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TNG Ltd.
Summary
| Project: | Mount Peake | |
|---|---|---|
| Deposit: | Mount Peake | |
| Location: | Australia | |
| Commodities: | Iron-Vanadium-Titanium | |
| Date: | 9/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-9-2019: TNG Ltd. announces a Optimisation Study report for its Mount Peake deposit at the Mount Peake project. Optimised Mount Peak project deliver strategy. Australian strategic metals company TNG Limited (ASX: TNG) (“TNG” or the “Company”) is pleased | |
| Resources: | (Reserve, P+P): 41.1Mt @ 0.42% V2O5, 7.99% TiO2, 28.0% Fe | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Australian strategic metals company TNG Limited (ASX: TNG) (“TNG” or the “Company”) is pleased to advise that as part of the ongoing Front-End Engineering Design (“FEED”) process for its Mount Peake Vanadium-TitaniumIron Project (“Project”) in the Northern Territory, it has optimised its planned execution and delivery strategy for the Project, delivering savings and reductions in upfront capital costs while maintaining robust economics. As part of the Company’s continued focus on reducing pre-production capital expenditure for the Project, and after considering and benchmarking various alternative scenarios, a development strategy based on an initial production rate of 2 million tonnes per annum (“Mtpa”) ore throughput at the Beneficiation Plant, corresponding to 100,000 tonnes per annum (“tpa”) of TiO2 pigment, has been selected by TNG and its advisors. This follows a detailed financial analysis of the revised mining schedule (see ASX announcement dated 19 August 2019). The revised mine schedule was completed by Snowden Mining Industry Consultants (“Snowden”) over several iterations driven by progressively more detailed information becoming available as results of the FEED and other engineering/infrastructure activities are received. | |
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