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Ann: Appendix 3B Conversion of Listed Options , page-10

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  1. 1,047 Posts.
    I was going from TNRs announcement on 6/6/2011, which includes a table of milestones they are aiming for, including an estimated 2000 ounces of gold production in 2011, with the plant about to be ordered (at the time) for delivery in September 2011. (Milestone marked November 2011)

    With the options having expired out of the money, the up-front capital cost of the plant may require some extra effort to finance, but 2000 ounces over the next 6 months sounds like enough to break even on.

    Mid next year they plan to have a larger plant in place with a target production of 14000 ounces. Which obviously puts it well and truly into self-sustaining territory.

    Obviously, the devil will be in the cash-flow details. But overall it sounds like it has a good shot at being self-sustaining sooner than you might expect. (It is of course possible that TNRs outlined plan is ambitious, but I'm willing to give them some leeway on that considering their guns-blazing approach so far).
 
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