Absolutely - TNC shouldn't be about sulphate, but that is the greatest irony for me. The funding model (crank up sulphate production to fund exploration and sulphide restart) has been a failure. We've all know that for a while, but have hung in hoping that somehow the funding gap would be filled by debt and a bit of good fortune - and that seemed to be the case with the Nebari Facility and then the mysterious $5m @12 cents. Both of those elements are (at best) now at risk - if either of those is pulled then where does that leave TNC?
I'd guess most of us have been in this with an eye towards sulphide production and Mt Oxide, the medium term question is how to navigate this totally self inflicted cluster fk to get through with a strategy and funding in place to get the potential of of those projects.
Ann: Response to ASX Query Letter, page-22
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