Tonogold Resources Inc (TNGL)

[joeblow110percent]

62% IO Jumped 19% to $63.74 a Metric Ton…

I am speculating here but it looks to me like between producing a higher grade iron ore and the iron ore spot price exploding higher, we are getting into a range where iron ore mining at the Tonogold NevMex mine will be profitable. Tonogold could soon be a producing and profitable mining company.

Iron Ore Jumps Most on Record as Market Goes 'Berserk' http://www.bloomberg.com/news/articles/2016-03-07/iron-ore-jumps-most-on-record-as-market-goes-berserk-on-china

“Ore with 62 percent content delivered to Qingdao jumped 19 percent to $63.74 a dry metric ton, …”

January 08, 2015
Tonogold -- Strategy Update
http://www.tonogold.com/s/NewsReleases.asp?ReportID=690478&_Type=News-Releases&_Title=Tonogold-Strategy-Update

“Optimization strategies
We are currently assessing a number of project optimization strategies including those that could provide significant benefits from milling and wet magnetic separation. In this regard, we have recently conducted, through an independent laboratory in Hermosillo, initial test-work on the 58% Fe product previously produced from the NevMex project. This test-work highlighted that by grinding the product to around 150 microns followed by wet magnetic separation, ~96% of the iron could be successfully recovered within 82% of the mass, resulting in a high-grade product containing +68% Fe being achieved. The current price for a 68% Fe product is around $90/t1 (i.e. $30/t higher than for a 58% Fe product).””

“…resulting in a high-grade product containing +68% Fe being achieved.”


Annual Shareholders Meeting June 23, 2014 (TNGL)
http://www.tonogold.com/i/pdf/AGM-June-23-2014.pdf

Page 18 of this document puts the costs of production at $55.38. The current overburden/waist mining exposes the iron ore as the Canamex road material is removed. This should further bring down the cost of producing iron ore. See the Januarry 08, 2015 Tonogold – Strategy Update:

“Site Activities
Site activities have recently re-commenced whereby we are mining approximately 250,000 cubic meters of overburden (waste), over an expected 9-month period, crushing the material and selling the product as road base under contract with a local road contractor. The net proceeds from the sale of the road base will more than cover all site costs over this period, resulting in a zero-cost waste removal program and, at the same time, expose more of the ore body in advance of a subsequent production decision.”


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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