Had a look at TAM's last ann yesterday, then took a look at a few of the posts today, not looking so good here, no offence intended. However, when I see a situation where assets are on sale at cents in the dollar then I like to look at the possibilities. NST's Paulson's mine was in care and maintenance when they made a 40 million dollar investment to buy it, now it's worth about 500 mill with around 61 million in cash and bullion in the bank, and another div on the way. Another example is a little known company called UOS, SP was at 0.30 cents not that long ago, it's now 0.57 cents and climbing, the remarkable thing is that it's SP is still well under it's NTA / book value. The kicker is the cash on hand, not pushing stocks just using them as examples of looking past the gloom and doom.
U/G production shows grades of 7.9g/t, O/pit is 2.7g/t with recoveries at 98.8% Sounds ok to me so far, with Kavanagh having 122'000 tonnes @25.2g/t gold the story suddenly gets interesting. Commsec shows a book value of 0.26 cents and NTA of 0.30 cents per share and MC of 32.9 million, I'm starting to take more notice. What do you think the plant would be worth on it's own? I figure more than 30 mill.
If you believe like me that POG will move to the upside at some point, just wish I knew when, then I see like you "once this gets sorted out, the SP will be a lot, lot higher. Hope that it works out well for all holders.
For me it would seem the secret to making a dollar out of this, is working out how it's going to be resolved, merger, JV, T/O or someone puts up some cash. Not game to buy in yet, but I will keep an eye on developments and do some more research.
All the best....penrice
TAM Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
