Tando receives South African Reserve Bank approval
Tando Resources Ltd (ASX:TNO) has advised that the final pre-condition to the company’s acquisition of a 73.95% stake in the SPD Vanadium Project, being South African Reserve Bank approval, has been satisfied and the transaction is now unconditional.
Tando expects the completion of the acquisition will occur imminently.
Approximately 85% of the world’s vanadium is produced in China, Russia and South Africa.
Given the SPD Vanadium Project is located in one of these producing regions, Tando believes that it has the potential to be globally significant based on its tonnage and grade in concentrate as indicated below.
Of course, Tando is in the early stages of its development, so investors should seek professional financial advice if considering this stock for their portfolio.
Analytical results pending
Only a fortnight ago, Tando identified a major new cluster of vanadium pipes at SPD.
Also, Tando announced in early August that a magnetic survey had identified a new 400 metre by 400 metre target in the north-east of the project, triggering a 15% share price rally.
The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance
Since then, Tando has mapped and sampled the target area, confirming the presence of a new cluster of vanadium pipes.
Analytical results from these samples are pending, but on-ground inspection indicated that the pipes were very similar to those already mapped and sampled.
As a result, Tando has included this cluster on the list of targets which will be drilled as part of its upcoming program.
Further, Tando believes that confirmation of the presence of this new cluster provides more strong evidence of the potential for a low cost direct shipping ore (DSO) operation at SPD.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.