Yes it all depends on what tnr does, for example if tnr drilled up a decent resource at Mt stirling, they are targeting 400m depth this campaign. There present jorc only includes shallow and nothing below 50m.
If red discovered a resource other side of tnr, to treat they would need to haul around tnr, instead of a direct path.
Its all to early to know, but logistically it would make sense if tnr proved up a decent resource and red got gold other side to merge into a super complex.
If not, red could toll treat tnr ore, but if they increase resources other side of tnr they may choose to use that extra 2mtpa for there own ore.
We then have tnr having to cart to kalgoorlie or build there own plant.
This is where nva comes in, there chasing gold output and do have the balance sheet to fund capex.
It certainly is interesting with lease structure, having two big players and unknown potential future resources what the end game will look like.
For tnr, if they deliver, they are in a unique position.
TNR Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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