I liked this bit: The cost to complete the entire Phase 1 and Phase 2 drilling programme and the resultant resource estimations is estimated at A$1.4 million. The Company has current cash reserves in excess of A$4 million and therefore is fully funded for the drilling programme as well as the metallurgical and mining studies which will follow completion of the drilling programme.
If results go 'as expected' then I can easily see the current 53 million options on issue (more to be issued) being well into the money and that will raise a further $2.5m, perhaps keeping a CR at bay for a while, enabling further development (and perhaps a CR at a higher price).
Nice news and a clear outline of where to from here. So far the company has delivered, lets hope this continues
TNO Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
