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3.8¢ true north copper limited

I think you are pricing the loan in USD and the costs in AUD, so...

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Au9999

797 Posts.

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31/01/24

21:53

Post #: 72172328
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Originally posted by Rupert001: ↑

Madaz, you live in dream land, the first tranche on the loan is $18M, TNC has allocated $13M to refinance the Rehab to the DOR/DES Qld Gov, $5M to repay a private loan....All gone! Of the $10M raised recently its all gone as well! Admin/Staffing Costs/Exploration. Current cash position as of 31st Dec is $1.63M, that's it. Tranche 2 will be paid when mining/production starts. How can you start with $1.63M? The Cairns office will dissolve that each month. Sorry to say, but its not looking good. My guess Marty will be gone by mid/end of Feb. Sorry state of affairs!

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I think you are pricing the loan in USD and the costs in AUD, so not quite all gone.
Your point is still valid though. A large chunk of the loan is chewed up. I'm sure the plan will detail that they have exactly the right amount of cash to start mining and cash flow. Question is can you believe it? The management isn't exactly instilling confidence on that front.

TNC Price at posting: 9.2¢ Sentiment: None Disclosure: Held
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