TUC 0.00% 3.6¢ tuc resources limited

barramun

  1. 3,230 Posts.


    My thoughts...


    Its got 3M in cash a goodly number of granted tenements and some of the sexy areas prospective for mineralisation.
    With 58M shares on offer (currently market price of 12c) its fair value from an asset perspective for the next year or so if they get to spend some of that cash.

    Not necessarily a very exciting uranium play, in fact I see that start up exploration is focussed on base metals and gold. I dont think Franz Weber would be particularly supportive of exploration let alone mining at Bonrook.


    Having Ron Stanley around the company has a pretty good knowledge base on the Batchelor/Adelaide River region. EL24884 is close to his old stomping ground at the Winchester deposit and Sundance Mine.

    There's been a heap of "modern" exploration in the Adelaide River region, but thats not to say a bit of technology and a new set of eyes cant pick up a sniff or two from that group of tenements. Most of them are on the less "developed" western side of the highway, but then again that could be a hidden positive.

    Stick the Bauxite tenements in the very bottom drawer. The only buyer is Alcan or a Indigenous JV supplying Alcan, and thats 10 years away or more. Its worth developing into an agreement but not pinning your hat on to create short term value.

    My analogy would be that they've got the shotgun out and are going to shoot a little bit of cash at each of their projects to firm up some higher level leads. Once they do that, the future of the company will become clearer.

    If I was an inital invetor, would have taken the money and run at 50c. Its not going anywhere near that in the next three months without a good news program.

    cheers.




 
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