That key looks identical to the ones that came with the Valeo ignition key barrel I bought as a spare for my Roadster Tony. It was from a Rover 820/825/827 series 1992 - 1999 and Land Rover as well. I assumed if needed I could recover the original transponder slug(s) and drill the plastic in new keys to accept as you suggest. There was a tag on the supplied keyring with presumably the four digit cutting code pre-fixed with letter T.
