Think we might be due for some news shortly. Final pre-condition met (SA Reserve Bank), acquisition imminent. Wonder what happened about flying in the rig?
Plenty going on atm (except on the ASX)
Tando recently received notification of grant of the Mining Right for the SPD Project by the South African Department of Mineral Resources. This paves the way for drilling to start later this month at both the SPD deposit and the surrounding pipes.
Drilling at the SPD deposit will be aimed at converting the current "foreign resource" to a Mineral Resource estimate (MRE) as defined in the JORC Code. Tando expects the MRE will be published by October, 2018.
Following completion of the Phase One drilling program, Tando will move straight into Phase Two, which will be aimed at upgrading the maiden JORC Resource to an Indicated category (provided results are as anticipated). To achieve this goal Phase Two is currently designed to comprise 58 holes for 5,550m.
TNO Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
