Dear SubscriberThe Directors of TNG Limited are pleased to announce that Old Park Lane Capital have prepared a research note subsequent to TNG's Resource Drilling Completion announcement released to the ASX on Tuesday 16 August.
"ASX-listed TNG Limited (ASX: TNG) has announced that the reverse circulation drilling programme at the company�s flagship Mount Peake vanadium-titanium-iron deposit in the Northern Territory of Australia is now complete. TNG anticipates that a new JORC resource update should be available by the end of September 2011. TNG has also identified two new potential mineralised zones proximal to the Mount Peake deposit which we believe adds significant resource expansion potential to the area.
We maintain our short-term target price of A$0.27 per share (fully diluted) and a BUY recommendation. The rapid progress on exploration, the upcoming resource update and the nearing completion of the pre-feasibility study provides strong news flow. We reiterate our view that the shares represent a cheap entry point into a fast growing resource play. The exploration upside is particularly compelling in our view".
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 est une société d’exploration minière de plomb et d'argent basée en Australie.
TNG Limited détient divers projets d'exploration en Australie.
Ses principaux projets en exploration sont CAWSE EXTENDED, MANBARRUM, MOUNT PEAKE et SANDY CREEK DEPOSIT en Australie.