Q: Thoughts please on TLG.
Thanks
Rob
Thanks
Rob
5i Research Answer:
TLG is up 7% YTD but down 41% in the past year. Market cap is $123M, insiders own 5%, Equinox Partners owns 19.3%. It has $29M cash (not including a recent $6M raise), but as a developer has no revenue, losses and negative cash flow. Cash burn was $18M in the last 12 months. Its Troilus copper/gold project in Quebec is well underway, with engineering, permitting and early works planned this year. There will be a mine here, but time is still needed. We would consider it a good project overall, but there are still plenty of risks, and we would give the stock just an 'ok' rating.