TNC said on page 6 on 17th October was shipping copper sulphate to their buyers with 2 to 3 shipments per week. Total copper metal produced ( September quarter) for 12 weeks 25.6 tonnes. So 24 to 36 shipments for 25.6 tonnes ( TNC’s words not mine) must have used a Toyota ute to deliver average shipment under a tonne. Forecast was 200 tonne. Production is going was going to cover all exploration costs. ( MD 2023 forecast) exploration costs: $2.446mProduction Revenue: $351,000. Bad forecast. Out by 700%. Cost for production, staff, directors, admin $5 million. (15 X revenue) ouch!June quarter finished with $3.492m. September quarter: spent the whole balance of $3.492m plus a further $7m in loans of TNC total $9m loan facility. Cash left at end of September quarter; $789,000. ( and that was at end of September a month ago) That’s it $789k cash and $2m in loan facility. Don’t forget, still have $15m more to pay in a few months that’s still owing on Mt Oxide. So where is the $10.5m going to come from, just for the coming quarter? Latest forecast for next quarter 160-300 tonne copper.Pulled these numbers from you know where. RS. So now what? No cash, No cashflow, $7m debts, plus creditors, El Niño massive wet due in Cloncurry over next 3 months. Seems if an auditor was to take a serious look at this Titanic would say, mayday, mayday, have hit the iceberg. Seriously the quarterly reflects TNC is not a going concern and without a cash injection of my estimation $35-$45m between now and June 30 2024 and an increase of 1500% in revenue fromProduction is “no looka too good”If anyone does not agree with me, tell me where I am wrong. Glad to be shown where I am wrong in any numbers or assumptions. As Always do your own investigation. This is my last post on TNC. I am no longer a shareholder. Good luck kids.
- Forums
- ASX - By Stock
- TNC
- Mentalist123
Mentalist123, page-23
-
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add TNC (ASX) to my watchlist
(20min delay)
|
|||||
Last
2.8¢ |
Change
-0.001(3.45%) |
Mkt cap ! $24.51M |
Open | High | Low | Value | Volume |
2.9¢ | 3.0¢ | 2.8¢ | $33.26K | 1.159M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 139654 | 2.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.0¢ | 40000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 139654 | 0.028 |
3 | 137888 | 0.027 |
2 | 606468 | 0.026 |
4 | 723088 | 0.025 |
2 | 593088 | 0.024 |
Price($) | Vol. | No. |
---|---|---|
0.030 | 40000 | 1 |
0.031 | 142235 | 2 |
0.033 | 106918 | 1 |
0.034 | 306058 | 3 |
0.036 | 100000 | 1 |
Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
Featured News
TNC (ASX) Chart |
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online