BRR tomoz, page-3

A gentle reminder to all...

PB as quoted from MiningNews 14 June 2016 said inter alia:

"As TNG transitions towards development at Mount Peake, Burton said investors could expect to see a series of announcements in the coming months.

“We’ve got a lot happening,” he acknowledged.

“There’ll be a number of project development announcements and we’re looking at adding to the board composition and key executive personnel.

“And the key items are the remaining offtake agreement, finalising the finance consortium, and the future of our non-core assets."

I know some SH get frustrated with PB, but 7 weeks on from this announcement he has ticked off a number of these key boxes:

* The strategic relationship with SMS has been further consolidated;
* TRR demerger & potential timetable for IPO & boots on the ground has been announced;
* Key significant technological advances in the downstream TIVAN process to deliver improved vanadium recoveries and yields and potentially transformational OPEX and CAPEX reductions @ $50m pa ++ has been announced.

I am intrigued that the SMS Group Managing Director is currently spending time with PB in OZ.
Herr Weissenbaeck would be a very busy man, so we can but speculate as to the potential global reach & competitive advantage that Tivan technology will give SMS (royalties for TNG).

Perhaps SMS is looking to consolidate its future global footprint to more broadly include OZ?

I would speculate that the odds have now shortened on the Board composition including an SMS member?

So, from the 14 June checklist, that leaves finalising both the finance consortium & the offtake agreement for Titanium Dioxide. Add to this the completion of the EIS with the NT Govt (could be tricky with the NT elections 2 weeks away) & the months between now & the AGM look very exciting indeed.

So, we can say that PB has ticked many of the boxes he presented to SH on 14 June.

It would be great to see the Feds (Friedenberg) give TNG a kick along as a "smart" mining project.

This is a BIG project...when we assess our project progress, it seems to me that patience is really our enemy, not whether we will get to production.

Jvest