Went along to the AGM today looking for some hope and logic to justify my sick looking holding in TZN. I wish I hadnt gone. Frankly, it was depressing and ugly. Angry shareholders and a sense of defeat by directors . Things I noted. Clearly bad blood between the co and KM. On several occassions KM (sitting with normal shareholders) would interject to correct or put his more blunt perspective forward- it didnt look good. Chariman (this is not a quote) but basically said we are working hard but have achieved very little! Chairman acknowledged there was absolutely NO interest in TH outside of NFC (due to sovereign stuff), and thus NFC had them over a barrell. Angas production was really the only good news, but with mine life up in 2 years, it got swamped by all the other negative stuff happening. Bottom line in my view, asset fire sale happening because there is no option. As for a future, I didnt feel the co articulated this well, probably because they dont know themselves.
TZN Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
