4 August 2015
TNG Raises $4M Following Strong Option Conversion
TNG boosts cash position to over $8M after strong take-up of TNGO listed options by its shareholders
Australian strategic metals company TNG Limited (ASX: TNG) is pleased to announce a strong take-up of TNGO
listed options ($0.08) by its shareholders.
52,163,178 options have been converted since 22 June 2015 bringing, the total funds raised by the exercise of the
TNGO options to $4,173,054.
TNG's cash reserves have increased to approximately $8.1 million following the conversion of the listed options.
The Company's Managing Director Paul Burton said the additional funds further strengthened the Company's financial position as it moves into development planning and financing of its 100%-owned mount Peake Vanadium-Titanium project in the Northern Territory.
"This is a tremendous result, and I would like to thank our shareholders for their strong support of the Company and our strategy to develop our world-class Mount Peake Project," he said. "This follows the release of the Mount Peake Feasibility Study last Friday which outlined an extremely robust, long-life project that will deliver exceptional returns."
Paul E Burton
Managing Director
4 August 2015
Inquiries:
Paul E Burton
Managing Director + 61 (0) 8 9327 0900
Nicholas Read
Read Corporate + 61 (0) 8 9388 1474
ASX CODE: TNG
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REGISTERED OFFICE
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T +61 8 9327 0900
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W www.tngltd.com.au
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ABN 12 000 817 023
Shares on issue: 621.8M
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Level 1, 282 Rokeby Road
Subiaco, Western Australia 6008
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F +61 8 9327 0901
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E [email protected]
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Forward-Looking Statements
This announcement has been prepared by TNG Ltd. This announcement 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.
This is for information purposes only. Neither this nor the information contained in it constitutes an offer, invitation, so licitation or recommendation in relation to the purchase or sale of TNG Ltd shares in any jurisdiction. This 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, estim ates, forecasts or other representations contained in this announcement. No responsibility for any errors or omissions from this arising out of negligence or otherwise is accepted. This 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.
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