Australian (ASX) Stock Market Forum

TON - Triton Minerals

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Unfortunately those days of 750% gains are well and truly gone. Well done for selling out. Ton shares have been in free fall for 6 months now, unfortunately it looks like its going to continue and most likely the shares will dip into single figures again. The LSI facility looks like a draw down. The terms ton have are not too bad, apart from the fact LSI cant have more than 20% of ton stock at one time. In essence as the deal is for 20m of stock, and the market cap is 50m, it wont take long for LSI to get to this 20% barrier, and then its forced to dump shares. therefore causing the share price to be weaker. Strange deal
 
  • Price up
  • Volume up
  • Momentum up
looks like a base has formed.
If I'm wrong and it drops back to 15.5, I'll stop out.
Conversely, 21 and 25c will confirm the new move and invite a top-up.

TON pm 17-02-15.gif

Warning: Graphite is still very speculative, so DYOR.
 
Greenscreen said:
Any thoughts about this TON move? Seems so strong and finished on it's high. Thinking of buying on Monday.
Click to expand...
I would just wait to see how it trades out for the next few weeks. Wait on a few more importants ann's to know what is ihappeneing
They scored a material now a matter of knowing what to do with it.
 
Skatter said:
I would just wait to see how it trades out for the next few weeks. Wait on a few more importants ann's to know what is ihappeneing
They scored a material now a matter of knowing what to do with it.
Click to expand...

Before leaving on holiday, I left a profit stop sell order at 33c, which was taken out on the 25th. Didn't complain.

TON 09-04-15.png

I firmly believe that the spike on April Fools' Day was a knee-jerk reaction that saw profit takers take advantage of exuberant amateurs. Happens all the time.
So I waited for the dust to settle and as I'm back on Deck this week, I started some smallish day-trades on Wednesday. Even held a few over into today on the assumption that the earlier sellers may want to restock. Also note the recent 3B's. Unlisted options are usually held by people that are a little closer to "the coal face" than us mere mortals.
(a VSA aficionado suggested that the two recent green candles appear demand-driven.)
 
Doing a Phoenix. :D

As luck would have it, I saw the announcement and rebirth early enough to start accumulating from 7.3c.

TON pm 06-12-16.png

Wouldn't mind if TONOA came into the money early in the new year :cool:
 
pixel said:
Doing a Phoenix. :D
Wouldn't mind if TONOA came into the money early in the new year :cool:
Click to expand...
There may still be time for that, but seriously: I doubt it.
They might try, which would suit me and my new holding. If it stops short, a quick cap raising could be on the cards.

TON pm 17-02-17.png
 
Initially I thought 9.5c might be the resistance to hold out for.
It looks more likely now to bounce back from 8.5c. So I'm out for now with a neat profit. Shall reload when the pullback shows clear support.

TON am 23-02-17.png
 
noirua said:
Triton keep coming up with high grade drilling results. Unfortunately once again 6.3% to 10% isn't impressing the market as figures like 15% to 25% is what is being looked for. Down to 5c from 95c they might be cheap though Syrah say these type of results are too lower grade to interest them.
http://www.asx.com.au/asxpdf/20170809/pdf/43l8yznft8syny.pdf
Click to expand...

Interesting are Triton Minerals and they are one stock that helped me get back so much money lost in mistiming the mining collapse 2011 - 2015. Worth looking at in my view and raising cash in placings at regular intervals is annoying but should come to an end in the short term
 
Triton Minerals announced this morning that it has received confirmation from the Mozambique Ministry of Mines that it has successfully completed the assessment of the Ancuabe Mining Concession application and that the application has been approved and passed to the Minister of Mineral Resources for final approval and signing on behalf of the Mozambique government.

The announcement then goes on to say:
Managing Director, Peter Canterbury, said Ministerial approval is the final step in the mining concession application process and a critical step in enabling Triton to secure funding for the Ancuabe Graphite Project in Mozambique.

"The Board is extremely pleased that the government of Mozambique has supported the development of this world class asset. Mozambique has a long and proud history of mining and both regional and national government bodies have been extremely supportive during the permitting process further reinforcing that Mozambique is a premier location for mining in East Africa. Importantly this progress in the Mining Concession greatly assists in the finalising of our financing discussions"
Click to expand...

After a long and painful fall from a high of 12c to a low of 3.9c over the last 12 months, there may be hope for TON after all. It sounds like now that the mining application has been approved financing will fall into place fairly easily.

TON up 17.95% to 4.6c so far today.

big.chart-TON.gif
 
Triton Minerals has announced today that Mozambique's Minister of Energy and Natural Resources has granted the Mining Concession for the Company's Ancuabe Graphite Project in the Cabo Delgado province in Northern Mozambique.

Upon completion of the funding package for Ancuabe, Triton anticipates commencing design work, mobilisation to site and construction immediately.

TON is up 11.36% to 4.9c today and has mostly been trading in a range between 4c and 5c for the last six months. It now looks like it may be ready for the next leg up.

big.chart-TON.gif
 
Triton Minerals looking like it's staying above resistance at 5c. No news of any note since 6 May, but TON is holding up very well. This morning it is up 21.15% to 6.3c.

My feeling is that there is an expectation that the funding package for the company's Ancuabe Project will be finalised soon and, as foreshadowed in the announcement on 6 May, following this "design work, mobilisation to site and construction" are to commence immediately.

This is one to watch in the short term IMO. I can't shake the feeling I should have picked it for the June competition.

big.chart-TON.gif
 
TON making good ground today after announcing that Major Chinese State Owned Enterprise, Jinan Hi-Tech, has agreed to acquire Shandong Tianye Mining's 19.3% shareholding in Triton for total consideration of A$11.0 million at 6.2 cents per share, subject to Chinese regulatory approval.

Jinan Hi-Tech has also agreed to subscribe for A$8.5 million in Triton at 4.1 cents per share, subject to Triton shareholder approval. Jinan Hi-Tech will hold 34.01% of Triton at the completion of both transactions.

The Chinese are all over Triton Minerals. I smell a takeover at some point this year.

Chinese production of large flake graphite is threatened by lower grades, higher costs, diminishing flake size and environmental concerns. Graphite is a key component of the Lithium Ion Battery. It doesn't take a genius to figure out that China will be looking to secure as much supply as possible.

TON's Ancuabe Graphite Project in Mozambique ticks a lot of boxes. It's close to ports and infrastructure and is in a Chinese friendly jurisdiction. With production slated to commence next year I reckon the Chinese are going to want their hands on TON.

Watch for accumulation here. It's going to be hard to keep the lid on this one IMO. Up 20% to 6c so far today.
 
themarketherald.com.au

Triton Minerals (ASX:TON) and Shandong Yulong re-commit to Ancuabe development

Triton Minerals (ASX:TON) has formally re-committed to the development of its Ancuabe project in northeastern Mozambique.
themarketherald.com.au themarketherald.com.au
Triton Minerals (TON) has formally re-committed to the development of its Ancuabe project in northeastern Mozambique.

The project lies within the proven graphite region of Cabo Delgado.

As per a definitive feasibility study (DFS) completed in 2017, Ancuabe is considered by Triton to be a “globally significant” graphite development project with strong potential economic returns, including a pre-tax net present value of US$298 million and an internal rate of return of 37 per cent.

Live price chart: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^TON&p=5&t=1
 

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