Ann: Notice of General Meeting/Proxy Form , page-8

Does anyone notice TNG is using the IGV (In ground value) to do the scope study, this is funny.

As for its reserve, sometimes 23% Fe, sometime 35%, V2O5 sometimes 0.29%, sometimes 0.33%, TO2 sometimes 6%, sometimes 9%; totally confused.

Even so, its study was based on 1A$ =0.85 USD, but the current exchange rate is 1:1.07,this is 25.8% difference.

This is on the profit side, from the investment side, the initial investment will need another 25.8% as well for the Jv partner, so total 50% difference compared with 1:0.85.

I believe the above are the reasons that TNG is undervalued atm. I wish the aussie dollar can retreat to its fail value--80--90c range, otherwise, not only TNG, many other miners will bankrupt.