I have been watching this one from a distance. My observation is...

I have been watching this one from a distance. My observation is that the share register has changed a lot recently. Shares have lost 70% of their value YTD, but so too have other companies. Confidence in the name has been battered by high costs/unprofitable production, inadequate technical control on reserves and mining (as evidenced by the closure of the open pit operations and dramatic changes to mine plans), and over optimistic management forecasts. Departure of the well regarded operating officer only added to concerns. The uncertainty now is how much cash the company has, and what progess is being made on mining more profitable ores. What would be re-assuring is for a timely update, as it has been almost 6 weeks from the end of the half year. TAM please provide an updated announcement to the ASX to show that the balance sheet and cashflow statement are ok. Or conversely, is an equity raising or a merger on the cards one must wonder? A disorderly market seems to have been developing in securities of this company.

Disclosure, no position, no view. Never advice.