Surprised there isn't a thread for this one, but as it is my tip for the August comp, I guess I had better start one.
TNG is listed on the ASX, as well as the major German indexes, with 100,628,983 ordinary shares and 69,463,422 options available. 54% of the company is held by the top 6 shareholders. Market cap is about 28mill.
The Manbarrum project is the flagship exploration project held by TNG and is located 70 kilometres north-east of Kununurra in the Northern Territory. The granted tenements consist of an Exploration Licence and an Authority to Prospect under Section 178 covering a combined area of over 200 square kilometers. All tenements are 100% owned. Key access clearance has been granted from the Northern Territory Aboriginal Areas Protection Authority (AAPA) for the Manbarrum Lead-Zinc-Silver project and field exploration has commenced. This field exploration should have taken place in February but was delayed due to an extended wet season and then out of respect to the death of a traditional aboriginal land owner.
Previous drill hole results from the Main Zone returned wide zones of high-grade lead-zinc-silver, with intersections including: 9.1m @ 15.01 Pb%, 0.55 Zn%, 42ppm Ag; 9.5m @ 17.34 Pb%, 2.11 Zn%, 60.1ppm Ag; 15m @ 9.53 Pb%, 2.72 Zn%, 36.4 ppm Ag; 18m @ 13.85 Pb%, 1.29 Zn%, 51.2 ppm Ag; 12m @ 14.88 Pb%, 1.14 Zn%, 26.8 ppm Ag; 12m @ 18.02 Pb%, 2.69 Zn%, 24.2 ppm Ag; 12m @ 19.52 Pb%, 2.44 Zn%, 25.4 ppm Ag.
The results from Manbarrum are due soon, and if you look at the charts, you will note that the SP has returned to its february high of 30c+ on increased volume. IMO, the big money players are confident that the upcoming drilling results will warrant a significant SP re-rating, and are increasing their positions early.
Certainly worth a punt.