Australian (ASX) Stock Market Forum

TI1 - Tombador Iron

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Re: DVI - Disruptive Investment Group

On December 13th, 2013, Allied Consolidated Limited (ABQ) changed its name and ASX code to Disruptive Investment Group Limited (DVI).
 
On November 4th, 2016, Disruptive Investment Group Limited (DVI) changed its name and ASX code to iBuyNew Group Limited (IBN).
 
On January 9th, 2020, iBuyNew Group Limited (IBN) changed its name and ASX code to RESA Group Limited (RE1).
 
On September 28th, 2020, RESA Group Limited (RE1) changed its name and ASX code to Tombador Iron Limited (TI1).
 
Closed today at 0.071
A very recent placement at 0.079 raised $20 mill to ramp up production.
Chart looks ok considering the bumpy ride lately.
Not held.
I note the string of name changes above..... a very odd thread.

Screenshot_20210309-224638.png
 
frugal.rock said:
I note the string of name changes above..... a very odd thread.
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If at first you don't succeed, try and try again.

Nobody was engaged enough to post about any of them, which, seeing the temporary and transitory nature of the companies, was probably a good way to not lose capital.
 
Dona Ferentes said:
If at first you don't succeed, try and try again.

Nobody was engaged enough to post about any of them, which, seeing the temporary and transitory nature of the companies, was probably a good way to not lose capital.
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I also see the current high prices of iron a "temporary and transitory nature" but somewhat stable, however having said that, the chart doesn't look too bad as a speculative entry for another hit at 10 cents or a retrace to ~ 6 cents.
My :2twocents
 
Tombador Iron looking bullish after having its mining concession in Brazil granted late last month as well as positive sentiment flowing from the soaring iron ore price.

I'm not sure I'd want to be holding this for the long term but it's been a great trade for the last couple of weeks.

big.chart-TI1.gif
 
greggles said:
Tombador Iron looking bullish after having its mining concession in Brazil granted late last month as well as positive sentiment flowing from the soaring iron ore price.

I'm not sure I'd want to be holding this for the long term but it's been a great trade for the last couple of weeks.

View attachment 123881
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Good call not to hold. At 3.5 cents now. Really a shame these guys just started as iron began it's downward fall. This being 65%+ iron along with FEX and MGX are the only small cap iron shares worth keeping an eye on imho.

Their quarterly reports are pretty suspect with very little information is given and I'm not sure the reason. Nothing on production costs, revenue per tonne, shipping costs. Nothing. No information. They have said they would provide a forward estimate and schedule by next quarter.

Would like to know the details of the related party transactions. 72k in consulting fees? What for?
 
The Triangle said:
Good call not to hold. At 3.5 cents now. Really a shame these guys just started as iron began it's downward fall. This being 65%+ iron along with FEX and MGX are the only small cap iron shares worth keeping an eye on imho.
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Yes, the wheels have really fallen off Tombador Iron since my last post. It topped out at 11c before it all came crashing down. I struggle to see the potential here in the short term, even at current levels. The iron ore chart doesn't inspire any confidence. It's been absolute carnage since mid-July and I don't see it turning around anytime soon.

Too many risks with TI1 at the moment.
 
Above 65% Fe should be able to withstand quite a lot of pressure. However I can't for the life of me reconcile how they shipped about 138kt of 65% + iron ore and took in about $5.5 million... That's $40/tonne revenue? They said they didn't receive full payment for the last two shipments - so even dividing that number by 1/3 you get $120/tonne revenue. $120/tonne for 65% iron seems too low even after factoring shipping costs. Maybe $120 USD, but not AUD.

As mentioned, their reporting is probably the worst I've ever seen on the ASX. Ever... Don't like that the CEO is a lawyer and the chairman is an accountant. They mention that they are working on forward forecasts... Don't really care about forward forecasts when they can't even publish clear cut past actuals!
 
And then out of the blue... pop.
What gives?
Leaky inflatable raft??

Only noticed this today as I'm keeping my eyes on LCY & CUF
None mentioned are held though, this or them.

Screenshot_20220112-222456.png
 
TI1 back down to the low 3 cent range. Went through this quarterly to see if they've enlightened us as to anything to do with their costs or revenues or grades now that they are officially in commercial production (unfortunately they didn't really enlighten me). $68 million MC, 28 million in the bank. Roughly values the mine and future production at $40 million on my calculator.

Very roughly rounded rough Q2+Q3 Results:
350,000 tonnes produced - Increase Q on Q - That's good - but what about the grade?
200,000 tonnes sold - Building a stockpile b/c costs are high. Ok. Understandable. 300,000 t stockpile now - but again at what grade?
$16,000,000 in cash outflows
$18,000,000 in cash inflows

Seems like a very reasonable $45/tonne costs on produced iron
Seems like a rather poor $90/tonne revenue on sold iron - but potentially a good margin if grades hold up.

Still happy to watch this one. I'm working on the assumption that the grades of the stockpile is rather low grade and there might be some accounting purpose to hold a large stockpile on the books on June 30th? But just a guess.
 
TI1 down to 2.1 cps giving a MC of $45 million and will be down to $20 million cash after they pay the dividend.

They spent more than they took in this quarter but continued to build their iron ore stockpile by about 100kt to nearly 500kt which based on the annual report valued the inventory at just under $10 million.

Production costs look like they went up a little (to be expected) to about $72/tonne for the quarter ($ outflows/221kt produced)

Starting to look more enticing, but the general lack of information on this company combined with the regime change in Brazil (maybe lose the tax incentive?) still keeps me on the sidelines.
 
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