Ann: Vanadium - Titanium Value Opportunity, page-12

The AVL deposit at Gabanintha is running at +0.8% vanadium as a comparison and whilst these numbers are comparable to the Mt Peake resource, they are both sub-economic deposits IMO.

My interpretation of this is that imo Mt Peake is a sub-economic deposit. I queried you on that but as you have not responded as yet I am posting this information. Btw, I held shares in TNG (Mt Peake) for a few years but sold as I ran out of patience. I have always liked it, still do and it's a potential monster, just a slowly developing one.

I appreciate that today's ann may not mean much to some people, thinking that, like Chunderloo, it's just a beat-up; and while I have a doubt about the longer-term merits because of the timing and that it's very early days, I still believe that there is something positive about the news for the company as it adds another exploration dimension.

Anyway:

1. From the TNG site, my emphasis.

"The deposit was discovered in 2008 when TNG outlined a magnetite-bearing gabbro containing high-grade vanadium, titanium and iron. The mineralisation commences at shallow depths making the deposit readily amenable to open pit mining.
Mount Peake currently has a total JORC Resource estimate of 160Mt @ 0.28% vanadium (V205), 5% titanium (TiO2) and 23% iron (Fe), 118Mt of which is a Measured Resource status. A Feasibility Study was completed in July 2015 with forecast 20 year life of mine operation, cash flow of A$11.6 billion, a NPV of A$4.9 billion and a pre-tax IRR of 41%."

2. A post (2 in fact) from TNG by Wise_One. Check out the vanadium link

https://hotcopper.com.au/threads/tmt-vs-tng.3354924/page-2?post_id=23988426#.WPXBaIVOJPY