Thanks for your posts, exCorporate. Although I share your enthusiasm for TAM, I sold my holding when the SP dropped to $1, mainly because I needed some cash for another stock, and I thought that TAM might go lower. However, I'm very happy to have been able to buy back in at 79.5 cents, and I agree with you that the future of the company looks very promising.
I recall that somebody posting on TAM recently was comparing TAM's production costs unfavourably with RMS. Although RMS are now a proven low-cost, high-grade producer, I can recall a couple of years ago when RMS were doing battle with Avoca to take over Dioro, it was a different story. I held shares in all three companies, and as far as I can recall, RMS were producing at a rate of just under 4g/t and a cost of almost $1,000 per ounce.
TAM have been expending substantial sums on exploration and development, and such expenditure targeted at locating high-grade ore and upgrading plant and equipment is something which which all miners have to contend with before achieving optimum steady-state profitable production.
I believe that 2012 will see a substantial improvement in all aspects of TAM's performance, and 2013 should be even better.
Cheers,
Mike
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1 | 33000 | 0.036 |
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Price($) | Vol. | No. |
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