Only the announcement of funding will send the SP North (or South if we don't eventually get a funding deal..)
Raising more cash is 'good' but this was inevitable, they were always going raise sufficient cash to get us past DFS, it was just a matter of when.
Considering how badly the SP reacted during the last spenditure on Mt Hardy I don't think management will entertain the thought of continuing Mt Hardy (ie drilling) until Mt Peake has a clear direction.
In a perfect world it would make sense to continuing Mt Hardy at this time, but fear runs this market. The sky is falling whenever a speculative share is spending their cash rather than being overly cautious. Every penny of the current cash in hand should be kept in TNG's bank account to keep shareholders sleeping at night.
Mt Hardy has shown enough to warrant continued exploration in the future, but not enough to warrant doing it now during these anxious times.
Just my opinion.
Can you imagine a simultaneous 1/2 punch from management announcement a funding deal on Mt Peake and a drilling programme of Mt Hardy.
One can only imagine the SP reaction.
Still months away from that, but months is better than years!
TNG Price at posting:
5.2¢ Sentiment: LT Buy Disclosure: Held
