I note the other day that ASIC has brought charges against some of the Opes Prime directors. Nice to see, as it was the Opes Prime saga, and subsequent dumping of large quantities of TMX stock by ANZ, that was a key reason behind the anhilation of the TMX market capitalisation at a very promising time in its last drilling program at the Bundarra/BlackCat JV area.
The situation is markedly different this time around, with a very tightly held register that has not been loosened up by recent capital raisings as the capital has come from major shareholders. We've also seen recent director buying.
So this time around positive drilling results will not be smothered by a bank apathetically dumping stock to protect its own interests, with little interest or regard for the underlying business or shareholdhers being affected by their actions.
Recent gold price strength, combined with the fact that mining studies on several of the existing known deposits in the Bundarra area have already been completed, will help to enhance the value of any additional new discoveries or extensions to the resources at Bundarra.
TMX Price at posting:
7.4¢ Sentiment: LT Buy Disclosure: Held
