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Trigon Metals Inc V.TM

Alternate Symbol(s):  PNTZD

Trigon Metals Inc. is a Canada-based exploration and development company. The Company is focused on copper and silver holdings in mine-friendly African jurisdictions. The Company has operations in Namibia and Morocco. In Namibia, it holds an 80% interest in five mining licenses in the Otavi Mountainlands, an area of Namibia generally recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the producing Kombat Mine. In Morocco, it is the holder of the Silver Hill and Addana projects, highly prospective copper and silver exploration projects. The Silver Hill is a 16 square kilometers (km2) property located in the Anti-Atlas region. The Kombat Mine is located in the Otavi Mountainland on the Northern Platform Margin of the Damara Orogenic Belt. Its Kalahari Copperbelt Project includes a substantial land package in Namibia with primary Exclusive Prospecting Licenses (EPLs) covering 280 km along the strike of the Kalahari Copper Belt.


TSXV:TM - Post by User

Post by Red_Deeron Nov 28, 2022 4:05am
240 Views
Post# 35133021

September 30th Quarterly Financial Report,,,,,,,,,,,,,,,

September 30th Quarterly Financial Report,,,,,,,,,,,,,,,Financials just reported on SEDAR__and they generally are consistent with the Year Low
share prices we have seen the past month.

Without the SPROTT $$$$ recently announced, it seems that Trigon would be in a VERY DIRE financial Going Concern situation__with hardly any cash left at end of September

Most NoteWorthy was that Trigon reported for the 6 Month Period ending September 30th Total
pre-production Revenues of $807,971__BUT it Cost $1,322,635 to mine and produce the copper concentrates from the Open Pit Contract mining.

Simply put with copper concentrates at Less than 20%__such concentrates will remain UNECONOMIC and thus putting the mine into Care and Maintenance Mode last August was
likely the correct move.

One other figure that jumps out is the ONGOING large expenditures on "Consulting Fees"__to the 
tune of 1,010,984 for the 6 Month Period ending September 30th__which by itself ATE UP almost
all of the 6 month Revenues.
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