Hi Head,I think I'd had one too many Pinot Noir's before my last...

Hi Head,
I think I'd had one too many Pinot Noir's before my last post as I meant, "John Bishop". I do have a holding in TGS and obviously the ex MD David Young was on my mind. The latest news will make it a little more difficult for John Bishop's 30cent oppies to be in the money by 8th March.

Despite the announcement of the delay in the tailings retreatment until June/July, I am more comfortable with "a more conservative approach" and "a complete review of all their options".

It sounds like Ian Sheffield-Parker is thorough and working to a "solid business plan". A concern is he has no shares and will be "embarking upon a fund raising exercise". This will undoubedly mean dillution of some description.

No mention was made of the offtaker, which, I was hoping may contribute to the capex required for the building of the tailings processing plant and may even go someway to offsetting some of the cost of the crushing and milling plant required for the low-grade stockpile.

I was very much encouraged by the fact, "planning is proceeding for metallurgical test work and flow sheet development for processing of the low-grade stockpile based on portable handheld XRF equipment and visual estimates which were highly satisfactory". All will be revealed in a few short weeks when the laboratory assays confirm these, "highly satisfactory results". We are still also waiting results of the tailings bulk sample trials which should be available around the same time.

I increased my holding yesterday, probably picked up Fishinnick's parcel. I will continue to buy on any weakness. I am of the beleif all good things come to those who wait.

Cheers,
Stumpy.