Yeh but that is the nature of the beast. I like some of the drill results, I just read all correspondence from management. My biggest concern is funding. Glencore will offer a debt package of some degree, this I can bet on. Glencore terms will be glossy on the outside, deep fine print will not be good. This is where the trouble starts. I have seen Glencore as most of us have lend money on terms, give leniency for a couple of years and when things are set up nicely they will move in. Glencore will also have terms on 100% of sales of all concentrate etc etc. This then leaves TNC with 1 toll treating option, 1 sales option, No option at all to do anything really, Just be Glencores toy. In one announcement it states a US funder, so maybe they can keep Glencore at arms length and just pay a process fee only, Glencore will not sign a toll treat agreement with out sales included. Nor would I.
TNC Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
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