Sell off is mad, page-5

Hotfire the reason TON is trading at many multiples of UNX is nearology to Syrah.
We all know they will have graphite and it will be of the same kind as Syrah being narrow and deep, however vanadium will be present meaning it wont be sold to high end market.

TON has drilled just a couple of holes at Nicanda Hill and is in the very early stages. Remember it is clearly in the very early stages as their ETR reported in early 2014 was based on nothing more than trenching, rock chip samples on the surface and from memory two shallow drill hole in one of the 3 target areas. The ETR was in the vicinity of a 730 to 1.2 Billion Tonne at a grade from memory of 5-6%.
You must admit that is pretty miraculous with minimal work done. I especially love the bit where they are so specific with the grade? Pretty hard to be accurate with no holes drilled.

All I am sayiong that I prefer my management team to back up their work with real figures. In assessing UNX's ETR 67 individual holes were drilled to depths of approx 50 metres in arriving at our figure. As you can see the work conducted by the two companies is not corresponding.

Yes of course the MOU has not been signed yet however, credit where credit is due. Based on the end user this potential deal wil;l have more weight than any other out there. Management expects this to be signed by December 2014.

Dr Frank Houllis joins the team in August and with his previous experience will bring Nachu to production asap. That is his mantra to get this into production. The company has employed this guy prior to the JORC being defined as they are so confident in its prospects.

Cheers

Matt