Shareholders who are banking on the US$2M from the barge sale should not get their hopes up. The wording in the barge press release is very loose with no surety that it will happen ("entered the final stages of an agreement to sell" / "expected to be finalized in the coming month of August"). I hope I am wrong and that this is not similar to all the talk about "advanced negotiations to provide ore to Arrium" a while ago.
The proof will be in the pudding. They have been awfully quiet about this in the last month. If your market cap is only A$1.9M and you are hoping to receive A$2.7M for an asset then this should surely be your number one priority to bed down (and not putting out low level press releases with photos of samples on a truck). TYX must be in a very weak bargaining position for the sale of the barge if they do not close the sale quickly. The number of buyers must be very limited (and dwindling), there will be maintenance costs to keep it in good condition until sold and any buyer will be well aware of TYX's precarious financial situation.
Will be happy to knock on their door in West Perth and apologize in person for being a such a skeptic should they manage to land the A$2.7M. Might even be interesting to see if there is in fact anyone in and to figure out what they are doing at the moment.
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