Iron sands New Zealand, page-26

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26/03/19

09:39

Post #: 37882368
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Originally posted by maxter: ↑

Hi Ando. After the VINSOM deal i did some research on their associated industry links in India. PP2 completed a far more comprehensive overview so i filed mine in the bottom draw. Two things stood out that i recall, firstly, India has huge iron ore reserves available but very limited known vanadium reserves especially in titanomagnetite reserves. The second aspect was that VINSOM through linked companies had significant iron ore interests but in one of its more profitable mining operations had been stripped of its mining licence by the Govt alleging non comliance issues. I would have to re walk my research to be acurate on detail but it stood out.

i personally believe India is a mecca of opportunity as its Govt implements development and infrastructure. Im also assuming that that the Family that controls Salgaocar and VINSOM have influence at the top table. What is misding is I still cant connect any dots that infere VINSOM is a strategic move for TNG. Nor have we been given any insight into this except some vague suggestion that they may enter into an iron offtake option. Well we have one of those already although not expressed for 100% of the iron oxide or pig iron it could be with the strike of a pen. It looks like a strategic move sure but not for the shareholders of TNG. It looks very much like a discounted investment opportunity for VINSOM that conveniently worked to the advantage of the then directors.

i await the time when we will actually be informed of the value of the VINSOM move. In the mean time i with every other holder will carry the 20% loss to our commitment to TNG soley due to the VINSOM deal.

I remain firmly with the "Browns" and do not second quess their integrity at all.

There are some absolutes in life and one of those is the truth always comes to the surface. It does so because it is and does not alter so it survives. Someday we will know whether what we suspect is correct and if so .... well lets leave it there, but reputation is something to value and preserve.

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hahaha...
"...as its Govt implements development and infrastructure."
have you ever been to India? India comes down to corruption and back stabbing.

TNG Price at posting: 9.3¢ Sentiment: Buy Disclosure: Held
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