Ann: TNG Executes Binding Offtake terms for its Titanium Pigment, page-47

Gunvor & DKSH marketing as much as traders.
DKSH have a wide range of pigments which they market/distribute :
Pigments:

• TiO2
• Carbon Black
• Synthetic Iron Oxide
• Organic Pigments
• Cadmium Pigments
• Complex Inorganic Pigments
• Lead-Chrome Pigments
• Metallic Pigments
• Pearlescent Pigments
• Pigments for security applications
• Pigments for special effects: fluorescent, photoluminescent, soft-touch
• Ultramarine Blue & Violet Pigments
• Anticorrosion Pigments

http://dksh.com/global-en/home/performance-materials/industries/specialty-chemicals

And they deal in renewable energy products


So one major positive is the vast range of future applications which are already being commercialized around Titanium & Vanadium including (in no particular order & I'm sure there are more)
Titanium Catalysts
Titanium metal powder for 3D printing
Vanadium integrated into windows
Vanadium coatings for stealth applications
Vanadium electrolyte for VRFBs

So they have the contacts & I'm sure would be looking at many of the prospective markets producing the above amongst their existing clients as well as new opportunities

Aside from that, I think anything TNG do now in light of the 249D will be taken cynically. It's certainly where my thinking is at. ie. is the 6 month time frame in this term sheet once again deja vu - that all it is doing is buying more time.