For those that were wondering, NTU's announcement this morning confirmed the investment by Conglin Yue of $26M+ in the Browns Range Project and an offtake agreement. In total there will be underwritten funding of $58M for this project. It also confirmed that Conglin Yue has purchased the approx 10,000 sqkm of tenements from NTU for $2M - these tenements need $2M+ of exploration expenditure to be maintained in good order. It would seem obvious that these would be ideally vended into Orion Metals Ltd who are already neighbors for many TAM tenements. All in all, this is a positive announcement for TAM as it confirms further substantial investment in the neighboring tenements in WA and NT. For the chinese conspiracy theorist - you can make up you own mind as to whether this is good for Australia or not.
TAM Price at posting:
56.9¢ Sentiment: Buy Disclosure: Held
