TGX Energy & Resources Inc V.TGX

Alternate Symbol(s): TNGMF

Metals & Mining Industrial Metals & Minerals

TGX Energy & Resources Inc., formerly True North Gems Inc., is engaged in the exploration and evaluation of natural resource properties in Canada. Its properties include True Blue, Cobalt Hill, Chuchinka rare earth element (REE), Decelles and The Nabikok. The True Blue Property comprises around 303 claims located 55 kilometers (km) south of Ross River, Yukon. The Cobalt Hill Property, a base and precious metal prospect, is located five km east of Castlegar in southeastern British Columbia (BC), covering an area of over 562.5186 hectares (ha). The Chuchinka REE property is a grassroots REE exploration prospect covering an area of over 562 ha, which is located four km north of the Defense Metals Corp. REE discovery known as the Wicheeda rare earth element deposit, in BC. The Decelles property consists of around 215 claims. Nabikok Property is an early-stage lithium-bearing spodumene pegmatite prospect comprised of 155 exploration claims, located in the eastern region of the Abitibi Belt.

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TGX Energy & Resources Inc

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Comment by mjl777on Sep 16, 2010 9:05am

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Post# 17454860

RE: RE: $3.200,000. non brokered private placement

What a poorly disseminated news release. My broker hasn't even picked up the release yet.

TGX's float could potentially increase by 60,000,000 shares (52.3% increase) with this financing. Given the slow progress on the financing, I was hoping that they were negotiating a j.v. deal. A j.v. may have been the least dilutive option moving forward and it would have eliminated the future financing risk.

Why do I get the impression that Houghton may know rubies, but little about running or financing a public company? Is anyone else getting the impression that TGX is a part-time hobby for these guys?

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