I appreciate that there has been a great deal of negativity towards TAM and its management and major shareholder. Perhaps with very good reasons, however any reasonable assessment has the SP fully punished by any measure. The current share price does represent a great speculative buying opportunity though. The $3M drilling program is under way. Prior to mothballing Coyote, the company undertook a study for Kavanagh that was at 100,000 ounces at high grade but there was a lot of drilling which was not assayed. The ore body was open in all directions and the other side of the "saddle" had not been tested. Given the previous grades, the final drilling which was undertaken by TAM was not assayed - they were just following visible gold. This core will be front of the que and contains significant visible gold so could be north of 1 ounce per tonne. It will not be hard to increase the size of Kavanagh with the new drilling, but the old drilling may even be 2-3 ounce per tonne based on the visible gold. Are we all that cynical to think that the share price wont move when this is announced? I am hurting like all holders are. I managed to average down to 11 cents but TAM is still my worst performer of the last 18 months. I am back buying today because these first assays must be less than a month away. Do your own research, but I figure the drillers will start to leak more visible results so if you see the price move, it could be a good chance to recover as the day traders pile in. Now before everyone starts with the conspiracies of poor management and the chinese shareholder you should consider that no law abiding board with Australian citizens on it is going to behave in that way regardless of who the main shareholder is. Fixing the perception of poor management will rapidly turn around with some results and recovery in the share price can only follow from these levels.
TAM Price at posting:
4.0¢ Sentiment: ST Buy Disclosure: Held
