Here is what I have sent to TNG seeking some clarification - I have only copied the questions as in my correspondence I had further info liking back to various TNG announcements.
I would appreciate your responses to thefollowing questions. I want to stress that I am not seeking special access tosensitive information but these questions are on the minds of all shareholdersand given the recent AGM voting I believe it is important that you and the BODof TNG start 2019 with a more inclusive communication strategy.
If you make an announcement to the marketin regards to something considered material there is a duty that shouldsomething change in the relationship then this should also be announced in atimely manner to the market.
Remember you are working on behalf of theshareholders.
Question 1
TNG’s announcement of the MOU with WOGEN indicates it is a binding offtake agreement for titanium TIO2 output.
Can you please confirm that this MOU isstill in place and whether it is binding and if so what percentage ofproduction is committed.?
Question 2
Given the above it would appear that wehave now signed another Binding Term Sheet with DKSH for up to 100% of the TIO2production. Is there any minimum commitment from DKSH and if so what percentage?
Question 3
Given this binding term sheet what arethe implication for WOGEN and our MOU ?
Question 4
TNG’s announcement is a binding LOMoff-take agreement with Woojin for minimum 60% of Vanadium output.
Can you please confirm that this bindingagreement is still in place given that 3 years plus duration ?
Question 5
Has TNG converted this LOI into a bindingoff-take agreement with GUNVOR ?
Question 6
With VIMSON being a strategic investor inTNG again the market would appreciate an update as to when we will know thelevel of commitment of VIMSON to TNG – currently there is only entering intodiscussions for an offtake for anywhere between 0 % - 100% ?
Could you provided some guidance as towhy this placement was done, if they are a strategic investor then it should bein everyone interest to have their relationship with TNG finalised ?
Question 7
What is the impact of this agreementgiven we have a binding off-take agreement for the Iron Product with GUNVOR ?
Vimson – 24 September 2018
After showing extensive interest in TNG,the Vimson Group proposed a strategic investment into the company in line withtheir own strategic growth and diversification objectives. In addition to theinvestment, TNG has agreed to enter into discussions with the Vimson Group for potential offtake of 100% of its high purity iron ore products that it plans to produce using its TIVAN Process at Mount Peake.
Question 8
Could you please provide a status updateto the market in regards to this evaluation with BBI or provide a likely targetdate for the next milestone in the review process ?
