Its a nice post fishfinder and I will give you a positve for it.
Today I sold the last of my shares in TMX, that's about 1.8 million over the last month. For several years I was CEO of a Canadian public company who discovered about 3 million oz of gold at 1.65 g/t and am still a consultant to them. I learnt that grade is everything. I recall a presentation given by Barrick, then the worlds largest gold miner, bottom line is that he said "grade is everything and Barrick will always be in the bottom quartile" .
The problem I see with TMX is that of grade the presence of an exisiting open pit. I don't doubt that TMX will make money but how will shareholders benefit from that money? I doubt whether it will be from dividends.
I think the best strength of TMX is Keith Wells. He is one of the few people running junior exploration companies who is scrupulouly honest. I think he is an excellent geologist, he is not a promoter and so what you read can be taken as the truth. He would be a superb technical director.
Anyway to the guys who bought my shares good luck to you. I put the funds into ADN who I believe have big potential in both the short and long term, and, unlike TMX, have the appropriate balance of Directors for a junior exploration company.
TMX Price at posting:
7.1¢ Sentiment: None Disclosure: Not Held
