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Is this the worse share ever ? 10 for a penny ? 5 years I have been sat in this with endless empty promises from the board , fact is this share is going no where . This to me is a total loss .
MANAGING DIRECTORâS STATEMENT
Dear Shareholder,
During the half year to December 2023, the Company worked closely with interested parties to secure a farm-out agreement on the Specimen Hill project tenements and the team also spent significant time on research and in-country evaluation of opportunities in the Ashanti goldfields in Ghana.
We completed a farm-out agreement, as previously announced, with ASX listed White Energy Pty Ltd. White Energy is the development vehicle of a very successful resources investment and development team in Australia. They have taken over the Specimen Hill project area with a focus on the copper mineralisation rediscovered by Tectonic over the last 5 years. White Energy is investing in the transition to renewables and the looming shortage of copper to enable the move to a lower carbon economy with electric vehicles.
The terms of the farm-out agreement provide for a staged acquisition of the project by White Energy, a $2 million payment to Tectonic and Tectonic holding a 3% royalty on any future mineral sales from the project area.
Our investment alongside London listed Kazera Global Investments Plc (âKazeraâ) (LSE:KZG) in the Heavy Mineral Sands and Diamond projects in South Africa waiting on approval from the South African National Nuclear Regulator ("NNR") for final permitting. Kazera has advised that the decision is expected by the end of April 2024 with operations to commence immediately thereafter.
Independent studies conducted for Kazera valued this project at ÂŁ150 million. Tectonic holds a non-diluting 10% interest in the project and a further 30% economic interest via a sale and loan agreement with a Black Economic Empowerment (BEE) consortium to bring them in as partners on the project.
Tectonic is in ongoing discussions with gold mining project owners in Ghana. We have identified an attractive acquisition target and approached the parties controlling the mine to buy it. We have also identified potential investors in Ghana who have an appetite to fund the acquisition in a UK listed company and provide working capital to bring the mine into profitable production.
The team continues to evaluate other opportunities that are being presented and securing a suitable transaction for the Company will be the focus for the remainder of the year.
We received approval from the Australian Federal Government earlier this month for Signature Goldâs 2023 project work to be included in the Research and Development funding program and we are working with our accountants to complete the submission for our cash refund. Initial estimates are that it will be circa A$150,000.
https://www.londonstockexchange.com/news-article/market-news/interims-for-period-ended-31-december-2023/16404709
Tectonic Gold plc (TDIM: TTAU) has experienced a delay in filing our group consolidated interim financial statements for the period ending 31 December 2023. This delay is attributed to an unforeseen disruption caused by the relocation of our Australian office, which temporarily interrupted access to our systems over the past week.
We are pleased to announce that the office move has now been successfully completed. Our team is diligently working to finalize the consolidation of accounts and we anticipate completion early next week, following the Easter break.
In addition to the interim financials, we will be providing a comprehensive corporate update. This will include progress updates on the Specimen Hill project farm out, details regarding the submission and approval of the 2023 Australian Federal Government R&D refund claim, and insights into our ongoing joint venture activities.
https://www.londonstockexchange.com/news-article/market-news/delay-in-publication-of-interims/16402236
Hot Tectonic shares, Hot Tectonic shares - one a penny! ten a penny! Hot Tectonic shares!!
Https://666e6ee8-31af-4e4f-9a0d-6a192f414444.usrfiles.com/ugd/666e6e_3213d104899440acba44450b4c013615.pdf
Mr. Brett Boynton, Managing Director â Tectonic Gold Plc
âWe are very pleased to be partnering with the exceptional team at White Energy. They share
Tectonicâs deep tech approach and are the perfect partner to take our Specimen Hill
discoveries into resource definition.
The royalty enables our shareholders to retain meaningful the long term upside in the
discoveries Tectonic has made at Specimen Hill while White Energy steps in to take over
operations and assume ongoing financial responsibility.
It has been a long journey since we first acquired the initial ground at Specimen Hill and this
is a good result and proof our original exploration thesis had merit. We still hold the Mt Cassidy
project area to the north of Specimen Hill which the Queensland Government has waived
license fees on so we have time to consider development options.
I would like to congratulate the team for taking this project from concept to discovery and
successful transaction. They are now freed up to focus on other opportunities which we have
been working up over the last six months and look forward to sharing in due course.â
Finally life in the old dog! Baby steps but something to build on
Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02770380-2A1503785
CHAIRMANâS REPORT
Dear Shareholders,
The year ended 30 June 2023 saw us return to complete another round of field work and drilling on our flagship Specimen Hill project in Queensland. This work enabled us to present to potential development partners a substantial database of the large-scale mineralised system that we have identified and tested over the last few field seasons. As per a previous market release, I am pleased to report that ASX listed White Energy Ltd (âEnergyâ) is continuing to test and validate the copper gold potential of the mineralised system, under an exclusivity agreement. White Energyâs leadership are very successful campaigners in Queensland and they have a strong investor base behind them.
Tectonic were invited during the year to advise a leading Ghanaian family office on strategy for advancing a portfolio of tenements in the Ashanti gold fields in Ghana. This work includes preparing the portfolio for a listing on the London Stock Exchange. Extensive technical reviews were conducted in the June 2023 quarter, followed by a site visit and in person strategy planning with the group. Tectonic is currently evaluating M&A opportunities on behalf of the group in an effort to accelerate portfolio completion ahead of a listing. We are also evaluating the potential for a dual listing in Ghana to take advantage of the in-country investor demand. The working assumption at this stage is that Tectonic will be the vehicle to take the consolidated portfolio to market in London to crystalise the value of our input with a carried interest in the portfolio for Tectonic shareholders.
Our âDeep Blueâ and âWhale Headâ diamond and heavy minerals investments in South Africa, managed by Kazera Global Plc (âKazeraâ), took a very interesting turn this year. Elevated radioactivity readings from the presence of highly desirable monazite in the rare earths component of the ore required special permitting be obtained. Monazite, a significant source of rare earth metals such as cerium, lanthanum, and neodymium and is in high demand in high-tech industries such as electronics, renewable energy, and electric vehicles. While the additional regulatory hurdles are a minor hindrance, the long-term commercial value of the project is enhanced with this outcome.
Once again, thank you to all of our shareholders and stakeholders who have supported us over the last year. We have made significant progress on a number of fronts with no dilution to shareholders and the year ahead presents excellent opportunities across our current portfolio and with a number of other opportunities being presented to us.
Full report: https://www.londonstockexchange.com/news-article/market-news/tectonic-gold-financial-report-for-the-year-ended-30-june-2023/16262698
Same here, about time for some upward movement in share price
Accounts are due this month. Hopefully we will hear more about the Specimen Hill farm-out to Fiddlers Creek/White Energy. There has been no announcement on the farm-out from White Energy, but they have just raised 2.9m AUD before costs.
It would be nice to hear from Brett, it's been a while.
Janalan-I am talking before we see 2024. Specimen Hill is too good an asset to be left on the shelf coupled with the knowledge and negotiating skill of Brett and the board I feel they will strike a deal one way or another sometime soon.
The directors here are seasoned professionals and I believe honourable people, they WILL deliver imo.
Vidaloca - as an investor I love your confidence - that's just how it should be. BTW - Which year end would you be talking about??
Completely disagree with that last one, just because the stock loses value or even goes bust does not mean that your holding is not an investment.
I have been in this stock since the first day of trading, I have done my research on the company, the assets and the board and on that basis I have built a very substantial holding.
The journey so far has been frustrating and drawn out beyond belief but having said that my faith in this company is still as strong as it has ever been and I am convinced that it will deliver on several fronts.
We are very much alive and once the first deal appears we will go from strength to strength, and I truly believe that will be before year end.
Tapman - my take on where you have gone astray! - firstly, calling this an investment. Companies like this are a pure punt. Nothing more, nothing less. Call your own odds 100/1, 1000/1, 10000/1. You'd have as much chance buying a copy of the Racing Post and using a pin with your eyes closed. Whatever you stick it in, have a punt, even if it's a three legged donkey. Every dog has it's day and so does every horse. The name Foinavon comes to mind. This could be a three legged donkey or with a lot of luck, a Foinavon, but it's never gonna be a Red Rum. I'm quite heavily punting in here, so let's all hope it's a Foinavon. Good luck all!! P S - by the way, I never bet on the horses, far too risky!!
What has TTAU done with my money? What's happened to my investment? TTAU said/claimed/expected it would bring forth positive returns. Am I looking though the wrong eyepiece? I can only see negatives!
Please tell me where I have gone astray.
Not a whisper, not a sniff of anything untoward. Perhaps you were right the other day when you questioned 'why no news?'
But hey, we are just the bag carriers
Not quite, micksnags1, but getting there. Where have all those wonderful exponents of this wonderful company wandered - I wonder!
Wonderful , now completely wiped out
we're just stuck waiting for news, which is very sp**** in coming
Not many of us left janalan. Would sure be good to get some news that reverses the downward trend. Could be a few months of waiting yet though.
Be good to get another update, particularly from Specimen Hill.
Any possible revenue from Whale Head Minerals pushed back until at least Q1 2024.
Hi Guys - anybody there??
Is it tomorrow yet??
Come on Brett - been here for years - got me toast at the ready - where's me Jam??
I wish it hadnt taken this long to show evidence of progress...but I think Brett is making progress. Basically we have a situation which doesn't need further funding but has 3 routes to to generating shareholder value - Speciman Hill, Whalehead and new today Ghana. 3 bites of the cherry , no cash required and just a ÂŁ3m market cap. Nice set up.
Mr. Brett Boynton, Managing Director â Tectonic Gold Plc
âThe team is really encouraged by the recognition for what we have achieved in our research in Australia over the last five years. The Fiddlers Creek endorsement is validation of Tectonicsâ courage to pioneer new ideas in exploration and winning the role with Optimus is a Company changing opportunity to take all of that experience into one of the premier gold belts in the world.
Tectonic is still deeply entrenched in research in Australia and is now exporting that expertise to Ghana, with a strong in-country partner who has a genuine desire, and the means, to see a new major gold play created. Ghana, like Australia, has a long and storied gold mining history. Tectonic is bringing expertise directly from the crucible of research and development in Australia, to be a part of the next generation of Ashanti mining stories.
Tectonic is actively reviewing opportunities where we can build a portfolio of holdings in high quality global gold projects.â