ASR (ASX) Ann: Torian Secures Funding to Settle on Tarmoola Station

Originally posted by DavidW: ↑

Yes Manabouttown, TNR is one of stocks that has initially disappointed with the capital raising and cheap options which you know I disapproved of and like many of us could have followed the charts before the cap raising announcement which went beyond the expected and filled the pockets of some. The point and figure charts did not lie. But like many of us, we elected to go long because the geology was compelling and remains so for what I believe is a bigger lick following the arsenic.

The smarties are adding to their pile at these prices going by broker information, not retail. I think you would agree. If the current price reflects the value, then one could argue they raised at a much higher price beyond their unproven value on mere speculation but now they have funding to drill that arsenic trail and complete infill drilling which if successful is expected to be a multimillion ounce resource given the length of strike and the joining of systems you mentioned. Sampling is a valid statistical method and is not new given the lab difficulties and who gets access. Certainly the CSIRO is examining new technology here which would by an improvement on XRF. Be nice if they could use that but I think the geo Claudio knows his stuff and we know the time frame was extended to accommodate the bigger prize. That is the current management decision in play from now on.

So I have cast from my mind the last couple of months as if I was looking at this as a new project that is fully funded. At these prices its still worth the punt in terms of risk and reward. The reward far exceeds 3:1. Its a business decision. If it doesn't come off I will simply right it off and move on because my capital is geared to more than one company to spread risk.

However, what I find distasteful is repetitive, circular commentary by some and others who get on the bandwagon which rubs salt into the wounds of those that feel trapped at the moment. Its well known market makers scrape this information into a data base to aid decision-making. Its been done and dusted and time to move on because otherwise they are playing into the hands of market makers or those hanging off their coat tails. Been in a few companies that went through meandering processes that have hit their straps in the new business cycle despite the bagging at times.

The goal is return on capital, not return on emotion. I never cry over spilt milk and never put down what I can't afford to lose in a speculative stock. So in my mind, I ask myself will I come out in front when all is said and done? Yes, I think so. However, those with a much higher entry, should have used a stop loss for capital management if they were short term trading. Long term, heads will be fine and multiples given the expected size of the resource.

They may have sold ground but you can only manage the best opportunity by capital deepening and not spreading shots too far in quantitive analysis given the capital base of the company.

So really, my interest lies in the infill drilling and following the strike as mode71 has outlined so patiently at length. Fifty thousand meters over the longer time frame suits me fine as a long punt. The company can achieve that IMO and hopefully relieve others short term discontent. The price will be what it will be in the meantime and I am hopeful by the end of the year progressive results allow option holders to capitalize too. Nothing is certain.

I agree they have to define a big resource and if they do, the return on capital for holders should be greater than 3:1. So in that scenario the number of shares is less significant.

As far as Tarmoola goes, there is ground for further exploration but there is ground for further alliances with those companies operating in the area. The drilling service business operating out of there adds diversity and a means of defraying costs of future mining operations and given Covid the tax incentives are fantastic. That's vertical integration. It is a strategic move in terms of land valuation which has gone through the roof and could act as collateral together with the cattle on the station. It provides lifelong tax offsets as well as carbon credits which miners are subjected too as well as water rights. It is freehold land. Good move, seeing you asked for my opinion Manabouttown.

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BUY more....quickly, before it goes up....LOL

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(20min delay)
Last 0.7¢		Change 0.001(16.7%)		Mkt cap ! $15.11M

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0.6¢	0.7¢	0.6¢	$122.5K	17.70M

Ann: Torian Secures Funding to Settle on Tarmoola Station, page-60

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