Tonogold Resources Inc (TNGL)

[joeblow110percent]

Tonopah Divide Summary:

I believe that the Tonopah Divide project is the project that enticed Mark Ashley into coming on board TNGL as CEO.

TNGL GOT CONTROL OF 72% OF THE TONOPAH DIVIDE PROJECT ALONG WITH ALL OF ITS IMPROVEMENTS FOR FREE. In October of 2012 TNGL’s Tonopah Divide 72% partner, Centerra Inc. withdrew from the project. Centerra withdrew from all of their U.S. projects. CENTERRA HAD INVESTED ABOUT 4.6 MILLION IN IMPROVEMENTS WHICH ALSO WENT TO TNGL FOR FREE. TNGL now controls 100% of this project along with all the improvements. http://www.tonogold.com/s/NewsReleases.asp?ReportID=553146&_Type=News-Releases&_Title=Tonogold-Resources-Inc.-Regains-100-Control-of-Tonopah-Divide

The below summary is taken from the TNGL web site: http://www.tonogold.com/s/Home.asp

Tonogold Resources, Inc. explores and develops advanced exploration properties in Nevada.

Our flagship property, Tonopah Divide, is now 100% owned and we are moving rapidly to expand and define the resources contained in two recent discoveries.

Here are some key facts about Tonopah Divide:
• Recent exploration program (2008-2010) consisted of 79 reverse circulation drill holes (74,070 feet);
• 223 gold bearing intercepts (minimum of 0.30 grams/tonne over 3 meters);
• High percentage of surface samples show anomalous gold and silver;
• Prior to 2008, other operators drilled 321 holes (mostly reverse circulation) over 110,111 feet.
• Two recent discoveries, NMC Combination and Ruby Hill, open to the Southeast and Northwest
• Six more high value targets identified, but not drilled.
• Extensive underground workings with exploration potential
• 80 patented claims and 306 unpatented claims covering approximately 7,500 acres.
• Adjacent to Hasbrouck Mountain which is owned by Allied Nevada (NYSE: ANV)
• Excellent access and local infrastructure.
• Located in mining-friendly Esmeralda County.
Here is a May 2007 update on the Tonopah Divide project: http://www.24hgold.com/english/news-company-gold-silver-announces-initial-work-program-at-tonopah-divide-gold-project.aspx?articleid=143943

Here is a 2 Sept 2010 TNGL PR on the Tonopah Divide drilling program: http://www.tonogold.com/s/NewsReleases.asp?ReportID=417242&_Type=News-Releases&_Title=TONOGOLD-RESOURCES-INC-DRILLING-AT-TONOPAH-DIVIDE-RETURNS-30-FEET-OF-0.118-...


Here are some CURRENT EVENTS that make things with Tonopaha Divide more interesting.

West Kirkland Mining (http://wkmining.com/) has announced that they have raised 31.1 million, 20 million of that to acquire a 75% interest in the Hasbrouck project. The remaining 11.1 million will be used to immediately start exploration and initiate a prefeasibility study on the Hasbrouck project. It looks like they intend to produce on Hasbrouck next door to our Tonopah Divide project.
http://www.4-traders.com/WEST-KIRKLAND-MINING-INC-11538217/news/West-Kirkland-Mining--Commences-Exploration-and-Prefeasibility-Study-for-Hasbrouck-Project-Nevada-18537587/

Tonogold’s 6,700 Acre Tonopah Divide project next door to the Hasbrouck 3,000 Acre mine has the same type of geological terrain in an area that is historically proven to be high yielding in gold and silver assets. The Hasbrouck mine was previously owned by Allied Nevada. I have the “Technical Report” that Allied Nevada did on Hasbrouck dated April 11, 2012. That report states that there are “Inferred mineral resources of 1.2 million ounces of contained gold and 29.3 million ounces of contained silver…” contained in the Hasbrouck mine.

Based on the Friday 8/30/14 NY gold spot at $1,287 (bid) and the silver NY spot at $19.46, the numbers come out like this: Gold, 1,200,000 ounces X $1,287 = $1,544,400,000. Silver, 29,300,000 ounces X $19.46 = $570,178,000. $1,544,400,000 + $570,178,000 = $2,114,578,000. That is putting the Hasbrouck resource value roughly at 2 billion, 144 million, 578 thousand dollars.

Tonopah Divide has 223% more acres than Hasbrouck with the same geological terrain and in an area with a proven history of high yielding gold and silver resources. Multiplying the Hasbrouck numbers by 223% would put Tonogold’s Resource value at 4 billion, 715 million, 508 thousand, 940 dollars. As of the close on Friday 8/29/14 TNGL had a market cap of 10 million with a stock price at .50 cents.

I am not using these numbers to predict the future TNGL share price or market cap, but to emphasis the enormous undervaluation that currently exists at Tonogold.

IMHO Tonogold is very undervalued. Once TNGL moves forward on my previously stated top ten, I think we are going to see a huge and sudden upward movement in the TNGL stock price and market cap.

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This is my humble opinion and speculation. Please look at my past posts to understand where I am coming from. This is not a recommendation to buy or sell. Do your own DD.

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