longer timelines on projects

Like everyone else I am surprised by the extent of the sell off. There could be many reasons for this and I am speculating that changes in project timelines on both Mt Peake and Mt Hardy may have contributed in some way to this sell off.

Mt Peake
Around the end of September the projected timeline for completing the DFS was thought to be six months. That timeline is now by the end of 2013 some nine months later. I have no issue with the timeline changing as there is a lot of work to be done before the company can commence building a mining and metallurgical operation. We cannot expect approval of a $500m project without all of the necessary research into what is required to be built to ensure the success of the project. Once the modelling is complete we hope that funding and off take agreements will be quickly finalised. We know all these matters are in train now.

Mt Hardy
Expectations of punters in November had TNG finding a massive copper resource with their first few drill holes. Just look at the sell off after the results of the first RC drill hole. Well it is rarely that easy and PB is now talking about an extensive exploration programme to be carried out in 2013 to identify and define the size and nature of the mineralisation. No complaints from me here either and we can be heartened IMO by the mineralisation that we now know does exist. Some of the hot money that was attracted to TNG has most likely now moved on to the next hot stock that promises more quick returns.

TNG looks cheap to me at the moment
Good luck to all
W2