Great news for TIG investors with an increase of inferred resources to 408 mt. A 38% increase with more results due in Q3. Taken from announcement "TIG considers that the deposit has now reached a substantial basis for the pre-feasibility study currently underway to demonstrate Amaam’s robust project economics. In line with TIG’s focus on bringing the project into production, future drilling programs on the Amaam tenement will be targeted at increasing the confidence levels of the existing resource with less emphasis on delineating additional resources." Also Tigers Realm Coal Managing Director and CEO, Mr Martin Grant, said, “We are delighted with this result. The successful addition of another 112 million tonnes of Inferred Resource is yet another positive milestone in the development of the high quality, large scale Amaam Coking Coal Project. The next phase of the 2011/12 program is targeted at increasing the confidence levels of the resources in Areas 3 and 4EC. We look forward to providing an update on the results of the full drilling program in the third quarter of 2012.”
These numbers now take the Amaam tenement to the size of some great Queensland and NSW coking coal mines when proven and with a 5mtpa initial production goal and a mine in a very strategic area just north by sea of the great steel producing nations of the world this could set TIG In my opinion to be one of the most underrated stocks on the ASX .
TIG Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
