I would be more concerned at the lack of activity if I had decent money in TMX, rather than it just being an underpriced speccie for me.
But that not withstanding, I would like to address the idea that "the number one goal during the last 12-18 months was to stay alive".
I understand that it is unwise to burn cash fast in an environment in which raising it is difficult. But TMX has had a line of credit for quite some time now, and should've had drill-ready targets ready to go for when this line of credit was received. And whilst drilling was a bargain.
The number one goal of a small miner is not to 'stay alive' - that sounds like the number one goal of someone is IS ON THE PAYROLL of a small miner. (no specific implication here, btw).
For me, the number one goal of a small miner is to get out their and drill the hell out of the ground. Drill - raise cash - drill - raise cash. If the ground if good, they will get results, and can raise money against a higher share price.
Investors in small miners understand the game - that these are speculative investments. No one criticises a junior for having a fair dinkum go, and not finding anything economic.
What ires shareholders the most is inaction.
As I said on another thread, a junior who is not drilling has no 'raison d'etre'. They are just existing to pay salaries.
We will see what happens this quarter.
Y
TMX Price at posting:
4.7¢ Sentiment: Hold Disclosure: Held
