It's a shame TIG couldn't find a buyer for their Colombian project, not surprising in this market however..
Glad they're not throwing anymore money at it. Russia has always been the main game with Colombia more of a distraction.
TIG is still the cheapest coal speccy amongst all its peers imo.
A comparison-
Shandong Energy Group made an offer for Rocklands Richfield (RCI) in May 2012 valuing their coal resource at 0.40c per tonne. (JORC inferred resource in Bowen Basin of 700mt, of which RCI's share is 420mt.
Richfield's coal has been described as bituminous, some is coking quality, but most maybe soft to semi-soft.)
Based on this recent valuation, would make TIG's inferred resource of 406Mt of high quality coking coal at Amaam, valued at $164m. or 0.45c per share!!
TIG's market cap today at 20c per share is $69m..
Why would you give them away??
As always, please do your own research
nil.
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