The second tranche in May will depress prices , as the first...

The second tranche in May will depress prices , as the first tranche is doing now. Though why anyone would sell shares bought at 50 c for 49 c eludes me too. Obviously they don't have confidence in TIE's numbers. I suspect we wont see much movement in TIE's share price till June .

As Spectator 1 rightly notes:

"We have some very clear base numbers for the first 2 years of production, with 350k ounces (at 1.4g/t) and a plant that is going to be able to produce at higher rates). Though the numbers on a simplistic basis (4.5mtpa x 1.4 /31 = 203k p.a). That does not really stack up with the current mine plan, which is 260k 1st year, 190k 2nd year. That is 450k......"

And that's without factoring in recovery (always less than 100 ) . There is a discrepancy in the above numbers , likely easily explained with more information, not yet released by the company.

I said I would go through the MRE with a fine tooth comb. I , like Spectator 1 , am not wildly enthused. It is a reasonably solid result, but yet to see where the additional ounces forecast for the first 2 years are coming from.

Looking forward to hearing more good news from TIE.