8a7c88bb-46d3-43cb-b2e0-8b39f3369338.pdf
ABN 12 000 817 023
ANNUAL REPORT
2015
DIRECTORS
Michael Evans (Acting Chairman) Paul Burton (Managing Director)
Geoffrey Crow (Non-Executive Director) Rex Turkington (Non-Executive Director) Wang Zhigang (Non-Executive Director)
COMPANY SECRETARY
Simon Robertson
REGISTERED OFFICE
Level 1, 282 Rokeby Road Subiaco Western Australia 6008
PO Box 1126
Subiaco Western Australia 6904 Telephone: (08) 9327 0900
Facsimile: (08) 9327 0901 Website:www.tngltd.com.au
SHARE REGISTRY
Computershare Investor Services Pty Limited Level 2
45 St Georges Terrace
Perth Western Australia 6000 Telephone: (08) 9323 2000
Facsimile: (08) 9323 2033
AUDITORS
KPMG
235 St Georges Terrace
Perth Western Australia 6000
DOMESTIC STOCK EXCHANGE
Australian Securities Exchange (ASX) Code: TNG
INTERNATIONAL STOCK EXCHANGE
German Stock Exchanges Code: HJI
Review of Operations 2
Corporate Governance Statement 20
Directors' Report 28
Auditor's Independence Declaration 40
Consolidated Statement of Comprehensive Income 41
Consolidated Statement of Financial Position 42
Consolidated Statement of Cash Flows 43
Consolidated Statement of Changes in Equity 44
Notes to the Financial Statements 45
Directors' Declaration 75
Independent Audit Report 76
Additional ASX Information 78
TNG LIMITED ANNUAL REPORT 2015 1
2015 HIGHLIGHTS - YEAR IN REVIEW
'Subject to all approvals, permitting and financing, construction of Mount Peake is planned to commence in 2016 with first production scheduled for early 2018.'
► Definitive Feasibility Study (DFS) completed on the Mount Peake Vanadium-Titanium-Iron Project, outlining a potentially world-class project capable of delivering robust financial and technical outcomes including an NPV of $4.9 billion and pre-tax IRR of 41%.
► Funding, development and off-take discussion progressing with an extensive portfolio of Tier One strategic partners including several major South Korean steel and industrial conglomerates.
► All phases of the improved TIVAN® downstream hydrometallurgical process flow-sheet and pilot plant completed satisfactorily, paving the way for commercialisation to proceed.
2 TNG LIMITED ANNUAL REPORT 2015
Mount Peake
Vanadium and Titanium Project
Conceptual Design