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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

Comment by schocoron Aug 21, 2020 4:54pm
138 Views
Post# 31440289

RE:RE:RE:Was Today a Price Correction

RE:RE:RE:Was Today a Price CorrectionWhat will happen to this stock with no buyers is your question; its tough to some up with much of an answer. On the one hand; its a rich gold mine in a good environment for gold. Clearly this is of interest to gold bugs; and there are more of them by the day it seems. A price north of $1.75 might make sense (this was 10X higher less than 5 years ago) On the other hand; I don't think this is a cash flow positive mine. Negative cash flow businesses are not an asset - they are an investment. If nobody wants to invest in it...it could be worth $0. Newmont gave up on this mine after investing $1b. Agnico eagle - with existing operations in Nunavut - wasn't an interested buyer. They have had mill and metallurgical problems since day 1; even after replacing the mill 6 or so years ago. Perhaps Doris is a tougher nut to crack, hence little to no interest.
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