No definitive news at this stage obviously.Unfortunately, the...

No definitive news at this stage obviously.

Unfortunately, the news regarding DD002 came out last Wednesday, when world markets were being clobbered by this sub-prime contagion in the US. Since then the DOW has been up and down and caused a lot of jitterness (is that a word?).

Compounding the pressure on TNG's share price was the fact that the company actually went into voluntary suspension for a day. This added to the melodrama perhaps.

The reality is that Manbarrum is a massive MVT system( imho). Sandy Creek is a strata bound deposit. The first 2 diamond holes did not correspond with the RC holes of last year at all (12 & 13)...the first one was partly logical, the second completely disparate. So, how does that second diamond hole make sense? Answer: it doesn't. Logic says to me that the second diamond drill hole did not go down next to MRC13, and that there is something askew with their survey. Further, the announcement talks about the 4 DD holes to the North showing much larger and more impressive (my interpretation)mineralisation than they had expected. Is it possible that they are drilling a few hundred metres south of where they thought they were drilling, noting that the northern RC holes from last year were unspectacular. That's what I and a few others are starting to think.

The quarterly report (page 16) shows a full page of visible lengthy intersections at the NEIP.

4000m of assays are awaited, and drilling continues with the diamond drill and the 2 RC rigs.

Frankly, the combination of the confusion surrounding 1 diamond drill hole assay, and the general market jitters caused by the DOW (30 lousy stocks seem to rule the financial world..ugh!) has seen TNG drop a very large %.

This stock is fairly tightly held, and the volume is minimal on a daily trading basis. A bit of spirited buying off the back of some clarification regarding the drilling programme will see TNG back or above previous highs....imho.

I understand that they are working hard to clarify what has transpired, and remain very confident about the overall system and project. This was reflected in the last paragraph of the trading halt statement.

Unfortunately with very little buying (buyers are easily spooked), and with some selling (those that have been spooked), the share price suffers. A bit of short term paper pain in my view...that's all.