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TGX Energy & Resources Inc V.TGX

Alternate Symbol(s):  TNGMF

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.


TSXV:TGX - Post by User

Bullboard Posts
Post by oldman5on Nov 20, 2013 6:43pm
281 Views
Post# 21925003

Inventory

InventoryGot a reply to my email today. No specifics in it but here it is anyway
"You are correct in assumingthat there is an inventory with a value to it in our vaults, but this is in varying stages of processing. We have polished gems that we cut to see if indeed the material was of commercial standard and subsuquently they were used for valuation purposes, and yes I can assure yoy the product is very good.
We also have material we have utilized for engineering and process flow sheet to determine the ultimate method for processing our host/ore/rough, so tthis material stands as it is in varying stages of production. But once all knowledge has been gained from it and the engineersare coonfident we have the final system, this can be further processed to finished product as clean rough which could be polished to increase inventory.
But no material can be sold until permitting is completed.
All discussions with BMP/Greenland Government are goingas well, we have noticed a willingness to keep the momentum going and following the successful conclusion of the public hearing both parties (BMP and TNG) went straight into negotiations to get conclusion on all the required agreements pursuant to Exploitation Licence."

It was signed by Nick Houghton.  
So I guess we will just have to crack a beer and sit back and wait.
Bullboard Posts