A bit of a summary on TGM, especially when you have peers jumping on news of resource upgrades, this is a hidden monster.
WWI today released an announcement of a resource increase taking them to 35.1MT @ 3.88g/t au for 4.375Moz Au WWI up 60% today with over 270m shares traded
TGM by comparison has 6Moz Au (44.8MT @ 4.18g/t including open-pit resource of 1.3Moz (13.08Mt @ 3.12g/t Au)
Sleeping monster will awaken SOON!
TGMO options expire at the end of the month, once they're out of the way we should push through 30c onwards.
Board has been strengthened with the appointment of Mitford Mundell (Ex Harmony / De Beers / Anglo American) + Jacques Du Triou (Also Ex Harmony) p.s. Harmony is one of Africa's largest gold miners.
Moving Forward:
- Permitting (amendment to open-pit) - Project Finance (negotiations underway already) - Note, we don't need massive funding for this, only approx $30m
Key high level financials
The initial starter pits are to be mined over a 5 year period to recover 234,063 ounces, in their annual report based on a gold price of $1,600 it would generate a $181m USD EBITDA, but realistically speaking at $1,900 USD the EBITDA is $275m USD or $385m AUD.
And we are only talking about 234,000 ounces of the 6,000,000 ounces they have in JORC resource.
Buckle up everyone!
TGM Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
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