Another Step In Development Of World Cladd Vanadium-Titanium Mine
Australian resource and mineral processing technology company TNG Limited (ASX: TNG) has appointed KPMG Corporate Finance, a division of KPMG Financial Advisory Services (Australia) Pty Ltd, as its Financial Advisor for project financing of the development of its flagship 100%-owned Mount Peake Vanadium-Titanium-Iron Project the Northern Territory.
The KPMG Corporate Finance mining team will provide advice in delivering an optimised funding strategy for the Mount Peake Project that maximises value to existing shareholders.
The KPMG team will advise on and assist the company in the execution of the debt funding process, sourcing and execution of equity funding, progressing of terms and financing documentation, and navigating the comprehensive project financing due diligence process.
KPMG Corporate Finance has recent experience working on other project financing deals with Germany’s State- owned development bank, KfW, export credit agencies and NAIF, and is familiar with their funding processes and requirements.
TNG has previously mandated KfW as its exclusive senior debt advisor and arranger and the company has made a formal application to NAIF for participation in project funding.
KPMG Corporate Finance will also provide advice and assistance on options for the equity financing currently being actively progressed and evaluated by the company.
TNG’s Managing Director & CEO, Mr Paul Burton, said the appointment is a significant advance for the world-class Mount Peake Project.
“The KPMG team’s expertise in global mining projects, very strong track record of major transaction achievements in Australia and globally, and existing relationships with anticipated lenders KfW and NAIF, adds credibility and is a positive mark to achieve the optimal financing outcome for the Company and its shareholders. “The appointment adds to list of Tier-1 partners involved with the Mount Peake Project, providing the best chance for project delivery.”
