Hi Eric
I've been in about 8 months, and my experience so far tells me that it's probably genuine - a rarity on the ASX lol. TYK has very low turnover in between announcements, as you will have noticed. There isn't much game playing, so far as I can see, because there just isn't enough turnover for it to achieve anything.
We are now a fair way past the last CR of 0.2 cents, and getting close to what could be good news. I think there are new buyers genuinely queuing up to get in, and hoping to still score shares at the 0.2 cent level. However, most of the holders at 0.3 cents (the previous CR level) can't see any reason to sell at 0.2 cents.
So it's mostly a stand off until Joe Houldsworth and his team announce the latest drill results.
Then we shall see what happens next.....
Back on 11 December they were thinking the Nov/December drilling
might lead to announcement of a maiden gold resource in the New Year. However the drilling did not delineate the limits of the ore - which I regard as good news. The results announced on 20 January were good, but they also showed that the ore body remained open "at depth and down p[lunge to the north" in both the Eastern and Western zones which remain open.
The extra drilling in February is intended to see how far it goes.... The "visible gold" already announced ahead of the assay results is encouraging. It will be interesting to see just what the assays show, and whether they have reached the limits of the ore body and defined the reserve - or not.
If the answer is "not yet" then Tychean will need to raise cash again, to fund further drilling. If they can define a reserve, then the questions will be - how large, how cheap to mine, and how will they raise cash to do that? They may even need to raise cash just for the DFS.
So it's a very speccy play. But... Joe Houldsworth and his Geologist, Matt Svensson, made it work at Wattle Dam, and Matt stands to get 10 million free shares if he does define a resource at Redback. I can't see why they would offer him that, and why it would work as an incentive, unless they all regard Redback as likely to become a commercially viable mine.
Guru2 may well be correct - and Ramelius may be the partner they need. If so - it's good to hold both TYK and RMS.
Or maybe the assay results just won't be good enough. If the result was certain, TYK sure wouldn't be sitting at 0.2 cents a share, lol.
We will know quite soon, I think. Eshmun is dead right when he says it's risky but, personally, I'm glad I hold Tychean. Life isn't meant to be boring!
lol
Very best wishes Epic - and to all Tychean holders and watchers - the optimists and the sceptics both.
Pour yourselves a Friday night glass of something you like, and have a great weekend!!!
Cheers
Dave
(20min delay)