Hi everyone, I was wondering if there was anyone who has or has previously invested in TLM or has an opinion of them? They are engaged in exploration of copper-gold deposits here in aus, and their main project is right next to Sandfires DeGrussa project. At the moment they have more cash in the bank than their market cap and have quite a few other exploration sites as well. Cheers, DG
$21m cash position at HY to 31 Dec 2012, $19m market cap but .. They can spend $7m a HY on exploration and evaluation alone. Cash decreased by 6.5 in Dec Half 2012. In other words, with expln + admin/supplier expenses + interest received declining, they could spend the lot in less than two years. If they were going to get a DeGrussa type neighbouring result wouldn't they have more of a sniff by now - 4 years on? I'm holding a relic parcel of Sipa Resources (SRI) with a Doolgunna tenement just to the east of you. Same forlorn hope of holders for a DeGrussa 'analogue', but at least SRI mgt has a bit of drilling encouragement to wave around. TLM didn't get any obvious market response to its fresh exploration initiative 25th Feb - price went down on higher volume in fact. Chart down low where you'd expect a bit of speccie support buying, but volatility has been to the downside - looks indecisive? Just a few shallow analysis comments
