TOE Bouncing up from Double Bottom, page-6

There is no indication on how and when TOE will take Wiluna to production, so as the spot prices slowly ticks its way up heading into 2020, its the junior producers who will show the most upside.

But again, we dont have any guidance on when or how production will come from Wiluna, JV partners? project financing? equity dilution?

either way, its a long close your eyes and lock away the key type of hold on TOE. I dont foresee their cash cost of production per pound being anywhere near as competitive as other producers such as PEN, BKY or PDN. t