Australia's largest stock trading and investment forum Australia's #1 stock forum

TNG

Click for more information

1.01%

9.8¢ tng limited

Considering the market was a sea of red today we held up pretty...

First 19 Last

Share
Profile

Follow
siddley

1,018 Posts.

92

25/03/19

16:22

Post #: 37876529
Share

Originally posted by maxter ↑

yep. Im going to call myself out on my contribution to this tread re friday sell. It should have been modified. I made a call way back to play the ball not the man. While the sell/buy was correct i shouldnt have added to that at the expense of another person. I dropped the ball.

I apologise. If i/we expect the Co/ to increase the integrity of their announcements then its only right not to take cheap shots. Doesnt stop a directed critism if warranted but recent announcements have a different flavour, more detail, more realistic and transpearant. I think for me anyway its time to give the BOD a chance to gain some ground on the credibilty stakes.

We can be reasonably confidant the bulk of the sell down was one holder from the sale times and that the shares went out at market price. That was not great planning in hind sight as the market is soft, TNG is trading on negative sentament and it was a friday. Reasonable to conclude the seller needed funds by month end and sold with T Plus 2 in mind or wanted to put negative preasure on the SP. They achieved the latter and at 11.42 the SP was 8.5 cents. What followed is also interesting . Two small parcel sold at 1:53 at 9.3 cents and 3:10 at 9.4 cents claiming back lost ground and more. Then after hours there two trades at 4:10 taking the SP back to opening SP of 9.1 cents.

All that looks suspiciously like efforts to keep negative preasure on the SP. With 3rd party equity discussions said to be in play the BOD need to monitor this stuff.

Back to the update on Refinery EIS. The time line has moved out to a window of the next 3 months. For the first time we have details regarding which consultants are in the mix and who is doing what. Some of the seasonal data refered should have been well completed (but GHD showed they werent up to interpreting the TOR accurately and we can't hold that against the new consultants). I guess they could have asked the neighbours for their data, it will be well known by now. The public exhibition time has been set a 60 days. If the NTEPA consultation process is fully working then TNG might avoid additional questions and delays but its September at best for NTEPA approval. Lets hope we get conditional finance before hand.

An SP in this range below 10 cents is on one hand inviting but otherwise sole destoying aspecially for those who bought in on the false runs of 2014 and 2015. Gee its a dim memory when we were sitting at 13.5 cents, still oversold, but poised for a test on resistance and along came the VINSON announcement with the Co/ issuing a placement at the absolute maximum discount permissible under the ASX rules causing the biggest single share price dump in TNG's history. Five months on still no sign of recovery. Must be a canditate for "publicly listed company blooper of the year". Funny thing is we still havnt touched those $$ in operating expences. Shame.

im looking for some positivity and accountability, and lets see the titanium offtake closed this quarter. No preasure , you got 5 trading days. Plenty of time, NZ changed its gun laws in 3 days.

Expand

Considering the market was a sea of red today we held up pretty well.I feel the market still considers tng a goer but still patiently watching and waiting for the right ann to start buying.
I dream of the day when we see the sp rising in 5 cent jumps in a day.

TNG Price at posting: 9.3¢ Sentiment: Hold Disclosure: Held
7 Upvote

1 Great analysis

Reply

Top Stories

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

UBI

Universal Biosensors flat despite fresh deal with US medical product distributor

MLS

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

Trump is President Again: What Does This Mean for Crypto?

There are more pages in this discussion • 18 more messages in this thread...

First 19 Last

Add TNG (ASX) to my watchlist