Good question f32
From their last preso at Noosa Mining Conference 30 September they have cash of $5.2m and since then have or are getting $850k from Talon and of course they are incurring expenses, but the operation is low cost.
Two significant factors at play right now for TMK with regard to the SP
- Market expecting a CR
- 1.1 billion shares and 550 million options to be issued
I'm hoping the company will avoid a further CR as I'm also hoping/expecting a farm-in or other corporate action in very near time, but no doubt the market is expecting at this stage. I think we will get to the time the December quarterly is released and that will give us a better idea of where we and company are at.
Company obviously looking to get the share issue squared away and then with the 100% ownership complete will be able to make the next move on this project as they certainly cannot do this own their own.
Meanwhile I ponder these figures from the Noosa conference.
1.2 TCF (2C)
5.3 TCF (2U)
1.2 TCF ~(1280PJ) of gas at US $10/GJ equates to US $12.8 billion
My opinion only
GLAH
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