allocation of shares and options, page-31

I have been watching TNG from the sidelines for some time now and it amazes me how many companies with a fantastic prospect, and even ones that appear near certain that they will realize that prospect, appear to go through this period where the price appears to meander in the wrong direction.

Shareholders get upset and say it is a reflection of management, the political scene, the world economy and so on, while others believe it is being primed for a takeover.

Everyone seems convinced that the Great Market is putting a correct value on the company or is being manipulated to undervalue the company.

I'm not sure how anyone can value the company at this point in its evolution but I have noticed that most resource companies seem to get a high valuation from the market when it discovers a resource, which over time disintegrates as the company moves onto scoping the size of the full project and then finding the finance.

But even when finance comes along, it does not seem to be the catalyst to activate the price to anywhere near where it was when the resource was discovered.

Even as the first production date nears, the price seems loathe to move, as though shareholders and potential investors seem to doubt that what is expected will eventuate, as though some unforeseen problem will drop from the sky.

Even after production starts, often the SP will not move until a substantial buyer steps into the ring.

Although it is tough for the current holders, possibly a great opportunity is opening up for those that have bided their time.

For me, at present, it's seems easier and safer to wait to near production date before jumping in. I can do without the angst of these sort of periods. I have experienced enough of them before with other companies,