I found TMX while I was researching NZS. It looks to me to be quite undervalued for what it is, where it is and who is involved. The history and features of tenements adjacent to TMX looks to me to be also quite interesting.
I am quite busy this week so I will have to do this in installments (there is quite a bit to say). I am sure I don't need to go into too much detail about the tenements or history of TMX (I am sure it is done to death already) but it is clear from the outset that they have valuable, prospective tenements.
Suffice to say, TMX sold a small tenement with a 60,000 ounce JORC to RED. It is clear why RED like it. They have to get ore to send to Darlot.
However, there are some other interesting features nearby - for starters - in late 2019 SAR bought out BGL next door to TMX for $34m. Below is a map of the SAR tenements that they bought out BGL for.
Looking at the magnetic structures over these tenements, and TMX' recent acquisition of P 37/8521 (Wilsons Patch - which has been in private ownership for decades!) you can kind of see what's going on here.... TMX owns the donut around the hole it sold to RED, next to the tenements SAR bought out BGL to acquire. Good place to be right?
