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Ann: TNG receives A$200M backing from K-SURE, page-3

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Therookie88

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01/08/22

09:14

Post #: 62845519
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Originally posted by Morry: ↑

TNG RECEIVES FURTHER FINANCIAL BACKING WITH KOREAN EXPORT
CREDIT AGENCY K-SURE ISSUING A LETTER OF SUPPORT FOR UP TO
A$200M IN DEBT FUNDING FOR THE MOUNT PEAKE PROJECT
The conditional finance support from K-SURE is another cornerstone component of the multi-source,
global funding package for TNG’S flagship Mount Peake Project
Australian resource and mineral processing technology company TNG Limited (ASX: TNG) (“TNG” or the “Company”)
is pleased to announce that it has received further conditional finance support for the provision of debt funding for
its flagship Mount Peake Critical Minerals; Vanadium-Titanium-Iron Project in the Northern Territory from the
Korean official Export Credit Agency (“ECA”) Korea Trade Insurance Corporation (“K-SURE”).
The Letter of Support from K-SURE provides confirmation of their interest in participating in the funding of the
Mount Peake Project up to an amount of A$200 million.
K-SURE is the Republic of Korea’s official ECA under the Ministry of Trade, Industry and Energy and its involvement
followed after Australia and the Republic of Korea entered into a Memorandum of Understanding on cooperation
in Critical Minerals Supply Chains in December 2021.
The conditional Letter of Support received from K-SURE follows on from the recent receipt of Letters of
Support/Interest from German and Australian ECAs totalling A$600 million, taking the total in conditional interest
from Australian, German and Korean Government backed funding sources for the Mount Peake Project to up to
A$800 million (see ASX Announcements of 8 July and 19 July 2022).
In addition to this up to A$800 million of Government-related funding interest, TNG has received expressions of
interest from seven Australian and International Commercial and Investment Banks for financing the commercial
component of the debt for the Project (see ASX announcement, 19 July 2022). With the combination of the
significant government-related funding and the substantial interest received from the commercial debt market, the
Company is confident that its project financing strategy for Mount Peake is firmly on track.
K-SURE’s support for Mount Peake was achieved given the long-term off-take agreement signed with South Korea’s
WOOJIN IND. CO. (“Woojin”) Ltd for up to 60% of Mount Peake’s forecast life of mine vanadium production. Woojin
Key Points
• The Korean official Export Credit Agency Korea Trade Insurance Corporation (“K-SURE”) has issued a
conditional Letter of Support for the provision of up to A$200 million in debt funding for TNG’s Mount
Peake Vanadium-Titanium-Iron Project in the Northern Territory.
• TNG has now received a total of up to A$800 million in conditional Letters of Support/Interest for the
Mount Peake Project from Australian, German and Korean Government backed funding sources.
• The Letter of Support from K-SURE builds on the December 2021 Memorandum of Understanding on
Cooperation in Critical Minerals Supply Chains, signed between the Republic of Korea and Australia.
• KPMG Corporate Finance and Germany’s KfW IPEX-Bank GmbH continue to support TNG in achieving these
landmark financing milestones.

Expand

hilarious never seen so many news items in such a short period. remember there's are all "upto" amounts and "conditional". what's TNGs record with MOUs? they don't even know the capex yet!

vote this flop out don't let the smoke and mirrors fool you

TNG Price at posting: 8.7¢ Sentiment: None Disclosure: Not Held
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Ann: TNG receives A$200M backing from K-SURE, page-3

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Ann: TNG receives A$200M backing from K-SURE, page-3

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