Ann: Quarterly Activities Report And 5B, page-38

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bobadah

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17/07/18

15:50

Post #: 34397913
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Originally posted by maxter ↑

Bobadah you are right when you say "many such situations have fallen away in the past".
In some of those situations it could be said that significant events altered the land scape, ie change in comodity climate, reduced finance for development investment.

There are others where in hindsight one is left in doubt about the bone fides of the announcement and consequent time line, an e.g. is the EIS timeline for the Darwin Refinery, we were told Q4 2017 (just prior to AGM ) that final flow sheets, product lines and the like we're settled enabling closure of the titanium off take negotiations that were incidentally on the lawyers desk. Further an updated DFS was fkaunted about.

All this meant that the Refinery EIS draft would be filed c Christmas. Also a second round of discussions with ECA would take place in Germany November 2017. Well we wait for the filing of the Refinery EIS and we know the meeting in Germany did not take place in 2017. More we recieved a series of announcements Q1 2018 that in effect said an important part of the TIVAN processing had been revised with a sulphate rather than chloride route was now settled due to a break through in processing and avoiding a step in the process to Titanium pigment plant. This of course renders the bottom line in the DFS incorrect although a revision might produce a better bottom line.

On the face of this change in position make the various announcements irreconcilable with each other. It may be that the off take suitor made specific demands or sort specific product parameters requiring a revamp in the earlier settled refinery routes. It's possible that an unacceptable EIS outcome resulted from the first titanium production route. We are left only to speculate as we have not been told anything and are left in the dark..

So I totally agree the market treads with caution and may wait for a clear signal.

While I tend to the optimistic view and post accordingly, sometimes not, I do note these obvious examples were management do have effective control over the events they announce on and do not follow through on.

What we do now know is discussions have been advance with the ECA tranche and the Titanium off take has also been advanced and the CLC agreement is at "final" draft stage, so with some reticence I am again optimistic that we are at the "pointy end" to coin a fraize that has gathered dust.

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Maxter, I see nothing to disagree with in your summary. I, too, am optimistic and have actually increased my holding a bit in the under 13c area. However, I am having more trouble staying on the 'straight and narrow' these days, but here's hoping.

TNG Price at posting: 12.5¢ Sentiment: Buy Disclosure: Held
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Ann: Quarterly Activities Report And 5B, page-38

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Ann: Quarterly Activities Report And 5B, page-38

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