z of resurcxe Hi Rita, First of all, if you bought to make a killing in a few days, then yes, you got it wrong. Secondly, why did you buy? Was it a trading decision based on charting and SP movements? Thirdly, did you carry out some investigation of TIE announcements and try to assess their prospects? If you did the third, then no need to panic because you were not looking for a quick short term gain but rather looking for a long term success. TIE have a resource over an extended area that they are still drilling both to define resources and also to find out how far and deep it goes. A PFS is an early stage assessment. It has given us some proven reserves (ie economic to mine) but all the indications from the ongoing drilling are that more resources are being found and a percentage of these can be expected to turn into reserves too. The next step is a DFS or BFS that results from a more detailed study and analysis of resources, metallogy, processing and mining costs. The DFS can be used to obtain finance for implementing a mine and processing facility. Sometimes, another gold company will make a bid on the company after the DFS is produced (Cardinal Resources, also in West Africa, is a good example recently). However, the PFS to DFS process will take time. As it stands, TIE need to define more reserves to a JORS 2012 standard in order to get a DFS to a level of profitability that will attract financiers in today's market for a stand-alone processing facility.. Obviously, time is needed for TIE to build up the picture of resources and get them into a DFS as reserves. They do have a good start with 3Moz of resources so far but need to keep proving reserves as well as more resources that can become reserves.
TIE Price at posting:
29.5¢ Sentiment: None Disclosure: Held
