Ann: Mount Peake Access Authorities Granted, page-20

Agreed Propunter. I dont have experience in Qatar hing prospector go to producer but there are t ihose on this forum who are in the industry and k ow the complexity of the process. Clearly it's often a one step forward two steps back then three steps forward kind of dance. In TNGs case I'd say there has been a real learning curve from MD down to the tea lady and equally for many Holders. The reality is the % of prospecter that evolves to Miner is very low. 

In fact I consider in my balance sheet the immense learning curve that i embarked on in September 2012 being not only my entry into TNG but also the world of penny stocks and mining prospectors.knowing what I now know I would have taken PFs subtle que given in 2014 ,(there are two very specific ones stand out to me)  and sold and gone elsewhere for a couple of years. He knew as did others the reality of the timeline as opposed to the best case scenario. There will be opportunities in the future to apply the knowledge obtained. My approach will be different. There will be know emotional attachment to a company and just because I know it will get there will not be a reason to hang in. I can repeat the same experience for my other sector biotech. Very steep learning curve indeed. 

Thar said there is a point when a prospector company with established fundamentals will intersect with the ideal commodity cycle or market shift that almost guarantees its development. I just read the history of Mt Isa and it is a great example of a company that grew from a change in commodity demand ( in that case lead/sink  to copper) and never looked back. 

As you have said SMS are old hands and know their oinions. They have foreseen/ predicted the titanimagnetite, hydro metallurgical play. They have backed the TNG horse. They are now riding it and giving guarantees that will guide it to the production and they have the finance links. 

So even if I was a savvy knowledgable investor who left the ship in 2014 I would have to I'd be looking to return pretty soon.