I am unhappy with the current share price also
I think some of the above criticism is fair enough, particularly relating to the way the Co presents/promotes. Sullivan is a very good geologist but the corporate side is probably not his strong suit !
However, I do think that the land position accumulated by TNR is of outstanding quality and has been acquired very cheaply.
It is a lot of land for a small cap to manage and explore/test and of course that requires capital. Perhaps there could be more focus on farming out some of the tenements?
TNR has done well to negotiate with drillers to be paid in part with paper.
In the last year TNR has completed the merger with Cascade, drilled 50,000+m, raised a few million $$$ and is currently drilling a 30,000m programme. That's a reasonable level of activity for a small Co imo.
With the merger bedded down the Co now needs to focus its strategic efforts on commercialising some of these assets both via the drill bit and exploring corporate options such as j/v's to share the exploration costs going forward. Releases by the Co suggest that these discussions are ongoing
TNR Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held