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Triton Minerals Ltd V.TON


Primary Symbol: TTMNF

Triton Minerals Limited is an Australia-based mining exploration and development company. The Company is focused on graphite projects. The Company, through its wholly owned subsidiaries, has an interest in Grafex Limitada (Grafex). Its flagship Ancuabe Project is located approximately 45 kilometers (km) due west from the northern Mozambique coastal port of Pemba on the Indian Ocean shoreline. The project is located adjacent to the producing AMG Graphit Kropfmuhl (GK) graphite mine and nearby villages that provide a motivated local workforce. The project is approximately 80 km by sealed road from an operating container port in Pemba, with access to existing transport and power infrastructure and supportive local and national governments. Grafex is comprised of four exploration licenses, EL5305, EL5380, EL5365 and EL5304. The Company has also granted with mining concession for Cobra Plains Graphite Project located in northern Mozambique, within Neoproterozoic rocks of the Xixano Complex.


OTCPK:TTMNF - Post by User

Bullboard Posts
Post by eebleron Dec 06, 2011 9:37pm
425 Views
Post# 19297721

2nd Tranche and Permits

2nd Tranche and PermitsWell, 2nd tranche finalized.  Been some interesting days volume-wise with it down in the 12-14 cent range, and then some real losers like the last few days.  There is still a relatively long way to go before they can get to drilling, but this money should at least carry through to a point after the news release that says they have submitted the application for permits (and maybe even to the point of receiving the permits).  By then the sp could/should be higher and so they can go back out for more funding but with a higher sp so as to avoid too much dilution out of the gate.  At least the sp on the private placements wasn't down at the current sp, but it is also going to create some potential resistance if the sp hasn't passed through the 35-cent level by the time those shares are allowed to free-trade.  Those shares are theoretically in strong hands but if profits are profits and if someone wants to take the gains then they will. 

Still about 5-6 months to go before any drills touch the ground, but they are getting there.

eebler
Bullboard Posts