history is fkd, i agree, but they just raised $50M+ pretty quickly, have major insto support, chairman chipping in $1M hard cash on market and via placement, MD and other directors also participating and buying on market, another 12-18 months clear runway with CoH and drilling to grow grade/tonnage, No debt, 1 deferred settlement payment of $7.5M due to Perilya in Dec 2026, which they will probs need dollars for and could raise on market again at higher valuation with exploration success from current drilling campaign.
With any luck, cash flow runway potential in 12-18 months while working on the production side of things in the background (remember the $200M FCF estimated for CCP over the ~5yr mine life?)
whether TNC or any other of the 1000 junior explorers on the ASX, the one thing they have in common is the need for $$$ to advance their projects, nothing new nor unusual.
but yeah, its history is fkd, we can all agree on that, and the creditors that pushed them into VA got paid and ended up getting equity at a 100:1 dilution on the consolidation at a 98% discount to IPO, so essentially tearing a new a$$hole to holders lol
TNC Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
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