TUL – Tulla Resources

You still following TUL @noirua ? (If I have any of the below incorrect, please let me know)

I’ve always held PNR Shares since the BNR days and never really given too much consideration to owning Tulla

After today’s Announcement re the further upgrade at “Scotia” i suspect I should be backing both these “horses” each way

TUL Market Cap around $88 million

They have + $50 million in cash to fund their share of Norseman into Production

And they own 7% of Pantoro = close to $20 million

Pantoro of course have Halls Creek to produce cash in the short term but their Market Cap is over $300 million

Construction of the Plant is happening with first Production set down for the middle of next year

I wouldn’t call it a disparity, but TUL looks under valued at the above numbers, plus the Top 20 S/H’s own over 90%

Food for thought methunks :bored:

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