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 aurumtraderon Sep 08, 2016 10:59am

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Post# 25217758

RE:I hate to tell you but tgx is not going in to bankruptcy

My understanding was that it was a subsidiary doing the voluntary bankruptcy. The parent company (True North Gems) in Vancouver has other interests available for exploration. The TNGG subsidiary is simply an operating company and is not the primary underlying company for this ticker.

Then again, it sounds like they put all their eggs into this mine so I am sure that even if they move on to something else, it'll take time, losses and rounds of financing if they can.

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