Telamelo, I wish I could believe that comment. Ok, let’s get real for a moment. Seriously for once all of us.First the problem: as I see it.1. Tombola has so far missed every deadline it has set.2. I point out the announcement made 10th May 22. “We are fully funded to Gold production”3. 4 months later run out of money. $5.8m + $10.6m raise $ gone 4. The company appears to have no budgetary restraint or on-site management skills to control expenditure. 5. The company offers no forecasts on timing, production schedules, or costings. No guidance on expected gold grade from ore mined, or tonnage throughout, expected recoveries, costs per tonne for processing, and no guidance of profits and ongoing costs for mining and exploration.6. What we get is “shoot from the hip reports” with no detail. 7. Over 1 Billion shares on issue. 8. Majority of shares purchased or issued over the past 8 months vicinity of 2.6c. WHERE TO FROM HERE??No more shares can be issued to raise cash as the 15% quota is already issued. To issue more requires shareholders' approval. Allow 45 days for that. That door is closed.Other alternatives: convertible notes? Joint Venture? Takeover? are the only way left to raise cash. No one will enter into these arrangements if the stay quo remains. The big players who it seemed backed TBA probably won’t dip their pockets again after the I’ll advise SPP underwriting. SO HOW TO FIX THE UNFIXABLE? No pain no gain Consolidation: 1 share for every 30 TBA shares issued already. Bring back to around 35m shares on issue. What does it do?1. It knocks out the day traders who trade in part Pennie’s and keep the stock “ wheel spinning” with no traction. The stock immediately opens at 2.6c x 30 = 0$.78c. Then Immediately, and or have in place a placement of 10m shares at $0.70c for $7m.2. Replace all current on-site management at Mt Freda operations. If it stays the same will be the same. Bring in an experienced CEO to manage the mining and processing side of the business. Retain the MD Byron Miles ( he is a good promotion guy with more front than Myers) and find an experienced Chairman to help guide the Directors. the current other two directors need to be more involved and get their boots dirty and support the ND but demand more translate ce from him as it appears he is carrying the load by himself. As I see it The MD has because of his inexperience in this cutthroat mining industry business surrounded himself with unqualified and non-disciplined management who thinks money grows in trees. I imagine that the MD has realized this and probably looking for help. I believe that if he gas the guts and fortitude to go to his backers $ and say, gents, I want your support, I now know where the “ broken railway line is” make the changes, top up $ with a team of mining industry experience people that no what “ budgetary constraints and discipline means.In today's high-tech world today we call it “REBOOT.”If you don’t reboot “ the more you change the more it stays the same”It’s a reboot or TBA gets the boot. “Fools and money never stay friends for long “As for the forecast of 9.3c without a change I say this: A squadron of 50 pigs and 50 Unicorns just flew past as I was about to pull my crab pot. From a Mentalist’s point of view. Mental tips IGO, and for a 6 month to happiness PVE.
TBA Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
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