https://www.miningweekly.com
Design|Engineering|PROJECT|SMS
Design|Engineering|PROJECT|SMS
design|engineering|project|sms

TNG raises A$3.8m from shareholders

8th November 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Strategic metals company TNG has raised A$3.8-million through a share purchase plan (SPP), with the funds to be used to progress development activities at the Mt Peake vanadium/titanium/iron project, in the Northern Territory.

TNG on Thursday reported that more than 35.4-million shares were placed at a price of 10.9c each, under the SPP, which allowed shareholders to subscribe for up to A$15 000 worth of new shares.

“This is an excellent result which reflects both the strength of our share register and the quality of our key asset,” said TNG MD Paul Burton.

Burton said that the proceeds from the raising will be used to further strengthen the company’s balance sheet, and to progress key pre-development activities ahead of a final investment decision at Mt Peake.

TNG recently appointed engineering group SMS to start front-end engineering and design for the Mt Peake project.

Mt Peake is forecast to produce 243 000 t of high purity vanadium pentoxide, 3.5-million tonnes of titanium pigment and 10.6-million tonnes of iron oxide over a 17-year mine life.

Edited by Creamer Media Reporter

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.197 0.244s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: