+++++++++++++++++++++++++ Tiger has completed a placement of 2,000,000 fully paid ordinary shares together with 2,000,000 free attaching options to raise $100,000 for the purpose of continuing its resources exploration activities and general working capital. The issue of the placement options referred to is subject to shareholder approval.
Recent months has seen a continuation of World events that suggest the security and defence sectors will remain buoyant for some time with particular emphasis on counter terrorism, with the elimination of weapons of mass destruction and surveillance as key drivers within those sectors. Recent publications such as the September 2002 issue of Popular Science, "The New War in Space," and continued sensitivity in various world trouble spots indicate that Tiger's ALTRAV system is well placed to fill a niche in emerging space systems development.
Work on potential testing programs is near completion and it is planned these be discussed with Australian Defence officials and Government agencies in Canberra before the return visit to the United States. The aim of these discussions will be to determine Australian interest in developing a cooperative testing program with the United States of America for Tiger Defence Systems and to examine potential linkages into existing and emerging Australian Defence programs and capabilities.
Mr Des Mitting is planning a return visit to the United States of America in November/December 2002 when he will take up the invitation to brief senior personnel at the China Lake Weapons Testing Centre in California on Tiger systems. While in the United States, Mr Mitting also plans to have discussions with Defence officials about potential testing programs for Tiger Defence systems (Directed Energy Blast and ALTRAV). He will continue to develop Tiger's profile and market penetration strategy in the USA with emphasis on Joint Venture opportunities with US companies identified during the previous visit and subsequent discussions.
Because the company's exploration tenements are located on private farm land in the South West (WA) exploration will re-commence after the 2002 harvest is completed.
R J Collins DIRECTOR
the patient will see this tiger ROAR!!!!!!!!!!!!!! Good trading
Ytrade
TGS Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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