Closed at 10.5 in both ASX and CHI -X yesterday..
52% off the 2018 high of 22 cents. 32% down on SP 1 year ago.
But for the Vimson issue the MC would have dropped below 100 mill.
This 2018 was touted as the "transformational year". The year after so long and so much frustration would see TNG turn from prospector to Commodity Miner with its Flag Ship world class Mt Peake Project.
The reality is we await the issue of NT ML. Mining licence or Mineral Lease, whatever you want to call it, we dont have it. Why, well who knows l, but is it because the MMP is still a work in progress, quite likely.
Now all holders have got used to the daily fare of assurances not honoured, timelines made on a whim and broken without so much as a batting of the eye, so that cant be the reason for SP collapse.
What then is the cause? This holder would suggest the as yet unexplained issue to Vimson at a mind boggling 20% discount. By gifting 10% of the company to Vimson the BOD wiped 20% off the value of each and every other shares.
AAs a long term loyal holder I just cannot understand or justify to myself the Boards desicion on the Vimson issue and clearly the market had rejected it too.
Next question, who was behind the dump of shares on market yesterday? Perhaps more importantly why? The combined sell off , if the numbers I read on Barc. hart are correct, are concerning.
Anyway I'll leave this post recording that Barchart via their analysts say TNG is STRONG SELL 96%.
BoD, if you want support, if you want a vote of confidence, if you want secure tenure, then, the ball is in your court. it's on you to correct this appalling state of affairs. You e got 7 days to do it.
