People have been baying for Martin Costello's blood. Seems to me those people have been aswered. I am hoping the board (Tembo?) have stepped in to say..."enough is enough" . There are peopl there and at Tembo who know copper and know mining. I have given Marty the benefit of doubt b/c I presume one cannot puplish JORC reserves unless one actually HAS the proof. The fact that a new managing director should be appointed "this month" suggests someone has already been tapped on the shoulder. In summary, I believe the resource numbers must be true. I also believe TNC management has worked through the numbers and have assured themselves they can gwt it out of the ground and processed and SOLD. That leaves finalising rhe finances (now biggest risk I.M.O ) and then actually DOING what they have promised. I cannot imagine Tembo and others who have put $$$$ up so far are of the mind to pull the plug. I have taken my BUY recommendation away to hold in recognition of the risks. I will however not SELL at this point b/c the outcome is not clear in any way. I still reckon if mining starts, there is a LOT of money to be made.
TNC Price at posting:
6.7¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)