Dear SubscriberThe Directors of TNG Limited are pleased to announce that Old Park Lane Capital have prepared a research note subsequent to TNG's Diamond Drill Results Confirming Mount Peake Resource Potential announcement released to the ASX on Wednesday 24th August.
"ASX-listed TNG Limited (ASX: TNG) has reported assay results from 8 recently completed Diamond drill holes at the company�s flagship Mount Peake vanadium-titanium-iron deposit in the Northern Territory of Australia. The results confirm wide intercepts of continuous vanadium-iron-titanium mineralisation with some of highest grades encountered to date. TNG is awaiting assay results from the RC drill programme and anticipates that a new JORC-compliant resource update should be available by the end of September 2011.
We maintain our short-term target price of A$0.27 per share (fully diluted) and a BUY recommendation. TNG expects to update the market with a new resource for Mount Peake in September prior to the completion of the current PFS. We reiterate our view that the shares represent a cheap entry point into a fast growing resource and development play, and we expect the stock to gain further traction in the autumn".
Visit the Analyst Reports page of our website for full details or please click here to view the research note.The Directors of TNG Limited
TNG Limited is a lead and silver exploration company based in Australia.
TNG Limited holds various exploration projects in Australia.
Its main exploration properties are CAWSE EXTENDED, MANBARRUM, MOUNT PEAKE and SANDY CREEK DEPOSIT in Australia.