RE:Really Hate to say It …..ButThe illusion is always more beautiful than the reality. I took a close look at the July presentation on the TM website. They have $23 million cash and no debt. They have 200 million share O/S and warrants of 67.7 million., 8.8 million options for a total fully diluted of 276.5 million shares. Now, I take note of your comments with respect to the share price going forward. As a consequence, the warrants that fall due on September 24, 2023, September 7, 2023, February 7, 2024, February 16, 2024, March 14, 2024 and April 27, 2024 will not be exercised. This means that 37, 479, 276 warrants can be subtracted from the fully diluted count which leaves 239 million shares fully diluted. This may be a case of addition by subtraction, or is it the other way around.
TM has provided guidance of 200,000 # of Cu in 2023 at cost that is above what it costs to produce this Cu. In 2024, their guidance is for 4,425,000 # of Cu at a cash cost of $3.82. No mony thare. In 2025, their guidance is 22,000,000 at a cash cost of $2.50. There will be some money. We must remember that TM is only entitled to 75%. So really, we are talking about a possible 16,500,000 # of Cu. At $4 cu that translates to $24, 750,000.
What the SP will be going forward is anyone's guess, given the uncertainty of what the dilution factor will be at some point in 2024.