Everything seems to happen very slowly in SA these days. I know of several ASX companies that have been languishing for years apart from TGM. In fact, TGM seems to be more advanced than most. There is WWI (gold+uranium), ORN (Cu-Au), VR8 (vanadium). The country cannot even deliver grid power reliably and massive corruption all around. Then there are the black empowerment rules whereby a high percentage (30%?) of a project has to be handed over to black owners. I took a stake in TGM 5 years ago because of its promise and have bought and sold along the way to average down. There are signs of progress, albeit slow and of course the Chinese are now building a position. My exposure is not high and so I can afford to be patient. Nevertheless, I am not in a hurry to invest in a SA operation again.
TGM Price at posting:
12.0¢ Sentiment: None Disclosure: Held
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