Ann: Beer and Co Research Report-TMZ.AX, page-2

Beers + Co focus only on the Tin but don't cite any share price targets Guess they await a first JORC resource, but even so spec buy at 3.5 should come with a near term target 15-20 for mine.

Report indicates 10-15,000 tonnes contained tin target so lets say 10 years project 1000 tpa contained tin in concentrates only, simple gravity separation, likely 50 mill capex, 2 year payback ? That's a conservative start, thereafter abt AUD 15 mill pa earnings maybe? There's a buck a share on that progressively.
Don't think they will stop there in tin inventory or production expansion though. That's certainly a super fund investment for a new resources cycle from current 3.5 mill market cap.

But what about the precious wildcats looking ahead They have a lot of the ex CMR NSW assets which CMR were very keen on but forced to divest in their debacle demise after only some exciting blind scratches. Noted geo and then MD of CMR was very excited on the initial hits under blind cover. That's what I originally picked TMZ for and the Tin is certainly a bonus company maker. But I am keenly watching for follow up drilling to those NSW gold-base metal elephant plays coming up and which the NSW government will be funding, cos it only takes one DDH hit on target and we might have another SIR style result here.

Exciting golden wildcats coming off a solid company maker Tin base. High reward / low risk play with solid base for mine. Technically, once it takes iout the 6.0 PP shld quickly move into double figures for next base creation. Mid term target for mine, up to a buck depending on dilution.

IMOOC