A good announcement, for once, even though they have not quite met their production target. Cleared debt and have a useful amount of cash.
TGZ look as if they could survive USD1000/ounce gold, if that were to happen.
The announcement was released pre market on the TSX, but the market reaction was a bit underwhelming. TGZ only rose 2.5 cents (4.2%) to CAD49.5 cents on 3m share turnover (a bit more than 1% of TGZ shares trading on the TSX).
There are only 70m TGZ CDIs so pretty illiquid market.
No dividend expected from this mob for some years if the POG stays low, due to their production expansion plans.
loki (I picked up some shares recently. Not sure for how long I will be a holder. Could be long term, or just a short love affair)
TGZ Price at posting:
50.0¢ Sentiment: None Disclosure: Held
