screaming buy with current market cap less than annual modelled free cash flow from present mining activty that has been producing copper ore to heap leach and mill for the past month and will, one would expect, see first sales under the off take with Glencore reported in the next quarterly. First full quarter of production will be next quarter and report in January should start to paint the picture of profitability of the Cloncurry hub operations. Mt Oxide is a monster and when Glencore and others who like copper exposure in their long term profit centres get a bit hungry that project will be in play, its going to be big enough.
TNC Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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