Good point(s), although the offtake agreement for the sulphide...

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SentryBox77

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17/01/24

06:49

Post #: 71913839
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Originally posted by hazza25: ↑

You do all understand that TNC is a company that is only 6 months old?
I agree that some timing declarations from the board have been optimistic and it may have been better to keep the time-lines more vague.
I have never seen or experienced a mining begin operations at name-plate production levels from the get-go.
Note the statement that TNC Cloncurry operation had 23 days (out of 31 days) in December 2023 where temperatures were OVER 40 degrees C.
Basic knowledge of physical Chemistry tells you that to precipitate a crystal from any solution one must get the concentration to a point above its solubility. Solubility of almost any partical INCREASES with temprerature. Increased solubility of Cu from a Cu Sulphate Pentahydrate solution is no exception.Increased solubility = Reduced crystallisation = Reduced Cu metal production. BUT GUESS what, the stuff that has not crystallized does not disappear and can be treated again at lower temperature when conditions permit.
Also note that Cloncurry is targeted to be about 10% of the production mix at this point.
I, personally, am keeping my eye on the long term target production of 12000 T.P.A of Cu for TNC.....which again has been stated as expected to be about 20% to 25% of their eventual income stream. GAM //Mt. Oxide and Vero all contaln meaningful amounts of Cobalt / Gold / Silver and possibly other metals.
TNC is paid a PREMIUM for each ton (1000 kg) of Copper metal supplied to Kanins for this specific reason.
12000 Ton X ( +$12000 to $13000) AUD per Ton = LOTS !
If THAT is the return they are going to return...then I do not mind if it begins first week in February 24 (which it won't or indeed if it does not begin ramping until some reasonable time thereafter.
I am looking / expecting my return to be reality some time in 2025 maybe.
After all, production needs to RAMP UP...to the steady state and that can take more time than you may think.
It is the END RESULT that matters.

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Good point(s), although the offtake agreement for the sulphide material (ie the 90% of the ~12,000t) is another thing we’re waiting to hear about.

Nameplate is a separate issue to company production guidance. When you give guidance and restate your confidence in the progress at multiple points in time through the period in question it’s very poor optics to then come up 50% plus short of the bottom end of the range stated.

Better communication from the company would go a long way to improving things imho.

TNC Price at posting: 8.5¢ Sentiment: Hold Disclosure: Held
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