Disclaimer: My first post on HotCopper after having been a...

Disclaimer: My first post on HotCopper after having been a passive reader for 2 years.

I'm one of those sitting on massive (TNG) losses at the mo.
So naturally I really hope for the tide to turn. Topped up at 8.2 to average down, but still am deep in the red numbers with that one.

In essence: TNG is an exciting stock. Assuming that TIVAN works (and one would, considering that big German partners are backing the company), even if Mt. Peake never get's financed or built, one would value the net present value of potential license fees and/or royalty streams at several hundred million. Not at 79M (incl. +10M cash). There's plenty of titano-magnetite around, waiting to be exploited as we run out of high grade ilmenites and "cheap but dirty" Chinese sources of Vanadium.

I also hold some Altech shares which I gobbled up from some weak hands late last years at 8.50c (thanks, guys!). Now trading at 13c and heading north, while the same partners as TNG's (SMS and KfW) step-by-step deliver an impressive project.

Of course the prolonged stretches in TNG's project time lines feel frustrating . On the other hand, just read Bent Flyvbjerg's brilliant book "Megaprojects And Risk - An Anatomy of Ambition"! Apparently every single mega project that got rushed as a consequence of shareholder, political or public pressure turned into a financial nightmare. The devil is in the details. Thus I trust in TNG and its first class partners to put proper due diligence before speed, to prevent catastrophic losses and to maximise our chances for a multi-bagger. At present interest levels I actually don't really mind waiting a little longer.

Next key mile stone: Titanium dioxide pigment off-take. I really hope, they can lock down a final agreement on that (on favourable commercial terms) within the next couple of weeks. Would be a huge step forward for TNG.