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TNG - TNG Limited

greggles

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TNG Limited has announced that it has signed a Binding Life-of-Mine Off-take and Marketing Agreement with the leading Market Expansion Services provider DKSH to purchase, on a life-of-mine basis, up to 100% of the titanium dioxide (TiO2) pigment that will be produced by its flagship 100%-owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory.

The key points from the announcement:
  • DKSH will provide full distribution services, including freight financing, technical support, logistics, marketing and sales for TNG's TiO2 product(s) from the Mount Peake Vanadium-Titanium-Iron Project.
  • TNG will sell, and DKSH will purchase, up to 150,000 tons per year – or 100% of TNG's TiO2 production – on an FOB basis to distribute globally, excluding the Iberian Peninsula and European Nordic countries and subject to the terms and conditions of the agreement.
  • TNG will initially produce a high-durability pigment for the outdoor coating industry,which represents the largest pigment market, before expanding to other high-value niche markets.
  • TNG already has binding life-of-mine off-take agreements in place for vanadium with Korean group WOOJIN and Binding Terms for iron products with Gunvor.
  • The finalisation of a binding off-take agreement for titanium dioxide production means that TNG will have binding sales contracts in place for all three of its high-value products, supporting its funding and commercialisation strategy for the Mount Peake Project.
Today's announcement has lifted the TNG share price 30% to 13c on strong volume of more than 5.5 million shares.

Looks like things are falling into place at Mount Peake for TNG. Exciting times for the company.

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I was chatting to my mate at work yesterday about TNG and it I thought this company looks OK and when I fly back home I will have a better look.

mmmmm then away she goes before I even get a chance to have a look... typical.

anyway time to stop sooking and I will still have a look tonight as it still has plenty of upside.

up 13% today due to the following announcement

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This was what got my original attention and the above announcement was a total surprise.



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and this is why I keep out of this pool of stocks

just when shareholders think that the shackles have been broken and SP can go for a run....BOOM back down to 10.5c (-12.5%)

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