Hi guys,Most of us realise that TMR is going thru a rough period...

Hi guys,

Most of us realise that TMR is going thru a rough period right now. Altough they have increased copper production they still have to prove to the market that they can bring the production costs down.

The armenian gold venture has been a setback when first the company thought it could be brought quickly put in production, but now realises that it was to whishfull thinking at the time.

HC said that no shareholder dilution would take place to bring Armenia and the other projects in production, we know what has happened.

TMR need cash they want to speed up their projects and I believe that now the share holders had the chance to take more shares at an reduced price, HC has gone to the institutions to get some more dollars and probably the same price.

Dissapointing but necesarry to get this company off the ground and to move its projects forward, so they can prove to the market that they mean bussiness.

I have not taken up the SPP because of the above, still have a large holding but took some off the table instead.

For now I want to see a positive turn around in this company before I commit more funds. No more talking up the projects but some concrete results , especially about copper production costs, which concern me the most right now.

After VRE I have become allert of continues positive announcements without concrete evidence of money going into the till.
The Iron ore resource was a PR stunt imho with hardly any inf to get a better picture.

I am not saying this company will not do well in the future, as HC has a good record, but for now I am watching.

Good luck to all holders

jojo