TNG Receives $2.6 Million R&D Tax Refund; Shares Down 6%

(MT Newswires) — TNG (ASX:TNG) received a research and development tax rebate of AU$3.7 million ($2.6 million).

The tax refund was for research and development activities related to the company’s Mount Peake vanadium-titanium-iron project in the Northern Territory and the TIVAN processing technology, according to a Wednesday news release.

TNG shares were down 6% in recent trade.

Price (AUD): $0.08, Change: $0.00, Percent Change: -6.25%