Given the company's history, I would say a capital raising coming soon.
They tend to occur just before major exploration/acquisition announcements, that haven't necessarily ended up as positive outcomes (has anything gone right for this mob?).
The massive after market buy yesterday was just a little suss?? Why not buy during the day and entice sellers at lower prices?
$1.425 mill in the bank at the end of the last quarter, with $650k expected spending (before the announcement to fracc and test their last drill hole).
Market cap $11 mill.
The math is pretty simple.
They have reasonable prospects (in my opinion), but need a lot to go right.
The share price is being played beautifully, so it may well entice a short term run, but I should disclose that every time I've touched this company it has caused financial pain, so I may be bias to the downside so this time I'll wait for actual news.
Milesy
TNP Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
