I think Warnie is correct with his analysis of TYM, and by the way, we could do with him bowling in the third test at Headingly later today.
The TYM directors are probably in Australia next week to discuss a capital raising. They have been hiring staff in South Africa, and have offices in Germany. The problem though, with raising in Australian dollars, is that they don't go very far in Germany. The Aussie dollar has sunk in value against most currencies, including the Euro.
Unless they can get a fund to do a pump prior to a capital raising (with agreements for free shares and additional payments to the fund via the raising, in order to cover the costs of a pump), then it looks like they may have to try and raise at about 5 cents, and I'm not sure that there is going to be very much interest, given the current Blockchain market. Blockchain companies in Canada have been falling over and going into administration, it's a pretty dire sector at the moment, and the worst in which to try and raise cash.
Blockchain may become more prevalent, and be far more in demand by 2025, if world business becomes truly convinced and committed, for the moment though, it's an elephant's graveyard. Better to be investing in gold.
Blockchain Sector Sentiment (for the Newbie).
Avoid.
Personal TYM Position.
Holding.
Note: I may take up a small additional amount in a capital raising, despite the dire state of the industry at the moment, to lower my average, but more importantly because I'm now committed to holding this company for the longer term, and to see what happens to Blockchain globally in the end. Remember though, never bet more than you can afford to lose, Do Your Own Research (DYOR), and don't do what I often do (because you will lose 40% of the time).
Gw
TYM Price at posting:
6.3¢ Sentiment: None Disclosure: Held
