TNG Limited's Mount Peake strategic metals prospect, 250 kilometres northwest of Alice Springs, is now one step closer to becoming a mine.
A positive feasibility study indicated a four-year pay back period and a pre-tax internal rate of return of 41 per cent.
These and other finding caused managing director, Paul Burton, to feel confident about obtaining funding.
"Getting the project's finance in place over the next few months really is my aim," he said.
Mr Burton said the Mount Peake project also included a Darwin refinery after the company decided against overseas options.
Products that will come from the mine and refinery, said Mr Burton, include pigment titanium, pig iron (used in smelting iron ore) and vanadium pentoxide.
He said pigment titanium was used in all kinds of products such as whitegoods and paint, but vanadium was used both for strengthening steel and in rechargeable batteries.
"We are seeing a lot more of those being built around the world.
"Sumitomo in Japan are building the world's largest.
"It's a 20 megawatt battery the size of a four storey building.
"These [batteries] are the missing link for wind power and solar energy that require people to 'use it or lose it' at this stage.
"Now you can use that power at night or at times of peak demand and that is the way of the future.
"Vanadium far surpasses potentially what can be used in the lithium sector and we will be one of the few high purity vanadium pentoxide producers in the world."
Mr Burton said it was important to have the right products for investors "these days" and that the downturn in the iron ore price was causing capitalists to look for better options.
He said he envisaged that the Mount Peake would be a major project in the Northern Territory and a significant employer.
"There will be a construction camp of a about 350 people to construct the mine," he said.
"In operation that will probably be reduced to about 150 people.
"For the refinery a similar amount of people will be required in the build phase and then down to 120 people for the refining operation."
If everything aligns correctly, Mr Burton said construction would begin in early 2016.
"We should allow ourselves a conservative 24 month build time, with completion and first production in 2018," he said.
The TNG Limited Mount Peake feasibility study noted an initial 17-year project life.
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