TNG is an Australian resources company focused on the evaluation and development of its 100%-owned Mount Peake Vanadium-Titanium-Iron Project, located in the highly prospective Arunta Geological Province some 80km north-east of Alice Springs in the Northern Territory.
Discovered by TNG in early 2008, the Mount Peake Project comprises a current JORC Indicated Resource of 160Mt grading 0.28% V205, 5.3% Ti02 and 23% Fe, making it one of the largest of the known vanadium projects in Australia.
The updated FS has achieved a new pre-production Capital Expenditure (CAPEX) of A$853 million representing a significant decrease of A$117 million from the 2015 DFS CAPEX of A$970 million, due primarily to the optimisations achieved during the past 18 months. The financial model has shown an increase in the Project’s pre-tax internal rate of return (IRR) to 44% (up from 41%) on with only a moderate increase in forecast Operating Expenditure (OPEX) from A$167 to a$185 per tonne of ore processed2 and a reduced payback period of 3 years.
The project is strategically located close to existing infrastructure, including the Alice Springs-Darwin Railway, Stuart Highway and the new LPG pipeline, 20km to its east.
Vanadium is a “miracle metal” which is used to impart strength, hardness and water resistance to steel, in the manufacture of titanium alloys used in jet engines, airframes and other high-end specialty materials, and in the chemical industry, notably in batteries, plastic, glass and pigments.
Steel accounts for over 85% of vanadium demand, with consumption predicted to increase at similar rates to the growth of the global steel industry – driven by the rapid expansion of the Chinese economy and growing per capita use and intensity of use of steel in the BRIC economies (Brazil, Russia, India and China).
TNG’s other assets include a 20% free-carried interest in the Cawse Extended Project, convertible to a 2% net smelter return, which is located adjacent to the Cawse Nickel-Cobalt Operation in Western Australia.
TNG is listed on the Australian Securities Exchange (Ticker: TNG) and also on several European Bourses including Frankfurt.
TNG's Board of Directors and management team have extensive experience in the mining and exploration industries – both in Australia and internationally. They are committed to increasing shareholder value by carrying out exploration and maximising the Company’s leverage to discoveries.