Good evening Artie, Vaughn, JP, TeeVee, WillP, geoffb_si, Russett, Chuck, ValuePro, Don Jackson, gervais comeau, Jordan Levitt, Bill, Bob Fairchild, Hunterbob, Frank Famularo, Mark S. Schroeder:
We gotta go back to Leo Raftis on July 1, 2001 to find a new poster here on TWG’s SI site!
I will admit I haven’t got back to the annual report in the way I intended. There have been some interesting comments though, aside what we here at SI have said:
From GGU:
stockhouse.com.
Twin's working capital decreased from $ 6.9m at the end of 2000 to $ 1.9m at the end of last year.
OneEyes response:
stockhouse.com.
Current cash should be good till late fall/winter and management will only spend money they have.
Joles comments:
stockhouse.com.
The management must be sure that JI has the goods. Near the bottom of page 4, 2001 annual report. "The positive results have prompted the the planing of a 3 year exploration program with a projected cost of $37,000,000"
This means issueing additional shares (dilution ah!ah!)
2,000,000 shares at $2.50 = $5,000,000 May 2002
2,000,000 shares at $5.00 = $10,000,000 May 2003
2,000.000 shares at $11.00= $22,000,000 May 2004
Gfortiers comments on the annual report:
stockhouse.com.
2. The annual report says that for year 2002, and "contigent on results of the six mini-bulk samples from the Jackson inlet property totalling 228 dry tons, and the nine 300kg samples from TORNGAT North, the Corporation plans to advance both the Jackson Inlet and TORNGAT properties."
Artie:
The essence of TWG is spelled out in the MD&A (p.13) and the Notes to the Financial Statements. Both are free from bafflegab and euphemisms. It is interesting to compare the first paragraph of the MD&A with the first paragraph of "The Breakthrough Year" (inside front cover), they say the same thing without the spin of the latter.
Letmebe Frank, parting thoughts:
I thought Torngat was history. I have wrote it off. there certainly is no premium in the current share price to reflect it.
I wish I could spend more time here, but I gotta go. Take care, be good, and be prosperous. Out. |
