TBR could probably finance the whole project. But it may be wise to find a good JV partner for Ghana so there are not so many eggs in one basket. However, lessons learnt from NSTs oppressive conduct at the EKJV will tell them to tread carefully.
In Aug-20 TBR announced Ghana is a monster with a maiden 1.8M oz JORC compliant resource.
In Nov-20 TBR announced phase 2 of their drilling campaign was commencing.
There have not been any resource upgrades since - but 3M oz would not surprise me. If you allow A$1.4/oz for costs the potential profit delta is in the $Bs, my calculator does not have enough digits!
People who see TBR limited to the EKJV might want to delve deeper. Ghana is TBR's sleeping giant.
It does frustrate at times that management has so long between updates. Hopefully the wait will be worth it.
TBR could probably finance the whole project. But it may be wise...
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