I agree that the options are very cheap and Byron Miles has nabbed himself a great little nest egg. I'm not overly concerned about this, but Miles needs to deliver now, and by that I don't mean a 1-2 week pop up in the SP. This company needs to start producing.
Are the performance goals easily obtainable? Well, they should be, but let's face it - this company has done sweet FA since they booted Matt Morgan and co. The whole premise of them being given the boot was that the JORC estimate came in under the previous one, which was based off 1980s/90s drills that could no longer be used. Skip ahead 6-8 months and there's a new JORC estimate that's 5-10% more than before. Whoop-de-do, what a great decision that was to give MM et al the boot. Then there was the kerfuffle with Round Oak, which we still don't know the details, but I imagine means TBA needs to fund their own crusher. Anyway, what I'm saying is there has been some awful headwinds, some self-inflicted, some unavoidable. The milestones may seem easily achievable now, but they haven't been thus far.
TBA Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
