Spoke with Karen at Temex
Called Karen (Rees, I believe), at 4:45 today. Following is a summary of the call.
M Partners let them know that about 6 million shares were crossed between two different funds today. Ian, the Pres and CEO will be looking further into this. Often there are trades using anonymous, so difficult even for them to find out what is going on. She said that at least this did not cause a drop in the share price. She noted that sometimes funds need to 'reallocate' or sell certain holdings and that if anything, it was good that a fund wanted all the shares that were offered.
I asked if there was any imminent bad news and she said 'no - definitely not'.
Discussed their funding and she indicated that they took advantage of a charity flow-through(?) to obtain the funding in March. She said they have enough funding for about 2 1/2 years at current pace. They are really focused on getting to the permitting phase so they can start a small open pit operation which will in turn fund more development.
I asked about Goldcorp's role and she said that G did not participate in recent funding primarily due to their cost cutting initiatives which included layoffs at G. G had stopped all discretionary spending. That must be why G did so well on reining in costs for their first quarter results. Given the "persistent market nastiness", TME is going to be careful with their spending going forward. While Goldcorp has not participated in recent funding, they still meet regularly on the joint venture committee and Goldcorp actively assists TME with environmental permitting and something about 'brown fields' (?).
She said TME always welcomes calls from its investors. I would encourage others on this board to do so and report back.