They got back I believe on Saturday.
They decided not to attend a meeting in Shanghai as it was with a company they have previously met with and felt it was not needed. The conference went very well with lots of interest. They found an excellent interpreter who is going to help them going forward. They were amazed in just how much money there is over there waiting for an opportunity to head overseas. I think they had a meeting with a very large moly company who appeared very interested in further talks.
Overall the trip was well worth it. IMO with all the interested parties they met with and all the huge contacts that they made with major Chinese players in the mining and financial sectors a deal of some sort will come of this. I think its a matter of picking and choosing. What Crichy is looking for is a little more complicated than just asking for money. We have all witnessed financial arrangements such as offtake agreements. Although they are an excellent way to finance capital expenditures in many cases the projects either take extra time or eventually go nowhere. He is looking for partners in the Chu, partners willing to take a seat on the board of directors, to network, and ensure the project moves forward. Believe me that will happen. They reported that there is an amazing amount of construction activity going on in China right now. Infact in 2010 they feel that they will be back to their previous steel production of over a year ago! Many of these projects and financial arrangements are backed by the Chinese government.
TTM has so much going for it right now:
-Support from all levels of government including; Federal, BC government (they were part of the delegation TTM went with to China). The BC and local governments are working diligently to make this work as the area of the Chu which primary industry is logging was totally devastated by the pine beetle infestation. They desperately want to promote development to diversify outside of the forest industry. They need jobs that TTM can provide.
-Demand from the Chinese; TTM's timing really couldn't be better. They have the money and want to invest in mining opportunities abroad.
-TTM Management; While many companies hope and pray to have talks with the Chinese TTM went and "banged on their door". You have no idea how important and how appreciative they are for our company to take the initiative to travel to China and do an excellent presentation on how beneficial it is to invest in TTM.
For newbies: TTM has evolved from an exploration company to a company with a measured resource. Now their only goal is to evolve to a producer. At times it is tough to be an investor with TTM. You will not get regular updates and press releases, (although that may change)? But they are second to none if you want to pick up the phone and ask them questions!!!! While many companies spend countless $$$$ on public relations campaigns to prop up their stock which only is an effective strategy for so long as eventually you have to show results. TTM is focussed on the finish line.
The CEO alone holds 10% of the stock. This stock is extremely tightly held. If you have other questions you may inbox me if you wish and I will try and answer them, but really I urge everyone to call the company at least once. Things are progressing extremely well this is not a good time to be a procrastinator.
Congrats to TTM management on your next big milestone!
BBOB
