For all those wondering, TON only paid Grafex $1m for an 80% interest of the Balama and Ancuabe tenements.
Not much has changed in the value of the area apart from a self-funded 'independent' flotation review and a partially completed (therefore non-feasible) DFS.
Source: 18 December 2012 Joint Venture Grafex terms.
Read and understand, page-24
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