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TMAC Resources Inc. T.TMR

TMAC Resources Inc is an industrial metals and materials company. The business acquires, explores, and evaluates mineral properties. Its lone business segment is Mining; this segment is engaged in the exploration and development of precious metal resources, primarily gold. The company generates the vast majority of its revenue in Canada. TMAC Resources' primary mine is located in Hope Bay, in the Kitikmeot region of the western Nunavut Territory. TMAC mines for gold resources and inferred minera


TSX:TMR - Post by User

Post by Shermandrock1on Jun 15, 2018 8:35am
134 Views
Post# 28176620

Some unabashed pumping folks.

Some unabashed pumping folks.1) Recoveries: Recoveries increased to 83% in May from 76% in April, an increase of 9.2%. Looks like the folks that they recently hired are having a positive effect. The primary driver seems to be the Falcon unit installed in April. The good news is, as was pointed out by another poster here, is that the installed unit is the smallest of the Falcon line. TMAC has suggested that each line would see installed a more "robust" Falcon unit that was on order. Seems logical that another unit would translate into more gold recovery. Sooooooooo......83% recovery is 90.2% [ 83/92 ] of planned. Jason is optimistic that continued "fine tuning" will bring the recoveries where they expected them to be. Time will tell. 2) CL2 is now operating. How about that folks. 3) The "fuel" deal and "bond VS cash" collateral deal will free up appx $20M (temporary as fuel is consumed) plus $25M (permanent in exchange for annual premium). That should free up some cash for the $39M bullet payment due 1/1/2019. The paydown of this amount will save $2.9M annually or $725K quarterly. 4) Continued drilling found some gold at both Doris and Madrid. Doris, IMO, is the best news. Some nice high grades there and close to the mill. 5) Yep, there is/was a lot to like in those PRs. One has to admit that there has been considerable progress in a short period of time. 6) Thank you TMAC folks......now get back to work please.
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