Ann: Ancuabe Permitting Update, page-107

@Capraise, you have some interesting points and think you have some experiences with mining stocks to time your investing when there is most likely to be an up trend in the share price, usually best when new mine is closer to construction completed & there is a guaranteed turn over of cash flow.

It is a common strategy to possibly reduce chance of losses with higher chance of success, and have heard it before. Many of us have tried timing the market with some success, but, find it is better to take a longer term investment view. Hence, I get some of what you are saying and have observed other stocks go up at resource discovery stage and then have a great up trend towards completion of mine construction, and other TON investors have provided some good graphs/diagrams recently.

Everything is a risk investing, and we can mostly guess the future.

However, natural graphite has several niche growth market applications, including batteries, graphene precursor, and expanded graphite in building products. There are several market forces acting in favour of TON. The biggest factor is the coordinated manner that Chinese and other Asian graphite producers/processors and customers are working towards ramping up production and supply chains, and doing it with less pollution and environmental impact. It is encouraging that China is shutting down polluting graphite mines and in determined with there new long term plan to have blue sky, electric cars and renewables, etc. Japan is also determined to establish a graphite supply chain and more renewable energy and cars, etc, after the nuclear reactor disaster and pollution at Fukushima. Graphite is also an important material in the construction of old and new modern nuclear reactors. It is interesting that Tesla Motors said they had biggest issues was with supply chains when they ramped up production of the model3. Hence, a coordinated approach actually matters in the next few years.

I'm not an expert, but it costs a lot less to build a graphite mine, and it is generally straight forward design compared to lithium mines as an example. It is not rocket science, or a technical thing like producing various graphene. However, TON is working in an organised manner (slower than most investors would like) with customers to verify the way to fine tune the design so that the graphite can be extracted and provided to customers efficiently and at required quality. SYR (Syrah Resources) recently had problems with their new mine milling/extraction process and were struggling to produce at 80% or lower low grade graphite for a few months (this resulted in lower returns), and only recently seem to have fixed or fine tuned the problems (or something like that). I believe in discussion that TON has the benefit of learning from the issues SYR had to ensure customers get delivery of the quality of graphite they sign up for. Anyway, its hard to cut a long story short.

In lure of the above, you have to ask; what the risks are to be or not to be invested now in TON? Timing the market to get to best short term returns is another topic with many variables. Otherwise, many investors would all be extremely wealthy if we could predict the future. NB No investment advice intended.