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17:10
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Originally posted by insaf
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This has been discussed before. Yes Ton was a potential monster. However it's demise was multifactorial. Boyle has his strengths but he also has weaknesses. Unfortunately the board had poor governance where ultimately it had a cashflow issue and inability to pay it's creditors. The project was promoted as a super pit but didn't deliver in results I.e less lucrative small flake and suggestions of poor quality MOUs. Some of this is unknown and ton hasn't been forthcoming so far with details of Boyle's departure. Do I thin Boyle was responsible for Ton's demise - not solely but as CEO he had a responsibility no doubt. However his strength has been getting explorers kickstarted with broker support and has extensive networking to progress agreements. Ton did move to 90 plus cents. However the results just did not match the hype of balama and focus was switched to ancuabe. The aggressive drilling campaign meant it appeared ton had no funding support when attention switched to Ancuabe. Others will fill u in better. However my confidence is in adv management to control Boyle and all signs seem the approach is slower and methodical with adv. hence I was encouraged with Shane's comments regarding cashflow.
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Thankyou for your very considered response, for what it's worth, I did take a position on Friday, and look forward to some of this very positive sentiment Come into fruition, good luck
