Like the Never Never, page-9

I don’t think it was ever the real short or long term plan and TNC was NEVER going to go mining. There was never a “real plan” and grade of 0.66% Cu and no processing plant except for Glencore at Mt Isa. Everyone got naively excited because of this “big” JV with Glencore. Anyone private or public with a copper mine in QLD can sign the same deal to process with Glencore. At 0.66% Cu would get eaten up in mining, transport 140 klms to Mt Isa mine and processing by Glencore, transport of concentrates thousands of km's to Townsville, sea freight to smelters over seas, charges for TC/RC of concentrates. No one did the math's. Naive discussion always. No serious industry player will take on Marty’s role unless he is going to be worse than Marty, because the writing is on the wall. None of the tenements held by TNC are worth a penny. Round Oak previous owner of the tenements lost 250m and walked away. All TNC has done is raise and spend/waste cash.Tembo caught with their pants down. Time to move on. Next time Tembo and friends, do your DD. It’s the only guaranteed secret to success in the mining industry. Anyway do your own DD shareholders next time and dump to Euphoria every time the whistle blows. Good luck.