morning traders 5 / 6, page-2

TNO


“RUNNING WITH THE BULLS”


“Confirmation that pipes represent significant upside, in addition to the historic resource of > 500Mt at the SPD Vanadium Project.”

“These results indicate that this material appear to be highly amenable to recovery by WLIMS at low Gauss settings and at coarse comminution sizes, supporting the Company’s belief that material from the magnetic pipes could represent a “direct shipping” type material that, after a relatively simple concentration process, may be able to be sold to an end user as feedstock for a downstream processing plant or processed cost effectively using a different method.”