Date: Nov 21, 2017
Australian strategic metals company TNG Limited (ASX: TNG) is pleased to advise that it has completed an updated Feasibility Study (FS) and Financial Model for its flagship 100%-owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory.

The results of the FS reconfirm and enhance the outcomes reported in the Definitive Feasibility Study (DFS) completed in 2015 (see ASX Announcement 31 July 2015). The updated results underline the Project’s strong economic and technical fundamentals are summarised in Table 1 below.

The updated FS has achieved a new pre-production Capital Expenditure (CAPEX) of A$853 million representing a significant decrease of A$117 million from the 2015 DFS CAPEX of A$970 million, due primarily to the optimisations achieved during the past 18 months. The financial model has shown an increase in the Project’s pre-tax internal rate of return (IRR) to 44% (up from 41%) on with only a moderate increase in forecast Operating Expenditure (OPEX) from A$167 to a$185 per tonne of ore processed2 and a reduced payback period of 3 years.

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