TNG Timeline

A timeline of sorts, that explains to me, why TNG is where it today.  Doesn't include everything like NT delays and the collapse of the V price in 2016.  Thought it might help others in their research.  These are snippets from announcements at the time.


2011

“TNG forms strategic partnership with ECE to underpin development of Mount Peake Iron-Vanadium Project, NT.
Agreement encompasses technical collaboration between TNG and ECE via ECE’s wholly owned subsidiary in Darwin.”

“The subscription agreement – between TNG and ECE subsidiary Ao-Zhong International Mineral Resources Pty Ltd (“Ao-Zhong” and a private investor introduced by ECE, Aosu Investment and Development Co Pty (“Aosu” – was signed in Tianjin, China last night as part of the 2011 China Mining Conference.”


“I would like to thank ECE for the extremely positive and professional way in which they have conducted the negotiations leading to the formation of this very significant Strategic Alliance and partnership, which we expect will continue to develop as TNG works towards the development of a world-class strategic metals business in the Northern Territory,” Mr Burton said.


“ECE will be offered two non-executive board positions, including non-executive chairperson of TNG, to be appointed at a board meeting following completion of the transaction”


2015

“TNG Limited (ASX: TNG) advises Mr Jianrong Xu has resigned as a Director. Mr Xu has been a Director of the Company since 24 May 2012 following an investment made in the Company by Ao-Zhong International Mineral Resources Pty Ltd, a subsidiary of East China Mineral Exploration and Development Bureau.”
https://hotcopper.com.au/threads/ann-resignation-of-director.2617078/#.XtVyATozbIU


“TNG Limited (ASX: TNG) advises that, due to his increasing business commitments, non-executive Director Mr Zhigang Wang has indicated that he will not be seeking re-election at the Company’s Annual General Meeting, which is scheduled to be held on Monday, 30 November 2015 at 2.00pm.”
https://hotcopper.com.au/threads/ann-retirement-of-director.2621046/#.XtVxZzozbIU


2016

“TNG TAKES PIVOTAL STEP TO SECURING FUNDING FOR MOUNT PEAKE PROJECT WITH GERMAN ENGINEERING Group AGREEMENT TO JOINT TECHNOLOGY EXCHANGE FOR COMMERCIAL DEVELOPMENT OF TIVAN REFINERY
TNG’s Managing Director, Mr Paul Burton, said he was delighted to have secured the involvement of SMS as a key development partner to progress the TIVAN® refinery through the construction phase.”


A couple of comments from my own research and from listening to commentators.

ECE is a Chinese State owned enterprise.   The current Chinese leader, XI Jinping, took over the Chinese leadership in 2012 and is considered more authoritarian and less embracing/open to the West than the previous Chinese leader.

Also interesting to note the difference in the retirement/resignation announcements in 2015 for the ECE representative on the TNG Board, Jianrong Xu, and the private company, Aosu, representative on the Board, Zhigang Wang.

ECE sold all of their shareholding in TNG.   Aosu is still a Top 10 shareholder.


(edit)  don't know why those emojis are there.  They came up after posting definitely not put there by me!!