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15:54
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Originally posted by box
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I haven't posted for a very long time, however I read all posts related to stocks I support and hold. Note: Tng has over 2600 shareholders of which around 60 post on TNG threads. Its also absurd for people to ask for more of a substantive update on EIS, off-takes or financing other than what has been given. The company obviously can not provide any indication of the terms of the deal (for confidentiality reasons), nor can they provide an ETA on execution of docs. Both of these things would be suicide as then the off-taker/financier would have them over a barrel knowing how badly the company gets punished when it fails to meet guidance. As a CEO and director of several companies in the Construction/Development Industry, I'm aware these deals take months or years to put together. Its not uncommon for them to take many months for D.A's or projects from kick off to signing. Dealing with Government authorities taking even longer, you may think you got all covered, but they find something outstanding all the time. Its their Job to do so. The EIS is obviously a far more complicated transaction and requires time to work through all issues, getting approvals in order to move forward to finance are all part of the process. The tone and substance of previous announcements indicate that negotiations have been progressing for months which is very positive. Its unlikely anything else can be said until EIS permit is granted. Assuming offtake for Titanium/finance deals are ready to be signed, there will be no warning other than grant of Mining License. When that happens I imagine TNG will undertake the mother of all, reversals both in terms of sentiment and SP. Having been in TNG for many, many years and part of CR at 4 cents, I have learnt that patience is needed with this stock now as it will transform into the said "Mega Project" so much done to date, with little to go.
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Box as a CEO you realize the lengthy process....I get that part of the story but explain how come you know it's a long slow process works and our beloved PB doesn't???
(20min delay)