Sugar hit didn't last long, page-14

I am not at all surprised at the fall back in the share price, especially in this market ATM and lets face it, we have had little support from many holders who have sold out in the last twelve months. I didn't expect a sustainable increase in the share price upon the latest announcement being released regarding the Ministry of Mines approval of the Mining Permit as this was reasonably expected. I also don't expect much from the Ministerial sign off of the permit as this is arguably now priced in. IMO we should get a bit of a share price spurt once funding has been tied up but I would be surprised if we get out of single digits. IMO, the biggest risk that the market factors in is execution risk on the completion of an operating mine. There is a lot that can go wrong and has for many companies transitioning from exploration to production. When TON can get that right, then that is when I expect the share price to reflect full value for the resource that TON has identified. I am patiently waiting for that day!

ANZ