Am I going to sit here and wait for TMX to become the next AVZ?...

Am I going to sit here and wait for TMX to become the next AVZ? Certainly not. Why? because I don' think it ever will be. Any how lets get back to TMX shall we.


So over the weekend I decided to go back an analyse the financials over the past 12 months for TMX, to me it looks like a bit of "history repeating" itself in many ways. At the end of the September quarter 2016, this was the financial position of TMX


http://terrainminerals.com.au/uploa...lease-QuarterlyActivitesandCashflowReport.pdf





A capital raise was then done in the December quarter as funds were low and there was no imminent cash flow.



http://terrainminerals.com.au/uploa...Release-CapitalRaisingandOptionsExercised.pdf




Now if we look at the financials from the last quarterly and see what position we will be in 34 days it is eerily similar.



http://terrainminerals.com.au/uploa...ase-QuarterlyActivitiesandCashflowReports.pdf




So in reality if TMX stays to budget then they will have $498K left in 34 days. Which is 1K worse than the exact same position last year as shown above.


Considering the share price is trading at a 11% discount to the same time last year as shown below, but with more shares on issue now I really question if another raise could be imminent like it was last year.





Financially, is this a position of history repeating itself? Further dilution to shareholders is not whats needed in my view, value add is needed in many ways.