Ann: Mining Right granted at SPD Vanadium Project, page-3

I see TNO are not ignorant of the power of PR. Lots of Ozzie companies are too dismissive of this tool...

Key points

• Tando poised to unlock the huge potential of SPD Vanadium Project in South Africa, with Mining Right now granted

• Drill rigs engaged with Phase One drilling to start in August; SPD’s ‘foreign resource’ expected to be converted to JORC Mineral Resource by October

• Drilling will also test high-grade vanadium pipes to support a DSO operation, potentially generating early cashflow at low cost

• Phase Two drilling program to upgrade JORC Resource to Indicated status will start immediately after Phase One

• Company fully funded to complete both phases of drilling

• Due Diligence completed with the grant of the Mining Right, Completion of the Acquisition of a 73.95% stake in SPD Vanadium Project expected to occur in late August

• Vanadium pentoxide prices have increased 200% this year