TNO - High Grade Vanadium
Market Cap $25m (75% Interest in SPD)
Close to infrastructure in Known Vanadium Province
Only cracked over $1m Volume twice this year=super tightly held
Hartleys continue to buy and have not sold
Vanadium drill intersections: >1% V2O5 with mineralised units averaging 23m in thickness.
Grade profile is one of the highest of all ASX listed vanadium projects with grade in concentrate averaging 2% V2O5 and 13% TiO2.
Historic drilling has delineated a resource > 500Mt under the SAMREC Code (a “foreign resource” as defined in the ASX Listing Rules)
Capital raising of $2M at $0.40 completed to rapidly advance the SPD Vanadium Project.
Tando Resources (“Tando” or “the Company”) is pleased to announce that it has signed a binding Heads of Agreement (“HoA”) to acquire 74% of the SPD Vanadium Project, a large, high grade vanadium deposit located in the established vanadium production hub of Gauteng, South Africa.
Mineralisation is hosted in two magnetite layers with drill intersections returning results > 1% V2O5 near surface including
9m at 1.34% V2O5 + 10.5% TiO2 from 9m (SFR019)
13m at 1.13% V2O5 + 7.43% TiO2 from 10m (SFR017)
14m at 1.08% V2O5 + 7.07% TiO2 from 9m (SFR013)
20m at 0.96% V2O5 + 8.35% TiO2 from 11m (SFR011)
15m at 0.92% V2O5 + 6.44% TiO2 from 8m (SFR018)
12.2m at 0.90% V2O5 from 127.2m & 26.9m at 0.80% V2O5 from 43.1m (SFDD001)
44m at 0.66% V2O5 TiO2 + 4.24% TiO2 from 35m (SFR008)
34m at 0.65% V2O5 + 4.58% TiO2 from 23m (SFR009)
Looking Cheap here Vs others in the Sector
AVL $73m MC
KRC $160m MC
TNG $137m MC
TNO $25m MC (+35m Shares at completion of DFS)
