Looking at tungsten only, what CNQ has in the ground far outstrips TGN (and that is before the Iron Duke and Petersens Lode is JORC'd up)
This project has an NPV of $161M (again before ID & PL) against issued capital of 480m shares (approx.).
Meaning the project (successfully funded and with offtake etc)
has a theoretical implied value of $0.33 per share.
SEI ABSOLUTELY NEED to secure the asset (mining lease) to eliminate concerns of control/ownership.
This done, suitors will hover, and it will take off.
Looking at tungsten only, what CNQ has in the ground far...
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