TNG completes FEED study for Mount Peake vanadium-titanium-iron [email protected]↩️
By Imelda Cotton - July 26, 2021
Australian resource and mineral processing technology company TNG (ASX: TNG) has completed a front-end engineering and design (FEED) study for its wholly-owned Mount Peake vanadium-titanium-iron project in the Northern Territory...
Reuben Adams July 26, 2021
The vanadium market is in deficit until 2024. Here are seven ASX stocks to watch↩️
TNG (ASX:TNG)
MARKET CAP: $88.5 million
TNG’s mammoth $852m ‘Mount Peake’ operation expects to produce 6000tpa of vanadium pentoxide – about 3.2% of current world demand – as well as 100,000tpa of titanium dioxide pigment and 500,000tpa of iron fines.
While a $852m capex project is an ambitious undertaking for $88m market cap TNG, the company has a life of mine binding offtake agreements for up to 100% of projected vanadium production.
Vanadium sales would make up about 30% of TNG’s estimated revenue.
Like AVL and TMT, TNG is now looking to finalise the rest of its approvals and bed down financing.
It is also planning to use its vanadium resources to build batteries. The company recently partnered with Singapore’s V-Flow Tech to deliver power systems underpinned by the energy storage technology.
TNG completes FEED study for Mount Peake vanadium-titanium-iron...
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