tng commences drilling on manbarrum lead zinc proj, page-12

hi Pokerface. The market is as irrational as the day is long and punters prefer to chase pie in the sky (CDU) rather than fundamental value (BTV) but hey thats life. BTV is a small position for me/our portfolio and we can ride out the bumps. I am convinced it will be 10c or better in the next six months so quite prepared to hang on. I have seen it trade millions on the back of bulldust so fully expect it to react to something decent like a financed project after BFS so hanging on for that.

Thor will be a cracker of a float, the holders are loyal and most have topped up in the Aussie IPO. The fact that they have managed to close oversubscribed in this market tells me that there is a lot of serious money out there looking at this now. Could be a good one for the next few months.

TNG - well what can I say? If the market sniffs at 85m at 15% lead/zinc then i will give up and grow vegetables. Manbarrum should be one of the big stories of 2006/7. Three rigs going to work in next few months, aiming for a 20mT JORC resource by June next year. Management own over 30m shares of TNG. I am in the top 20 holders as well, as I reckon this could be a massive win.

Patience wins over all hype, lets hope the herd finally see the light and stampede this direction. Looking forward to selling BTV at 10c to the herd in due course.