TNG Limited

Primary ticker: ASX:TNG
Stage of development: Exploration, Development
Primary minerals: Vanadium, Titanium, Iron
Project to promote: Mount Peake

Live financials

TNG’s focus is the evaluation and development of its 100%-owned Mount Peake Vanadium-Titanium-Iron Project, in the Northern Territory of Australia. Discovered by TNG in early 2008, the Mount Peake Project comprises a
JORC compliant resource estimate of 160Mt with magnetite concentrates of 1.4% V2O5, 55% Fe and 18% TiO2, making it one of the largest of the known vanadium projects in Australia. TNG completed a DFS confirming a potential world-class project. An updated FS (Nov 2017) includes a 12% reduction in pre-production CAPEX to A$853 million, forecast life-of-mine net cash-flow of A$11.7 billion, a pre-tax NPV8% of A$4.7 billion and a reduced capital payback period of 3 years.

Management Profile

Paul Burton – Managing Director

Has over 25 years’ experience in Exploration and Mining in Australia and overseas. He is also the Technical Director of Todd River Resources Ltd; a company spun out of projects from TNG in 2017. He holds an Honours degree in Geology, a Master degree in Mineral Exploration and Mining from McGill University in Canada, and is a graduate of the Australian Institute of Company Directors, a Fellow of the Association of Applied Exploration Geochemists, and member of both the Australian and Canadian Institutes of Mining and Metallurgy, a Graduate of the Australian Institute of Directors and a Member of the British Institute of Directors.

Rex Turkington – Non-Executive Director

Is a highly experienced corporate advisor and economist who has worked extensively in the financial services and stockbroking industry in Australia, specializing in the exploration and mining sectors. He has extensive experience with equities, derivatives, foreign exchange and commodities, and has participated in numerous corporate initial public offerings and capital raisings for listed exploration and mining companies. Mr Turkington is a Director of an Australian corporate advisory company, offering corporate finance and investor relations advice to listed companies.

What is your rationale for attending 121 Mining Investment?

TNG is in discussions with parties interested in providing financing for the Mount Peake Project and likes to update investors on the recent developments.

What recent news would you like to highlight to investors attending?

04 April – Mount Peake drilling programme underway
28 March – TNG advances to Titanium Pigment trademark
20 March – Mount Peake – Darwin EIS & Mine Site MMP Progress
04 March – TNG to Consider Dual Listing on London Stock Exchange
01 Feb – Appoints Highly Experienced Australian Mining Executive John Elkington as Non-Executive Director and Chairman
13 Dec – TNG Mandates KfW Bank for Debt Finance for Mount Peake

What are your key goals for the next 3, 6 and 12 months?

12 Months:

Permitting and financing remain priorities.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

TNG is rapidly moving towards development and continue to minimise the risks for investing in TNG. We are in advanced financing discussions, have signed three life-of-mine off-take agreements for titanium oxide, iron and vanadium products and received a number of key approvals (EIA approval for mine site, Native Title Mining approval, Federal Approval for Mount Peake).
Funding is always paramount, as a company we focus on keeping overheads and expenditure low.

In a sentence, what do you think makes your company such a compelling investment?

Major project, three commodities, solid technology, good commodities supported by solid price increases and strong outlook.
Low share price and market cap. compared to DFS NPV of $4B.