TNC have announced thatGreat Australia Mine and Wallace North will be operated as a single mining operation. They are located approximately 40klms apart. How will that work? There will simply be two kits of earthmoving equipment/drill and blast/mine managers/geologists etc. and supporting employees at each operation! (Mystified). TNC state that Wallace will be mined from the surface which is the Cu oxide zone and transported to GAM for heap leaching. GAM ore transported to Glencore 120 klms away. Maybe TNC can explain how they will be considered as a single mining operation? Two different ore types at start. More importantly all of these mining options and forecasts, capital raisings, loans etc. are being done without any announced (DFS) financial study to prove it’s viable. Considering TNC recently stated in an announcement, (page 18 of 31/1/23) attached with “cautionary statement” that the “project may not be viable.” Nothing I’ve seen since saying it’s viable. I think I’m being reasonable asking these questions. No point putting heads in the sand. Anyway as usual do your own investigations, before making a financial decision.TNC also has an outstanding payment to be paid for balance payment due for purchase of Mt Oxide ($15m as I understand). Probably an update from the management explaining these possible anomalies could be addressed sooner rather than later.
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true north copper limited
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TNC have announced thatGreat Australia Mine and Wallace North...
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Price($) | Vol. | No. |
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