Yes I agree with the last two posts regarding todays failure to hold the share price. I suspect that the run up in the last week was cut short by another non binding MOU irrespective of who it was with. Clearly there are a significant number of day traders buying and selling TNG which is entirely logical as TNG has become a hot stock or rising star in the past three months. As one significant shareholder told me a short while ago, after todays announcement with Hyundai, he was not the least bit concerned with the daily SP gyrations and that he is content to wait until it is over $1. I know that Warrren Buffet would say exactly the same thing.
So I put today down to the culmination of a sequence of events over the past week and I will simply wait for the momentum to catch up in the coming weeks. Despite a very substantial shareholding I could not resist picking up a few options never thinking that the SP would retract completely. I bought 50,000 options at 23.5c and despite being down 2c at this exact point in time I have no doubt that over the next month they will rise much further.
My next prediction is that the waiting time for Hyundai to become a cornerstone investor will be a very short time, I am guessing less than a month and probably as little as two weeks. My reasoning is that there can be no new information forthcoming as I believe TNG is relying on Hyundai to take up it's cornerstone investment ( I will guess 60m shares at 25c) and inject $15m of capital into TNG which they will then use to complete the CSIRO testing (unsubstantiated rumours have this cost at several million, possibly as much as $3m). The surplus funds will be used to prepare and complete the DFS.
Whilst some will be disappointed with another MOU today I think it is safe to assume all the players are genuine in their desire to push ahead with this project as soon as possible. I will sleep very easy tonight and look forward to a steady stream of announcements over the next three months as all the agreements become formalised and binding though I expect that most agreements will be conditional based on satisfactory or positive Tivan and DFS results.
Its all good IMHO
Chrs W2
PS I seem to have lost a Meerkat today. Sadly I think that he was run over by an Ann. If you find him please put him out of his misery
