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31/07/22

14:17

Post #: 62837899
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Originally posted by H Williams: ↑

I am a TNG sh. I bought fairly recently because I liked the project.
I have the following thoughts on the current grab for control of the Board.
This is a highly valuable project. It has been conceived and developed by present management, to a point where mining is imminent.
A small group of dissident shareholders believe the timeline for delivery of the project has been too slow and management is to blame.
Whether this is true or not, provided the ultimate value is a high as indicated, time taken so far is not material.
The only key remaining steps are to complete engineering and secure final approvals and financing.
just as the coy. is on the threshold of achieving these critical final goals, there is a sudden attempt to disrupt board and management.
This event represents a threat to the coy's prospects because
The only people with the knowledge and experience to deliver the project are the present board and management.
They also hold the vital relationships with financiers, govt. and landowners.
The proposed new board has no relevant expertise to bring to the project.
They are not mining engineers; they have not built nor managed resources coys.; they have not started nor developed resource projects.
They have not raised project finance for resource coys.
Instead, it appears that a small group of opportunists has spotted the chance to try and take control of a lis more qualified new directors are appointed.
After being handed control, they may decide otherwise; they have no proven ability to find to find experienced new management and directors in any event.
They also have no capability to complete the steps outstanding to realise the project any faster than is presently occurring.
There are considerable risks of changing board and management at this late stage in the project's development, in return for no identifiable benefit.

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If you don’t like the proposed change you can always vote against it

TNG Price at posting: 8.7¢ Sentiment: Buy Disclosure: Held
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Last 4.7¢		Change -0.001(2.08%)		Mkt cap ! $81.19M

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