TNG Limited (“TNG” or “the Company”) has made significant progress, despite the effects of COVID-19, on the 100% owned Mount Peake Vanadium-Titanium-Iron Project (“Mount Peake” or “the Project”), located in the Northern Territory (“NT”) of Australia. The Project includes two components – the Mount Peake mine site located near Alice Springs, and the TIVAN® processing plant in Darwin. The Final Investment Decision (“FID”) is now targeted for mid-2021.
The key advance has been the signing of further binding offtake agreements, with the result that 100% of planned production of all product streams is now covered under such agreements. This is crucial in the financing process.