SFR joint ventures in hindsight

Hello peeps, non-holder here not seeking to preach but sharing my experience and my "I should have..." sentiments with you.

I'm a long term TLM holder. A few yrs ago I was exactly where you were, annoyed that TLM had just sold out 70% of a project for SFR to hit a moderate size but monster grade deposit on TLM ground.

The price popped nicely, up around 100% on discovery and this is where I made my mistake.

Thinking "how big is this for TLM!" was foolish in hindsight because SFR own 70% of that sweet resource. Plus the mill etc as well as completely controlling the JV, exploration decisions, time lines etc.

What I SHOULD have done, was sell TLM around that 100% pop and put the money into SFR. They are the ones that will capitalise on the resource.

The smaller JV partner will be locked into raising capital for JV expenses, lots of drilling, studies, and then development. Dilution, borrowing, it's not easy for a $40m company to finance a mine but for SFR it's just the small change in their deep pockets.

TLM's share price is now lower than it was when our discovery was made, and it's been a 2+ year wait for development of the mine.

Anyway... I'm sure you holders are all over it and I hope follow up drilling finds a really good resource for AUR to hang it's hat on.

Best wishes.