Tonogold Resources Inc (TNGL)

[joeblow110percent]

TNGL 16 July 2015 Financials

My biggest take a ways from the latest financials is that Mark Ashley is still CEO; and that Tonogold is considering walking away from their leases at Tonopah Divide and King Tonopah.

During Ashley time at LionOre Mining International (1994 – 2006) the company went from a 20 million market cap to 6.26 billion; LionOre was transformed from a dormant company into the 8th largest nickel producer in the world and attracted a lucrative buyout from Russian based Norilsk. The stock started at $0.40 cents and went to $27.50. When LionOre was sold it was valued at 6.26 billion. One thousand dollars invested would have turned into $68,750. That is a 6,875% ROI.

As far as Tonopah Divide and King Tonopah, all I can say is that I believe that precious metal prices are going to pull back further before they explode exponentially higher.

I would like to point out that the iron ore price has been destroyed. The entire mining sector iron ore, precious metals, everything mining related has been devastated. Everyone is being crushed. Minors are going bankrupt everywhere. The fact that TNGL and the Nevmex mine is Debt Free has kept TNGL alive and in the game.

The last time Barrick was under $10, Madonna’s Vogue was in
“Barrick, once the industry flag ship, now at 25 year lows.” http://www.theglobeandmail.com/report-on-business/video/video-the-last-time-barrick-was-under-10-madonnas-vogue-was-in/article25592841/

Tonogold
16 July 2015, Quarterly Disclosure Statement
http://www.otcmarkets.com/financialReportViewer?symbol=TNGL&id=141504

Pg 5, A. “…in June 2013 we hired a new CEO and shifted out business strategy to focus on acquiring and developing producing and near producing mining assets that we felt were undervalued or had growth potential.”

“Due to weakness in the iron ore price management has decided to delay recommencement of production until sign of a price correction and/or confirmation of the ability to produce a higher quality product at increased margins.”

{In the January 8, 2015 Strategic Update, TNGL announced that it is working on creating “a high-grade product containing +68% Fe.” “Additional test-work is now planned to include further grind size/recovery optimization work as well as sulfur reduction with the objective of eliminating the sulfur penalty previously imposed. In addition, we have identified and are assessing various commercial opportunities (both organically and externally) that would enable us to produce a high-grade premium product in the medium-term.” http://www.tonogold.com/s/NewsReleases.asp?ReportID=690478&_Type=News-Releases&_Title=Tonogold-Strategy-Update}

Pg 5, B “Our integration of Mil-Ler will be the primary focus of the company in the coming quarters. The primary product of Mil-Ler’s Nevmex mine is iron ore having the capacity to produce approximately 30,000 metric tones (tones) per month…”

Pg 7. “Mil-Ler is debt free.

“Having recently increased its mining fleet, mining activities will focus on advanced pre-strip in preparation for mining sustain a production rate supporting the planned 360,000 tonnes per annum of final iron ore product.”

In-situ iron grade of ~45% is upgraded to ~57% in the final product via a simple beneficiation process that involves 2 stage crushing followed by dry magnetic separation. Recover of iron is estimated at 84% with 65% of tonnage recovered.”

“GOLD NEVADA”

“As previously stated, Tonogold’s gold interest in Nevada (Tonopah Divide and King Tonopah) are no longer regarded as core assets and we have been actively assessing opportunities to maximize their value to the Company, including seeking third party interest in joint venturing the properties. To date we have been unsuccessful and the Company is now considering relinquishing the claims in order to preserve cash and to enable management to focus on other opportunities both in the US and Mexico.”


16 July 2015, Quarterly Financial Statement
http://www.otcmarkets.com/financialReportViewer?symbol=TNGL&id=141503

Pg 13. “A Closing Agreement was executed by the parties on September 26th 2014. However, the final acquisition will be completed when the Tonogold shares are issued for the MIL-LER.

TNGL the Next 6 Months
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110980454


Your Due Diligence starts here:
http://investorshub.advfn.com/Tonogold-Resources-Inc-TNGL-4288/

This is my humble opinion and speculation. This is not a recommendation to buy or sell. Please do your own Due Diligence .

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