Bullboard - Stock Discussion Forum TMAC Resources Inc. T.TMR

Metals & Mining Industrial Metals & Minerals

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... see more

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TMAC Resources Inc. > Government of Canada rejects sale

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Post by riverrrow on Dec 21, 2020 9:20pm

Government of Canada rejects sale

Deal is off. Lots of cash on hand but not enough to repay maturing debt in June. https://www.businesswire.com/news/home/20201221005788/en/Government-of-Canada-Rejects-TMAC-Sale-to-Shandong-Gold-Mining-Co.-Ltd.

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Comment by redcoats on Dec 21, 2020 9:33pm

Finally a bit of sanity. Now I hope gold prices continue up, and management gets down to finding economically viable solutions to long term survival and profitability. Looks like they've already been doing it, if they don't get caught in the time crunch. One very, very, positive side effect, is that they certainly have the governments attention, so perhaps they also have it's ear for ...more

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TMAC Resources Inc.