Hi all, Sorry for not being a as active on the forums as i...

Hi all,

Sorry for not being a as active on the forums as i normally am, real life getting in the way

In relation to our email to Tiger
The company hadnt called or responded back, however today's announcement did answer the fundamental question of how they were planning on getting money to fund the mining/purchase of ore. My biggest fear, the fear of production stopping seems to have been avoided. I expect the upcoming quarterly to shed more light as to how they plan on continuing the production.

There are a few positives and negatives about the report, my take is that the lenders are still supporting the company, even waving the repayments for at least 12 months. The new loan will be used for operating purposes which i expect will go towards mining and meeting some of the short term DRC loans. Lenders could have pulled the plug long ago, yet they continue to support us.

The terms of the loans are not favorable, however i dont think we had much choice, TGS could have gone to do an equity raise however, as per my email.. we were running out of time and they needed that cash to commence mining/purchasing ore (still not clear).

It will be interesting to see how well the issues with production have been addressed. If we have been able to reduce costs and increase output at this higher price i dont think an additional 10% loans will affect us that much. On 18mil loan, the interest is 2.34mil per annum or 600k per quarter).

You may remember we spoke about a 0.01c change in copper would improve TGS profits by 500k p.a. based on 32,500tpa.. In essence my point is, if this 18mil loan gets us to where we are meant to be it shouldnt be an issue.