IKN Nerve Centre has had three separate mailers asking about Tinka Resources (TK.v) this morning, with the new drill results assay and the price action on the menu. So to be lazy, here’s the short note about TK that appeared in IKN435 yesterday evening:
Resources (TK.v): TK is still bouncing around in the 55c to 60c trading
range, no real push in either direction. During the analysis of TK’s 2q17
financials in IKN432 dated August 27th I wrote this section:
“…at the current burn
rate TK is going to get low on treasury soon and as it has a clear pattern of
not letting cash/working cap go below $2m, I think it’s a safe bet to say that
we’re going to get a placement announcement from TK.v soon.
“The way TK has stuck
around 60c has been indicative of the price the market is willing to pay for
the next round of financing. I’d welcome a raise at current levels with open
arms (and I’m aware that the company has had plenty of interest from brokerages
about its next placement) and the company needs to be congratulated, but it
also means that we shouldn’t expect too much in the way of share price upside
until the process is complete.”
That fits with what we’ve seen
since then. In other news, Congratulations to CEO Graham Carman for winning the
2017 Mining Journal “Explorer of the Year” award (12).
Finally, I hear that we can expect a NR on the
latest drill assay results in the week ahead. Oh, nicely timed for Beaver Creek
and Perumin! Who would have thought…
And yup, right on time, we had that drill assay number today. Pretty good too, it’s just that the market is used to seeing good numbers from Ayawilca.