Dear Subscriber
The Directors of TNG Limited would like to draw your attention to today�s announcement entitled "Research Report Update - OPL".

"It�s been another productive week for ASX-listed TNG Limited (ASX: TNG) � the company has been busy ticking off key milestones to maintain the pace of pre-feasibility and development work at the flagship Mount Peake vanadium-titanium-iron deposit in the Northern Territory of Australia. An initial $2m of funding has been received from ECE, part of a planned $13.4m investment by the Chinese group. TNG has also completed a positive first meeting with the Central Land Council (�CLC�), the statutory authority in the Northern Territory responsible for native title issues and a representative Aboriginal body.

We maintain our target price of A$0.27 per share (fully diluted) and a BUY recommendation. TNG�s rapid progress continues to exceed our expectations and Q4 looks set for strong news-flow with a resource update and the anticipated completion of the PFS and metallurgical test work at Mount Peake all on the cards. TNG�s share price has held firm against three months of market volatility and a broad sell-off in junior mining equities. We reiterate our view that the shares represent a cheap entry point prior to the slated project developments in the fourth quarter, which we believe may drive a significant re-rating of the stock."

Visit the Analyst Reports page of our website for full details or please click here to view the research report.
The Directors of TNG Limited