pilot plant, page-4

Hope this clears the air just a little, there will be annoucements inside my time frame and what they do to the share price only time will tell, but for me it will be up,up and away for the share price after the 26weeks has passed and the annoucements start to flow.

The non-binding MoU allows for the establishment of a strategic partnership for the Mount Peake Project financing and development. Under the terms of the MoU, TNG had granted exclusivity to the group for a period of 45 business days to assess the Scoping Study.

(This time frame has passed)

The Chinese company has advised TNG that it has completed its findings on the Scoping Study and, following satisfactory reviews, it now wishes to progress this with an assessment of the Pilot Plant study test work in order to confirm the proposed process is economically feasible and to satisfy the pre-requisites of the non-binding MoU.

TNG is pleased to announce that the Memorandum of Understanding (?MoU?) with a leading Chinese State-owned engineering, development and construction enterprise announced on 28 February 2011 has been extended following the Chinese group?s positive review of the Scoping Study for the Mount Peake Iron-Vanadium Project.

(Has been extended ? for how long i dont know)

This next phase of pilot plant metallurgical testwork will take approximately 26 weeks to complete, providing a definitive test of the commercial potential of the
process, and forms part of the Pre-Feasibility Study (PFS) on the Mount Peake project.

(26 weeks)

The program will comprise 2,000m of Diamond Drilling and 2000m of Reverse Circulation (RC) drilling, with two primary objectives:

To extract approximately one tonne of representative diamond core sample for use in the metallurgical testwork and pilot plant studies to fully test the Company?s patented hydrometallurgical process; and to upgrade the current JORC Inferred Resource of 139Mt.

TNG now plans to advance discussions with all interested parties with a view to a final decision on a binding agreement for development of the Mount Peake project on completion of the pilot plant and pre-feasibility.

(On completion) So it has to be after 26 weeks for myself based on the company annoucements which explains the low interest at this point in time and the market sentiment as a whole is down at the moment, TNG looks a bargin to me.

Cheers to all holders
sobeit