Ann: Results of Meeting, page-7

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02/06/18

13:17

Post #: 33450790
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Originally posted by mike999 ↑

I was there Bitzer. About a dozen people in attendance. Disappointing that Matt wasn't there.

basically the update was:

- it was acknowledged the communication to the market in the past was not frequent enough and was difficult to truly understand where drilling was being conducted and where targets were. A commitment was given to increase the frequency of updates and provide more details on activities and locations.

- we should have been drilling again by now however the drilling contractor suffered an event that delayed them. Rigs should be on site for us any day now. We have sufficient cash on hand to cover.

- we will need to raise capital in the future however the board is well aware of the dilution this would cause at current price. They are looking to monetise some of our assets in the short term but no details could be provided at this time.

- they are looking to employ further on the ground expertise. More details to come shortly.

I walked away from the meeting with a renewed confidence. Our neighbours have had some great success and we have only drilled very shallow. The next round of drilling will be far deeper (similar levels to where the neighbours got results) which hopefully will provide the data to get us moving.

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Isn't their Malcolm ground has got proven resource that they can take it to production to raise fund with out much dilution? That would be ideal but Matt has done a lot for Rand & Tribune, so I wouldn't be surprised they will fund Matt all the way on top of their recent 10c placements.

TNR Price at posting: 5.1¢ Sentiment: Buy Disclosure: Held
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Ann: Results of Meeting, page-7

Top Stories

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Tambourah chases gold veins and mineralisation extension with drilling

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

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