In ground values are completely meaningless and that is why the ASX stopped companies quoting them ages ago. The key to TNO will be the details around their planned DSO operation, how much DSO ore they have, the process to permit a mine in South Africa, their CAPEX and ultimately the percentage of the project existing shareholders will end up owning given the shares TNO needs to issue along the way to the oringal project vendors. However, at this stage its looking positive given the grade of the in ground mineralisation and the grade of their magnetite concentrate.
TNO Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
