TBR has a significant cash surplus...hence the share buyback where they are splurging $23.76M. I like the buyback as it will improve existing shareholders eps. Their cash burn is very low as they operate with what is probably the lowest overhead in the ASX, low director fees etc.
They will have no issues with where to process the ore with lots of options in the area. The new ore treatment will likely be at a lower cost than NST was trying to extort. Give the board time to get the best deal. Ore sitting on the ground is better than money in the bank as the gold price trends upwards. Time is our friend...not the other way around!
BBB and his team appear to be plotting against TBR big time attempting to deprive them of cash to buy them out at a bargain....I can't see that happening. I think NST have terribly underestimated TBRs resilience who have lawyered up, with tier 1 legal advice, as they will seek retribution in the courts.
TBR Price at posting:
$4.91 Sentiment: Hold Disclosure: Held
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