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TNG Ltd.
Summary
| Project: | Mount Peake | |
|---|---|---|
| Deposit: | Mount Peake | |
| Location: | Australia | |
| Commodities: | Iron-Vanadium-Titanium | |
| Date: | 11/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 20-11-2017: TNG Ltd. announces a Feasibility Study report for its Mount Peake deposit at the Mount Peake project. Updated Feasibility Study results incl. pre-tax NPV (8%) of AU$4.7B, IRR 44%. Australian strategic metals company TNG Limited (ASX: TNG) is p | |
| Resources: | (Reserve, Prob.): 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) is pleased to advise that it has completed an updated Feasibility Study (FS) and Financial Model for its flagship 100%-owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory. The results of the FS reconfirm and enhance the outcomes reported in the Definitive Feasibility Study (DFS) completed in 2015 (see ASX Announcement 31 July 2015). The updated results underline the Project’s strong economic and technical fundamentals are summarised in Table 1 below. 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. TNG’s Managing Director, Paul Burton, said: “This marks the culmination of a vast body of work completed over the past 18 months in conjunction with our strategic development partner, SMS Group, Como Engineers and METS. This work has also included substantial additional variability test work overseen by Como Engineers in Perth on the TIVAN® flowsheet and mine site beneficiation flowsheet, a number of important enhancements to the TIVANR flowsheet from work undertaken by the SMS Group, and further technical de-risking measures.” | |
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