At time of GW taking over, the share price was hovering around 9 cents. This was at a time when the shares on issue were significantly less than now - capital raising was required to secure Speewah and also to keep the lights on, thanks to PB's incompetence.
In case you haven't noticed, the broader critical minerals market has had a sizeable downturn in the last 12 months.
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.
In future please get your facts straight.
As for me posting on this forum, I do not want to see others go through what I and fellow TNG shareholders endured. As shareholders in ASX listed companies, we (TVN/SRN shareholders and shareholders of other listed companies) should be on the same side.
SRN Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held
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