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 pennylane101on May 18, 2017 10:45am

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Post# 26259434

RE:RE:Its finally nice to see an update from them!!!

Interesting. The bankruptcy has not been discharged because the main creditor TGX doesn't agree to the terms. What this probably means is that the bankruptcy settlement (76% interest) has not been distributed because TGX has not signed off on it. I find it hard to swallow that TGX would get roughly $250,000 from all this. What was that payment for? How could the Greenland govt transfer the assets and license to LNG and the mine officially open last week?

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