TBA 0.00% 2.6¢ tombola gold ltd

I'm going to play devil's advocate here, and point out a few...

  1. 191 Posts.
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    I'm going to play devil's advocate here, and point out a few things about this release and the timing. FYI I'm a LTH having originally purchased shares around October 2018, and accumulating various times over the past few years averaging out to around 0.053. I have also recently halved my holdings, as much because I wanted to take profits as I wanted to free up funds to invest elsewhere.

    Firstly, while these drill results are pretty nice (though the Cu is a bit low for my liking), how is this substantially different to previous drill results? Look at this snippet from the market announcement from 2018-11-27:
    https://hotcopper.com.au/data/attachments/4317/4317604-24aeece1e8c15627f02cb70945a5a145.jpg
    The intersection depth and width are pretty similar, along with the grades. This new hole was 68m @ 1.4g/t Au and 0.4% Cu. Not a great deal of difference.

    The other thing that I notice about this is the chart. Look at the current chart for the previous 2 months vs November 2018, when coincidentally they last drilled Little Duke:
    https://hotcopper.com.au/data/attachments/4317/4317661-168779073065a2a0e2dbbd05334110c2.jpg

    Looking similar? Something else is also similar - the lack of a crusher. The fundamental problem of getting the ore into bars still exists, and the promise of gold in the near future is the same as well.

    Now, I don't think that TBA are dead in the water, but I do think there are fundamental problems that are still not resolved, and while there is a new board (which is a good thing) they are still beating the drum with ramping, and not addressing a very key, very expensive problem.

    GLTAH and DYOR

    Last edited by kjartan: Typo fix 05/05/22
 
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