As I mentioned at the start of my posts, I see the emerging situation as a potentially successful form of backdoor listing by astute managers and not an opportune single project development opportunity.
I guess it all focuses on " If TGX needs $25M to develop the main assets" and what the main assets IN FACT are. I studied the history of the Adelong assets quite a few years back and I dont think anyone is going to just dive in spend $25M to build a project without further exploration expenditures focused on a resource/reserve definition, dewatering and the resolution of other impediments/issues.
My understanding was that there was little more than some measured resources and nothing that the current mob has said would seem to indicate they have spent any money to define mineable reserves.
In fact nothing much seems to have happened there since the very moment that activity ceased by Adelong Consolidated Goldmines NL many many years ago.
I really dont care what speculators think and dont think the stock is currently underpriced. There is however an opportunity for growth given the track record of those who have shown interest in rolling the current mob. However they are not there yet.
TGX Price at posting:
4.6¢ Sentiment: LT Buy Disclosure: Held
