Page 4 of TNG's announcement on Hyundai's MOU had this to say:...

Page 4 of TNG's announcement on Hyundai's MOU had this to say:

“Securing the backing of Hyundai Steel, potentially through a cornerstone investment (CI) in the
Company or the Mount Peake Project, represents a major step forward for TNG and Mount Peake
and gives us access to a powerful global conglomerate with the ability to assist us in funding and
completing the Definitive Feasibility Study and, ultimately, financing and constructing the Project."

Please note that the CI may be in TNG itself or in TNG's Mount Peake Project only. If it is for the latter, it may mean that TNG may make the MP Project into a separate company and the holders of TNG may get shares in it. That would leave the other parts and resources of TNG in TNG.

If that were the case, some valuation would be put on the MP Project and the separate entity might be applying to be listed on the ASX. IMO that would create value for TNG and its holders.

Just my thought on the matter. DYOR

PS The fact that the announcement included the following words would raise the above possibility:

"....... a cornerstone investment in the Company or the Mount Peake Project........."