Feb 1st Clock Is Ticking, page-25

Just more ranting and fact-less statements from this useless feral animal

Where do I start ......but unlike my furry friend I will try to stick to the facts

1 METS pioneered the "proof of concept" in their Perth laboratories about 5 to 6 years ago.
2. Subsequently a small scale test plant (read large tubs) was conducted again successfully

I know it was a silly exercise by METS and TNG but they thought that the then wasteful practices of not recovering the Titanium and Fe content could improve the financial outcomes for these types of deposits. In addition the existing process called heat leach if I remember correctly, used (wasted) enormous amounts of energy. This inefficient process no doubt contributed to Windamurra going broke several times although Vanadium pricing swings did them no favours either.

As to the time it has taken to get to where we are now, well TNG has in that time generally had a market cap ranging between $5m to $25m. Sure it has been much higher in the past 12 months but TNG has in the main been a very tiny company with very limited cash resources. They have also been pursuing other opportunities such as copper. Quite frankly I wish they had just forgotten about copper but their is some potential there and TNG is an exploration company i.e. it is unrealistic for them to stop exploring as that is their reason for existing. That in fact is how they found Mt Peake for which we can give full credit to Paul Burton.

In the past 12 months TNG have successfully gained the attention of a number of highly regarded Chinese and South Korean steel companies as evidenced by their signing of letters of intent. They would not have done this unless they could see the potential of the TIVAN process and the resource.

It should also be appreciated that ongoing improvements in the TIVAN process have not stopped. These improvements are leading to higher levels of metal recovery, higher purity levels which result in reduced capital costs. Something else is that the number of products that can be made from this resource is greatly affected by the purity levels of the finished goods. As the purity levels improve so does the number of available product or end user choices.

If I thought that this company, the CEO, the Mt Peake resource and the TIVAN process were without a future I would simply move on to another investment target. I would not stand on the side lines and make the kind of comments that our furry friend makes. It just makes no sense to me to make the ill informed comments that he makes. If he was an experienced geologist, metallurgist or mining engineer he would be much more specific in his comments. I suggest that you take his posts with a huge dose of salt.

TNG has much to achieve in the next 6 months. I stand ready to judge them by their results when that time period has expired and currently remain optimistic.
regards
W2