight to $2.If we do prove something else ,people will not restrict their thoughts to a mid tier horizon. There are elephants around.
Wheels - I too get nervous when lawyers and accountants start taking control.Initially I thought this was to facilitate the sale of the company to someone with the experience of large scale production.
However,this does not explain why a new geo and mining engineer have been taken on board.Another drill rig added to the equation now suggests that the feeling is establish an elephant and quickly. Like you I am concerned about largest SH,s thinking this is a personal investment which they have absolute control over. If the new board start becoming a bit autocratic it will will be good to remind them of what shareholders with detrmination can do.
In the interim I will be happy if the technocrats run the day to day whilst we establish what the policies from the board are going to be be and whether they suit us.
Almost regardless of what happens if the gold continues to prove itself the price will go up.
TAM Price at posting:
57.4¢ Sentiment: Buy Disclosure: Held
