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Alias Born | 05/10/2014 |
Monday, June 16, 2014 5:02:51 PM
Tonogold has been working a deal to buy 100% of the iron ore mine. I don’t know the details of that deal but am expecting that to be announced, likely at the 6/23/14 shareholders meeting. The deal will likely be a combination of cash paid by Tonogold to the current owners, along with some Tonogold stock. If the shareholders vote at the meeting to increase the number of post reverse split shares to two hundred million (200,000,000) some of those shares will be used in the purchase of this iron ore mine.
The May 8, 2014 press release said that they would need a total of post reverse split 102,800,000 shares to close this deal. I am guessing that they are going to use the additional 97,200,000 shares to purchase future projects as they become available. It has been stated in numerous Tonogold documents and at meetings that a goal of TNGL is to acquire additional assets as they become available. Doing this will increase our market cap and put upward pressure on our stock price. Our goal is to take TNGL off of the penny stock pink sheets and turn it into a World Class Major Mining Company listed on a higher exchange.
Eddie Sugar, who owns EAS Advisors has recently endorsed Tonogold and is helping us raise the capital needed to close this deal. See the Tonogold May 8, 2014 press release: http://www.tonogold.com/s/NewsReleases.asp?ReportID=652171&_Type=News-Releases&_Title=Tonogold-To-Acquire-100-Of-Iron-Ore-Project-Mexico Sugar has been involved in tens of billions worth of successful deals. He is a legend in Wall Street who is very well respected, connected and at the top of the Wall Street food chain when it comes to resource deals. Sugar is familiar with iron ore deals, having funded Andrew Forrest in 2003 when Forrest started Fortescue Metals Group Ltd, ticker FSUGY, $7.63 on 6/16/2014 with an 11.9 billion market cap. That deal turned 200 million into near 17 billion. Sugars endorsement of and involvement in Tonogold takes us to a whole higher level that (as far as I know) no other pink sheet junior mining company can lay claim to. See some of Sugars background here: http://investing.businessweek.com/research/stocks/people/person.asp?personId=118598545&ticker=WTG:CN
Here is a link to the Tonogold web site: http://www.tonogold.com/s/Home.asp
You can look at numerous PDF’s and press releases here.
Here is a link to the OTC Markets web site. Enter in Tonogolds symbol “TNGL” and click on “Filings & Disclosures”. You will find a lot of good information about Tonogold on this web site. http://www.otcmarkets.com/stock/TNGL/quote
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