ASX ANNOUNCEMENT
24 August 2015
TNG RECEIVES TRADITIONAL OWNER CLEARANCE FOR MOUNT PEAKE ACCESS AND INFRASTRUCTURE DEVELOPMENT
Discussions continuing for Native Title Mining Agreement which is expected to be completed shortly
Key Points
TNG receives Central Land Council Sacred Site Clearance Certificate for the Mount Peake Mine
Tenements including the mine and site infrastructure, camp, haul road and rail siding.
The Clearance is a significant step in the Land Access process, whereby Traditional Land Owners have paved the way clear of Sacred Site Heritage for development of the Mount Peake Operations to proceed.
TNG is also in negotiations with the Central Land Council to reach a Native Title Mining Agreement with the Traditional Land Owners, which is expected to be completed shortly.
TNG conveys its sincerest thanks to the Traditional Land Owners and the CLC for their engagement and participation in the Mount Peake Sacred Site Clearance.
Emerging strategic metals producer TNG Limited (ASX: TNG) is pleased to advise that it has received a Sacred Site Clearance Certificate from the Central Land Council (CLC) for the mine and associated infrastructure required for its flagship 100%-owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory.
The CLC is the legal representative of the Traditional Owner Group (TOG) for the proposed Mount Peake mine area. Clearance work was conducted by the CLC during the past few months and, following approvals from the TOG, has issued TNG with the approved certificate.
This Certificate provides approval and clearance for TNG to construct the open cut mine, camp facility, haulage road, access road and rail siding at Mount Peake, as shown in Figure 1.
This paves the way for TNG to conclude negotiations with the CLC for the Mining Agreement, after which the
Mining Licence can be issued by the Northern Territory Minister for Mines, the Hon David Tollner.
TNG's Managing Director, Mr Paul Burton, said the granting of the Sacred Site Clearance Certificate by the Central
Land Council was another important milestone for the Mount Peake Project.
"We have developed a good relationship with the CLC and the TOG and I'd like to thank them for their approval, which we hope will be beneficial for all stakeholders as this major new resource project for northern Australia advances towards financing and development," Mr Burton said.
TNG completed a Definitive Feasibility Study (DFS) on the Mount Peake Project last month (see ASX Announcement - 31 July 2015) which forecast that the project would generate a pre-tax internal rate of return (IRR) of 41% based on a pre-production capital cost of A$970 million, total estimated life-of-mine net cash flow of A$11.6 billion and operating cash flows of A$13.6 billion over an initial 17-year project life.
Paul E Burton
Managing Director
24 August 2015
ASX CODE: TNG REGISTERED OFFICE T +61 8 9327 0900 W www.tngltd.com.au
ABN 12 000 817 023 Level 1, 282 Rokeby Road F +61 8 9327 0901 E [email protected]
Subiaco, Western Australia 6008
Inquiries:
Paul E Burton
Managing Director + 61 (0) 8 9327 0900
Nicholas Read
Read Corporate + 61 (0) 8 9388 1474
About TNG
TNG is building a world-scale strategic metals business based on its flagship 100%-owned Mount Peake Vanadium-Titanium- Iron Project in the Northern Territory. Located 235km north of Alice Springs, Mount Peake will be a long-life project producing a suite of high-quality, high-purity strategic metals products for global markets including vanadium pentoxide, titanium dioxide and pig iron. The project, which will be a top-10 global producer, has received Major Project Facilitation status from the NT Government.
The Mount Peake Feasibility Study was completed in July 2015, demonstrating that the Mount Peake Project will generate outstanding returns and paving the way for final approvals, project financing and development to proceed. An integral part of TNG's emerging strategic metals business its 100% ownership of the unique and patented TIVAN® hydrometallurgical process, which offers significantly lower capital and operating costs, lowers risk and successfully extracts all three valuable metals from the Mount Peake resource.
Vanadium is a highly strategic metal which is used as an alloy in steel. It is also in strong demand for use in energy storag e, with vanadium redox batteries used to store electricity generated by solar and wind power, and lithium-vanadium ion batteries used to power hybrid cars.
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,
solicitation 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 recipie nt'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 shou ld 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 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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Figure 1. Mount Peake Project location diagram showing the areas cleared by the CLC and TOG, and covered by the Sacred Site
Clearance Certificate.
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