Marty has misled people and cost them a lot of money in the process - it’s a fair call for them to be upset. Agreed the finance is the biggest issue. Tembo’s investment is at massive risk and their interest aligned with shareholders - the don’t have any security over assets. Nebari, however does have security over mining tenements from the Tranche 1 debt facility. IMO Nebari is the big factor. If they refuse to extend the Tranche 2 facility then they can put TNC into administration. The only way to avoid that is to get someone else to stump up the funding (equivalent to he Tranche 2 facility), and whilst you’d think Tembo would be the candidate for that, they sure as hell would be going through ALL of the numbers to check validity - people who bend the truth tend to do so on multiple fronts.
TNC Price at posting:
6.7¢ Sentiment: Sell Disclosure: Not Held
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