Announced that the company has raised 3.6 million dollars to sophisticated investors at 4 cents.
The geologists report was very positive and continues to improve the understanding of the region.
Yesterday Patersons put out a note on the coal mining stocks in Australia and highlighted the fact that many companies are being taken over and that there are only a few now left.
The article said " Acquisitions continue at a rapid rate. Since the middle of 2010 there have been many asset and corporate level transactions in the coal sector. At the corporate level, RIV, CEY, ICL (the old Straits), and NEC are no longer onthe boards. Others, like GCL, and KRL, have gone through corporate transformations that have brought in large majority shareholders. And the thinning of the ranks continues. Currently, there are several major takeovers orasset purchases underway worth approximately $20 billion. The notable transactions underway includeAquila/Vale, Hancock/GVK, MCC/Peabody, CNA/Rio, CCD/GRAM, and BND/several bidders. Remember also thatPRC, tragically, is unlikely to return. There are very few coal producers left on the ASX. Once MCC, CNA, and CCDgo, there is only, in market cap order, NHC, WHC, AQA, GCL, CZA, COK, and CCC left.
Well, if the coal industry is being gobbled up by the majors then surely Mongolia and TVN are a gauranteed project and the value of this project is way to low at current prices.
TVN Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
