Morry, from what i can see Paul Brown is a very astute person with years on his side. Brought up in Mining investment and not afraid of formality or stating how he see it. Someone like him would make a great board member, doesn't need the job, not scared of bottom to top review, good analysis and savvy.
I suspect that TNG as it currently presents wouldn't be attractive to many experienced potential board or chair candidates. The commodity market looks set to reset and in sure there are plenty of easier positions out there to attract suitable applicants.
IIf w position opened up it would take a person with vision, not jaded by time and experience after all the future for vanadium production and titanium pigment markets is not something that the markets have experienced before. It's a new era. That is part of the struggle the new primary V projects are facing. More so for TNG with its TIVAN multi commodity business model. Conservative traditional thinking doesn't easily sit with a Mining project that extracts and refines to specific requirements a multitude of commodities.
This advanced frontier like project I suspect, will become the norm in the future but till now mines produced iron and in making steel produced slag that was refined by a secondary entity for vanadium. Sands were smeltered/processed and after reaching a level of purity were transported to titanium refineries for further processing into pigments or specialist metal alloys.
Largos started its production in its V project c 2014 and one has to go back some 30 years to find another dedicated V producer (as distinct from bi product producer) going into production. More recently Bushveld have pulled together a great joint venture in Vametco fero v production supply company that has benefited from current ferro vanadium prices. Bushvelds CEO Fortune Mojepelo has been a magician pulling together JVs, pulling finance fascilities out of a top hat and hitting the ground running. But asides from those two entities you have Rhovan which seems a bit player and Windimurra who has failed on two occations since its maiden production that have ventured into the primary Vanadium prodution arena. None have sort to extract the full value of their resource and the SA resources as well as the Western Australian resources are as I understand it titanomagnetite resources containing titanium, iron, silica, vanadium and other commodities.
TNG is going further than any of the other wanna be V project in its attempt to extract, refine and market to specific requirements every commodity that its titanomagnetite resource has to offer. So its ground breaking. Maybe that requires a fresh breed of director to run with TNGs clearly visionary CEO in PB. Without his imput I suspect TIVAN and TNGs relationship with SMS wouldn't be. But is he a Fortune Mojapelo or is he a brilliant geologist/ matalurgist. I dont know the answer to that.
II'm not fully researched on the Titanium pigment front but recent events have flushed out a potential off take partner in my mind. Think Chinese, think Lomon Billions. Recently created from M&A activity, 4th largest producer and distributor of titanium pigments in the globe. Recently entered into at least two take over DD exercises under MOU's but have pulled out. Have specific products from both chloride route and sulfide route production plants in China but for the last two years have had to close their sulfide route pigment refineries for periods of time to meet Govt national environmental emission control caps. Be very convenient to have a sulfide route pigment plant in Australia to suppliment its Chinese operations in down times as each produce a specific pigment application.
Long shot I know, but Ti-Cons have now settled via arbitration disputes over a turn key pigment plant op with them and coincidentally have just entered into an agreement to progress TNGs proposed pigment plant refinery.
Anyway the vanadium market is a given. Peek prices at the moment. Just add in these factors tho future demand;
1). The construction of one city in China requires c 20 to 30 million tonnes of steel. Strengthening requirements demand 30,000 tonnes of vanadium which is c 1/3d of annual global production
2). The Chinese vision to re build the "silk road" routes into central Asia, Middle East and Europe is a $900 bill project and would require a huge component of current annual demand for the foreseeable future.
3). Trumps proposed infrastructure re vamp programme requires the upgrade or replacement of 80,000 bridges throughout the USA. North America may be a steel producer but it don't have any primary V producers. Each of those bridges will require a load of vanadium for strengthening.
4). Motor vehicle production is increasing its vanadium content. Despite Henry Ford using Vanadium in his first productions, 25 years ago vanadium was not a component in motor vehicle steel, now it's in 45% of vehicles, by 2025 it will be in 80% of vehicle steel.
5). The Energy storage sector is ready to rocket. This is an unknown but potentially stratospheric demand factor.
Don't you think these factors are why Todd Corp through its subsidiary BBI are taking a $6 bill punt on the Pilbara project including rail and port development. Not only do they know that the global demand for iron will make the investment pay returns but that each tonne of iron used will require a % of vanadium to make that compliant alloy. And just to add some cream on the cake TNG will provide the commercial mechanism through TIVAN to enable BBI to commercialize it Titanomagnetite reserves and receive royalties for the trouble.
So what I'm trying to say is I am so disappointed that this potentially global trend setting multi commodity producing company, yes TNG, is a market dog at the moment. It should be so hot but no its at its lowest SP so many years I can't bear to look.
Sort this shite out BoD. You know it's TNGs time. You been saying it for years but now it really is. We mum and dad investors put our savings with you, our children's futures in your hands. Now meet the trust we bestowed in you by grabbing the day and closing this deal. Get over your egos and put in place a board we can be proud of.
Paul Brown put your hat in the ring. You get my vote.
(20min delay)
