TMT - assay results from their Vanadium resource imminent (company said 'towards the end of march')
Key things to note:
- The ground is along the strike of AVL's project (i.e. they are neighbours)
- There have been 5 historical RC holes drilled with all results exhibiting >1% Va
- The 'massive magnetite zone' was intersected in every Traverse during current drilling (9-Mar Ann)
- Targeting the 3rd highest Vanadium grade recourse in the world
- 25m Shares on Issue, 3.5m cash - EV only $3.5m
Peer comparison:
- AVL >20m EV
- TNG >120m EV
The 'bonus' or kicker, along with being a tight register & not many on issue, is that AVL recently discovered Cobalt in the **anintha site & given TMT is further down the strike, it's not unreasonable to also expect Cobalt here also...
