I spoke Directly with Rexie about this TRR should be online Q1...

I spoke Directly with Rexie about this
TRR should be online Q1 2015
TNG holders will get a holding in TRR the ratio will be determined once TRR assets are priced.
TNG will hold all of Mount Peake V and graphite.
TNG will be a major holder of TRR.
The reasoning for split is that TNG in Rex and Paul's view has potential to be taken over and if that was to happen in short term all of the other major assets yet to truly be explored- re Mc River, Mt Hardy would also be lost, TNG current share price is also not factoring this in.

Sounds very positive for holders.
Ill hopefully find out a little more tomorrow.
Personally Paul and Rex come across and very straight shooters and very approachable.