Thanks Py. You could be right. I do believe that there is upside for the day traders here though because of the pending resource upgrade. I am not as confident that it will settle back to 2.5 cents. The company has cut as much as it can with the final round of redundancies. They are well prepared to now sit out the 6 months that any development work will take if it is approved. There is of course the danger of another CR if Allied wont fund it. If the resource upgrade is beyond 150k tonnes, then I think there will be a real upside here because of the high grade. One very major benefit for TAM if they commit to the development of Kavanagh will be that once they are closer to the K1 and K2 Lodes, they can more efficiently conduct a drill program to extend these. At the moment there is 300-400m ($15k to $20K) per hole of dead drilling from surface. There is the very real prospect of other deeper shells in the Kavanagh fold with other lodes below the K1 and K2 lodes. Beyond that, if TAM can jag some decent oxide satellite tonnes from their prospective tenement position then this will dramatically improve the profitability of a recommissioned Coyote CIP plant.
And if Brett Montgomery actually confirms himself as MD or CEO and does a road show and communicates with the market I think you could see the stock up at 10 cents with support!
Again, do your own research and form your own opinion. If it does drop back to 2.5 cents I will be in there buying myself.
TAM Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
