It was more than obvious we needed a CR due to quickly depleating funds. At IPO the brief stated that they had sufficient funds to complete a 2 year exploration program, yet here we are short of that two years and TRT asking for a handout which they obviously got. Of course sophs jumped at the opportunity to buy for less than half of the IPO, we’ve lost >55% value so far.
Actually TRT needed the CR or the ATO May have shut them down for trading insolvent. With no real income stream and just money out the door, TRT May have been shut down by the end of this year. This just buys TRT a bit more time, but they really need to start selling some assets.
TRT Price at posting:
9.4¢ Sentiment: Hold Disclosure: Held