Thoughts from the AGM, page-6

I was also at the AGM and there was no discussion regarding any drill results. PB gave a slightly updated presentation of the company and current position.

A few things I noted that had changed to what we know or what I quickly noted.

The TRR IPO will likely be 1st Q 2015 depending on market sentiment.

Stage 1. the sale of Magnetite to begin 2015. The ore will be crushed on site and shipped to market providing at best up to $10m/yr revenue. PB also stated this at the RRS in Perth last April but the time line was for end of this year.

They have not been able to recognize sufficient water resource for Mt Peake yet, however PB stated that he was confident of finding enough for the project as they require less than they had originally thought.

They have 15t of ore fully optimized ready to put through the pilot plant. Tivan results will be end of 1st Q 2015

Land in Malaysia to be secured early 2015

The upside of Mt Peake is for a 20yr + mine life and will likely be extended. The focus is of coarse Mt Peake, which we know what we have in detail, they are not worried about figuring out the full extent of the surrounding resource yet. They know it is large and that there is a lot more there than this small company can manage at the moment.

TNG will also be operating from an office in Shanghai giving them good access to markets throughout Asia. My thought on this was it will make the sale of the Magnetite easier as the most likely customer will be the Chinese steel mills.

Full production by 2017 for the V205

They have been in discussions with US, European and other countries regarding off take and that there was a lot of work going on behind the scenes.

I find it hard to concentrate on the presentation and write notes so if you were there jump in and correct me if I got something wrong.

Good to meet all the other HC guys there.. next time a few suds bigads!! sorry I had to run after.
I was the one in the blue shirt.