TNG SIGNS BINDING LIFE-OF-MINE AGREEMENTSFOR VANADIUM PRODUCTS WITH MAJOR KOREAN GROUP
The life-of-mine off-take agreement encompasses binding commitments for WJN to take or pay a minimum of 60 per cent of the vanadium pentoxide (V2O5) and other vanadium products from Mount Peake with a minimum guaranteed price which is, based on the cost of production estimates determined under the DFS, 20% above TNG’s forecast cost of production.
Mount Peake could commence in 2016 with potential first production in early 2018, when independent commodity forecasts indicate that the price of V2O5is expected to be substantially higher than current prices.
