"To be clear, PB left TNG in an absolute mess. He had an "impressive" DFS completed on Mount Peake that was not bankable. The capital costs to deliver the project was many multiples higher than stated in the DFS and Mount Peake was not commercially viable. TNG had nothing else of value, so effectively it was worthless - i.e. no commercially viable projects, no valuable assets and certainly no money in the bank. There were also issues with the Tivan technology that was being promoted as the silver bullet. Basically, whatever info was in the public domain regarding Mount Peake and Tivan technology was all fluff. Fortunately GW came along, secured Speewah, repaired damaged relationships, signed the partnership with CSIRO regarding Tivan+ technology etc."
How do you know all this, and if all that you say is true were SMS complicit?
It's become very obvious that a lot of projects in the junior sector have had to be rethought post COVID, even some that were already up and running, with the delays caused, especially at a crucial time for TNG when it was trying to bed down capex costs, which were going through the roof across the sector.
SRN Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
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