Subsequent to our November 2017 initiation, TNG Limited (“TNG” or “the Company”) has made significant progress towards a planned mid-2018 Final Investment Decision (“FID”)for its 100% owned Mount Peake Vanadium-Titanium-Iron Project (“Mount Peake” or “the Project”), located in the Northern Territory (“NT”) of Australia.
In our view a key advance has been in the development of a simplified TiO2 pigment concentrate production circuit, to allow concentrate to be produced directly from the residue of the TIVAN™ process, rather than going through an intermediate stage. This process, which has been developed in association with lead consultants, should lead to capital and operating cost reductions, and help advance negotiations for titanium offtake (our modelling indicates that titanium products provide some 60% of the revenue of Mount Peake); securing titanium product offtake will be critical in obtaining finance for the development of Mount Peake.
