Probable Sale of NH, page-2

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RBEInvestor

520 Posts.

03/03/16

21:37

Post #: 17182451
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Originally posted by Glennoboyo ↑

I have been doing some research looking over some fine print and have formed the opinion that this VA is centered around the sale of NH.

01 March Update

Everyone including myself have been up in arms about the fact that this came out and two days later they went into a VA, I believe there is no mistake.

'During 2016 Triton will aim to progress the Ancuabe Project (Ancuabe) toward early stage mining as an economically robust operation.' this is telling shareholders that the goal now is to mine Ancuabe ASAP. They will definitely need to source cash to get the ball rolling properly, and more CRs are not very appealing to anyone.

Mr Higgo, commented on the need for a fully independent review of Balama North, stating: “The independent technical review of the Balama North assets provides Triton with an opportunity to assess the in-situ value of the assets and development potential and options available to the Company going forward.”
So meanwhile at camp NH they are more concerned with an independent review of the assets, noting very importantly the value of the deposit as it is naturally found in the ground (in-situ).

Very brief information on NH in the announcement. The whole document, especially the 'Strategic Outlook' was focused on how good Ancuabe is and their plans to mine it. The neglect of NH in their plans tells me they are looking to get rid of it.

No Serious Concerns about Liquidation

No money owed to banks. They have payments due to BB and Grafex, however it is believed that there was money available to fund these issues.

Feedback from those who called the company has said there seems to be little concern and that this isn't the end of TON.

The company could continue to CR until the cows come home, even at 3,2,1 cent they would still be able to keep this show running. I doubt the directors though they could not make anything of the company so they will just shut it down. Higgo has only been in for a few months, he would not throw in the towel so early.

Obligations to other parties

Grafex still owns 10-20% of the resources and YXGC are owed 2 billion dollars worth of graphite. This I believe is why they needed the administrators to come in. They cannot just say "by the way guys, we sold the resource you have entitlements to", no way. It is a complicated issue and they need some professional advice for all this restructuring.

Anyway... My thoughts only, based off some of the TON announcements and information provided by other HC users.
- Glenno

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well written, so basically our cash has been burnt? What are the chances we will get new shares in any new company?

TON Price at posting: 6.1¢ Sentiment: None Disclosure: Held
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Last 1.2¢		Change 0.001(9.09%)		Mkt cap ! $18.82M

Open	High	Low	Value	Volume
1.1¢	1.2¢	1.1¢	$7.631K	692.6K

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No.	Vol.	Price($)
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Price($)	Vol.	No.
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No.	Vol.	Price($)
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4	848475	0.006

Price($)	Vol.	No.
0.012	1699546	8
0.013	700000	3
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