$6.85 valuation per share becomes serious now , page-59

Now AUD:USD=0.9766, looks like AUD's downtrend is just confirmed, short term target is 89c imv.

Copmared with the exchange rate on 3rd AUG(1.06), ECE now has saved 10% =1.1c/share on TNG investment.

Now it seems ECE comes on the right time, according to the scope study, TNG can make $220 million net profit per year based on AUD:USD 0.85--1.0, what happen if AUD:USD drop to 75c?(the fair value imv)

I am still waitting for the copper results.

TNG's McArthur River Copper project is very very promising IMO, because it is very close to some WORLD CLASS copper/Zinc mine. I am not sure whether today's buying is due to the copper results leak.

McArthur River Copper project tenement includes numerous prospective copper targets identified from previous stream sampling results and prospective geology; contains the historical Yah Yah copper mine, which was discovered in the 1900s and produced some 40 tonnes of hand-picked, high-grade copper (20-30% Cu) ore prior to 1912.

"Mt. Isa-McArthur basin system of north-ern Australia contains five world-class, stratiformandlor- strata-bound, sedimentary rock-hosted Zn-Pb-Ag de-posits (Mt. Isa, Hilton, George Fisher, Century, andMcArthur River), one world-class strata-bound Ag-Pb-Zn de-posit (Cannington), and one world-class sedmentary rock-hosted copper deposit (Mt. Isa Copper)."

http://webcache.googleusercontent.com/search?q=cache:4_fzE1L8pJwJ:eprints.utas.edu.au/731/1/Stratiform_LARGE_RR.pdf+mt+isa+map+McArthur+Basin&cd=3&hl=en&ct=clnk&gl=au



Let's have a look at the regional world class projects around TNG's McArthur River Copper project.


1) Mount Isa copper Mines (Xstrata 100%)--world class copper mine!

"27mt proven grading 2.1% Cu measured resources of 51mt 2.1% copper."

2) "Rocklands Group Copper Project is located 100km east/south of Mt Isa/McArthur. (100% CDU)"


3) Southern portion of the McArthur Basin which hosts one of the world largest zinc-lead deposits, the McArthur River (Zinc-Lead) Mine. This world class deposit with stated mineral resources of 157 Mt @ 11.3% Zn, 4.9% Pb and 49 g/t Ag.