Yes, it would appear that way. The trouble is that in 2020 FMG filed proceedings against the WA Minister for Mining, MIN etc. FMG argue that the Minister's decision to grant the ML for Wonmunna, (the mine from which TLM's royalty flows), was invalid on the basis that no mineralisation report was filed when the application was submitted in 2008. FMG ran this argument successfully in the High Court in respect of some exploration permits that were granted over Winderoo Station. If MIN's ML is found to be invalid than that could put a stop to our royalty stream, ruining the one factor that makes TLM stand out amongst explorers.
Refer to:
- MIN announcement dated 23 October 2020.
- TLM announcement dated 30 October 2020.
The other thing which causes me to doubt TLM's future is its downward drift over the last 10+ years. Despite having various different exploration permits over this time it has been unable to turn any into a mine. What makes the current two projects any different? Seems like it is forever destined to be a drifter.
Yes, it would appear that way. The trouble is that in 2020 FMG...
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Last
25.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $48.02M | |||
| Open | High | Low | Value | Volume |
| 26.0¢ | 26.0¢ | 25.5¢ | $18.72K | 72.84K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 176000 | 25.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 25.5¢ | 9306 | 3 |
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| Last trade - 12.50pm 29/07/2024 (20 minute delay) ? |
| TLM (ASX) Chart |