PowerPoint Presentation
Annual General Meeting
Company Presentation
2015 - A Year of Achievement in a Challenging Environment
Paul Burton, Managing Director
Celtic Club, West Perth - 30 November 2015
Disclaimer
Forward-Looking Statements
This presentation has been prepared by TNG Ltd. This document contains background information about TNG Ltd current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.
This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of TNG Ltd shares in any jurisdiction. This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.
This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, TNG Ltd, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of TNG Ltd. Actual values, results or events may be materially different to those expressed or implied in this presentation.
Competent Person's Statements
The information in this report that relates to the Mount Peake Mineral Resource estimates is extracted from an ASX Announcement dated 26 March 2013, (see ASX Announcement - 26 March 2013, 'Additional Information on the Mount Peake Resource', www.tngltd.com.au and www.asx.com.au ), and was completed in accordance with the guidelines of the JORC Code (2012). Initial mining and financial assessment work, based on the Mineral Resource,
followed (see ASX Announcement - 15 July 2013, 'TNG Considers Two-Stage Development Option for Mount Peake Project, NT ', www.tngltd.com.au and www.asx.com.au).
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resource estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are represented have not been materially modified from the original market announcement.
The information in this report that relates to the Mount Peake Ore Reserve estimates is extracted from an ASX Announcement dated 31 July 2015, (see ASX Announcement - 31 July 2015, 'Mount Peake Feasibility Study Confirms a World-Class Project', www.tngltd.com.au and www.asc.com.au) and was completed in accordance with the guidelines of the JORC Code (2012). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Ore Reserve estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are represented have not been materially modified from the original market announcement.
The information in this report that relates to Exploration Results and Exploration Targets for Mount Peake and Mt Hardy projects are based on information compiled by Exploration Manager Mr Kim Grey B.Sc. and M. Econ. Geol. Mr Grey is also a member of the Australian Institute of Geoscientists and a full time employee of TNG Limited. Mr Grey has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Grey consents to the inclusion in the report of the matters based on his information in the form and context in which it appear.
Production Targets and Financial Information
Information in relation to the Mount Peake Definitive Feasibility, including production targets and financial information, included in this report is extracted from an ASX Announcement dated 31 July 2015, (see ASX Announcement - 31 July 2015, 'Mount Peake Feasibility Study Confirms a World-Class Project', www.tngltd.com.au and www.asx.com.au). The Company confirms that all material assumptions underpinning the production target and financial information set out in the announcement released on 31 July 2015 continue to apply and have not materially changed.
2015: A Pivotal Year in TNG's history
Key Achievements:
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Completion of Feasibility Study (DFS) for Mount Peake Project with outstanding results - $4.9 billion NPV, 41% pre-tax IRR
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Completion of commercial testwork on TIVAN® refinery process with exceptional recoveries - flow-sheet finalised
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Maiden Ore-Reserve completed for Mount Peake Project
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Binding off-take agreement signed for vanadium and binding term sheets in progress for iron and titanium products
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Long-term water source discovered for Mount Peake operations
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Engineering group appointed for mine site permitting and design - EIS submitted to regulatory authorities
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Funding and development discussions well advanced with a portfolio of Tier-1 global partners
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12-year Davis Samuel Matter settled with Commonwealth on judgment and costs
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~$8M raised during the year via institutional placements and option conversions: solid cash position at year-end of ~$5.5M
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Market capitalization >$100M for most of 2015 - a 95% increase
Challenges:
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Resource sector and global commodity pricing remained very uncertain
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Availability of capital remains tight in a challenging equity market
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Demerger of base metal projects - deferred but remains the Company's corporate plan
TNG: Share price performance
Price Compared with ASX All Ords