From an outsiderJust a few thoughts from an ex shareholder that maybe some might appreciate.
I was a committed shareholder for a few yrs during the last copper bull market
and finally decided to throw in the towel. I don't want to trash TKO as it still has
great potential and probably will be a much bigger deal at some point down the
road.
What had frustrated me was actions like mgmt's decision to do a financing way
below market and despite high copper prices, never being able to pay down debt.
That plus the endless delays in getting Florence permitted. Florence was and is
critical to the future survival of the company and certainly their ticket out of Gibralter.
While the permitting delays were not TKO's doing, it cost them in terms of time
but more importantly. money. Florence was and is their future. It's their flagship
and would be cash cow. Selling off a portion of it to me is very disappointing and
not what should have been necessary. That's what those delays cost them. They
lost opportunity to advance Florence during a good copper market and then had to
endure a lengthy bear market at the same time grades were declining. At the end
of the day, just too many obstacles for me.
I hope it all works out for those who have the time and the patience to wait it out.
Being an old guy now, I don't have the yrs left I think it will take but that's just me.
Best of luck with Florence and those committed investors who get the opportunity
to cash in.
MS