Ann: Engineering firm engaged for Vanadium Electrolyte production, page-49

For us vested shareholders the options are key to being in the money. I won't repeat myself but my earlier
posts suggests there is enough information flow to come to move the SP and to get the options into the money.

Key is landing the refinery location by end of month as TNG have committed to. Thereafter final capex numbers for construction, product and process guarantees and provisional debt numbers would elevate TNG into development mode re-rating TNG materially.

It would be great to re-model the DFS numbers based on current product pricing, debt pricing, final capex numbers and forex etc to see a revised NPV value. I would suggest it would have moved significantly north. I would love TNG to share those types of metrics with the market!

The oppies are a calculated risk that can come home.