The Mount Peake Project is an advanced critical minerals project that is progressing through final engineering optimisation, processing approvals and confirmation of capital requirements in support of a final investment decision. The Project will be an integrated mining and processing operation, with value-add downstream processing for final products undertaken in Australia. TNG has secured offtake agreements for 100% of production with an impressive group of global offtake partners. TNG is seeking debt and equity funding for development, supported by Germany’s KfW IPEX-Bank and KPMG Corporate Finance. TNG has received a total of up to A$800 million in conditional Letters of Support/Interest for Mount Peake from Australian, German and Korean Government backed funding sources. TNG is also progressing a number of potential strategic equity opportunities.Mount Peake is a world-scale integrated critical minerals project that will produce high-purity vanadium pentoxide (V2O5), titanium pigment (TiO2) and iron fines for global markets. The Project is well advanced, with a FEED study completed, Mining Licences granted, Native Title agreement secured and mine development environmental approvals in place. Mount Peake hosts a JORC Compliant Resource of 160 million tonnes, making it one of the largest undeveloped vanadium-titanium-iron projects in the world. The project will operate a conventional open pit mine over a 37-year initial mine life, using TNG’s 100% owned TIVAN® processing technology to convert magnetite concentrate into the three high purity final products.Mount Peake has Major Project Status with both the Federal and Northern Territory Governments.Mineral inventoryCommodity(ies):Mineral Resources as at 26 March 13 (0.1% V2O5 cut-off)Ore Reserves as at 31 July 15(15% Fe cut-off)Vanadium, Titanium, IronMeasured InferredProbable118 0.29 5.50 22 0.22 4.4041.1 0.42 7.9924.00 19.0028.00TonnesV2O5TiO2FeResource Category(Mt)(%)(%)(%)Indicated200.285.3022.00Total1600.285.3023.00Contained (kt)4488,48036,800TonnesV2O5TiO2FeReserve Category(Mt)(%)(%)(%)Total41.10.427.9928.00Contained (kt)1733,28411,508Project StatusPre-ConstructionOfftake AvailableNoMin Mine Life (Yrs)37Pre-tax IRR:Currently being updatedCapital Cost:Currently being updatedPre-tax NPV:Currently being updatedProduct & Annual Production Rate• Vanadium Pentoxide:6,000 tpa• Titanium Dioxide Pigment: 100,000 tpa• Iron Oxide: 500,000 tpaAustralian Critical Minerals Prospectus 2022 77VVanadium
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