Duke, thanks for putting the Webinar video on HC. The right questions were asked and both pupils struggled. The Geologist almost choked when he was asked what angle the good holes was drilled at, I thought he was going to faint and hope that he wasn’t asked “Was it down dip” ? He was very nervous and couldn’t wait for it to be over. ( can’t blame him. I couldn’t do it. I was nervous for him) The questions where intelligent questions but none other than the Geos answers were anything meaningful I thought. There were no answers given, that I have been referring to. 1. What is forecast production of Copper Sulphate and what is the selling price per tonne as wet product. ?2. No mention of exploration costs. So how can the company forecast that production will cover exploration costs, if we are not given any dollar values. ? The discussion on grade and intersection goes over 90% of people’s heads, it’s meaningless at this moment in time. 3. NO mention of what the target resource is at Mt Oxide or what the plan is ultimately. 4. What is production Costs and AISC for copper sulphate production. There was mention of the float process plant at Great Australia mine for Cu concentrate, but again no forecasts or timing. There will need to be capitalexpenditure at great australia sulphide float process plant. How is that going to be financed. ? All we got from the video was a couple nervous guys that could not answer the questions in detail . Having said that, being on that type of video i reckon would be nerve racking and daunting and you need to be able to fire from the hip. It wouldn’t be easy and the brain is probably scrambled. The geo was ready for a nervous breakdown but under the circumstances I’d give him 8/10 knowing he didn’t know what was coming at him. The MD guy came over as genuine and obviously experienced but struggled and could not deliver on any questions and could not give any forecasts looking forward on anything.( said”Will be in next quarterly)?This is what I have previously been referring to in my two previous rants. We got no numbers $. We have an Offtake but don’t know who the buyer is or how far it has to be transported or what those costs or revenues are! We all assumed TNC was producing dry Copper sulphate crystalPowder, when it’s actually not. It’s wet crystals ( slurry). No mention of that mistake either. I didn’t see the point of having a video update, just for one hole drilled down dip, with no strategy or a plan or any mention of costs, revenue and production forecasts. Just” production will pay for exploration.”No mention of financing of the other 60% of the costs for an ASX company and with only just over $3m at end of June? I forecast a CR before end year. There is $2m credit line. But, noPoint trying to raise $$ in January/Feb of a new year, so my guess $5m CR by end 2023. Nothing wrong with that because I think apart from offering no plan, the MD is focussed. He could always substitute as Eddy on “who wants to be a Millionaire” if all else fails. I thought it was Eddy for a moment. In long term I think TNC has legs. MD will eat his words on the production/exploration match.I think that the MD is very genuine but he needs to deliver a 5 year plan and e plain why he is drilling Mt Oxide when it already has a 4,000,000 tonne resource. 500,000 tonnes production over 8 years. Why not drilling god metallurgy and spending money on BFS and DFS and get it into production? These are questions that he needs to qualify.MD delivery 8/10 delivery of a plan and costings, forecasts and plan 1/10. DrillResults won’t finance an ASX listed company anymore, every shareholder is looking for future dividends now.
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