Binding Term Sheet signed for a life-of-mine off-take agreement with Swiss-based global market expansionservices provider DKSH for up to 100% of titanium pigment production from Mount Peake
I wonder how long this will take? Maybe the banks decision by end of year if we are lucky.
SMS group appointed to commence front-end engineering and design (FEED) for the entire Mount PeakeProject and provide a fixed-price EPC proposal. Mandate encompasses the Mount Peake mine siteConcentrator, the TIVAN® Processing Plant and all associated plant and equipment.
Under the mandate letter, KfW IPEX-Bank will structure, coordinate, lead, arrange and manage a syndicate to raisea targeted amount of US$600 million (A$850 million) to underpin the project financing package. The final capitalrequirements will be precisely determined and optimised during the ongoing Mount Peake Front-End Engineeringand Design (FEED) study (see below) and lender’s due diligence.
If I am right.....the MMP is needed for the Mining Licence. From past history I don't trust the NT govs timelines as much as PB's!!
The development of the Mine Management Plan (MMP) for the Mount Peake Mine Site and Concentrator wascompleted during the quarter and is now being finalised. Finalisation of the MMP requires the addition of detailedplanned mining schedules, mine structural information and continued environmental monitoring of the area.Concurrently, TNG is working towards a community benefit fund for the Mount Peake area which will help supportthe local community. TNG expects to submit the MMP to the NT Government for approval in early 2019.
Hopefully APM have documented every season except summer.
The Environmental Impact Study (EIS) for the proposed TIVAN® downstream processing plant facility in Darwin isnearing completion with TNG’s appointed consultant, Animal Plant Mineral (APM) performing seasonal biologicalsurveys.
Hopefully some interest was there to tickle DKSH
TNG attended the 121 conferences in Hong Kong in October 2018 and London in November 2018 as part of itsmarketing and investor engagement strategy. It also attended the TiO2 “Chinacoat” fair together with its offtakepartner DKSH in December
TNG Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
