Was looking back at some presentations by TYX.
How quickly focus can change.
Just over 18 mths ago Sydney presentation by MD he said " we are all about the The Jumbuck Gold Project". 398m Shares on Issue. JORC 220k OZ. Cash and serious commitment from AGS major shareholder to TYX cause! 49% of Weednanna JV with AGS and spectacular hits. Stated as part of the WPG Jumbuck JV agreement can toll treat through Challenger and that they want to make a major gold discovery. They had a resource focus of 500oz and appeared well on the way with about 7 primary deposit being targeted. Every announcement return good results and with continued drilling maybe some deep drilling at these may have achieved what they had stated was their intent. (Also why I continued to invest and in a large way).
Not long after this they changed direction and focused on WA and then USA and with problems with each agreement which critically lost time and cash. The Eureka project was sold to shareholders that it would generate cash for Jumbuck ... but then they wanted to enter into the Battery Space (LOL) and committed to Goodsprings.
Just over 18mths and almost 941m shares on issue. 0% of Weednanna. Now 3rd March 2019 a small JORC low grade at Eureka and not one mention of mining it but plenty of talk about exploring around and below it!!!! Goodspring no firm commitment to drilling at all. Millions of $$$ wasted and major dilution with not one of these other 2 projects even remotely having a chance to return cash. Just to add to that OGX and KAI have sunk to almost nothing.
My point to posting this is that for along time I was a supporter but on the basis TYX continually dropped the idea that Jumbuck was the flagship project and so on and so forth. My mistake was not to get out the moment they took on other projects.
Does anyone else believe that TYX can make any of these projects work and if so how? I would like to support them again and see the Jumbuck area have operating GOLD mines again but currently there is no way to support TYX at this point unless clear direction and focus again. Does the MD need to come clean and truly and honestly present the way forward for TYX. Any thoughts on the above appreciated.
Screen shot below Sydney conference May 2017 video on youtube!
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