TNG seeks reapproval for NT base metals spin-off plan
JOHANNESBURG (miningweekly.com) – Strategic metals company TNG plans to have a second go at the demerger of a portfolio of noncore zinc and copper assets in the Northern Territory.
The ASX-listed company originally announced the demerger in April last year and gained shareholder approval for the spin-off the following month, but shelved the plan, owing to prevailing market conditions at the time.
TNG reported on Monday that it planned to convene a shareholder meeting to reapprove the demerger, citing an improvement in market conditions for the junior resource and exploration sector.
The assets would be spun off via TNG subsidiary, Todd River Resources, which was expected to seek an ASX listing.
“Upon completion of the demerger, Todd River will have one of the largest base metals exploration footprints in the Northern Territory, with ownership of a number of advanced assets including the large Manbarrum zinc project,” TNG reported.
The other assets are the Petermans, Sandover, Mount Hardy, Walabanba, Rover, Goddards, McArthur River, Melville Island and Croker Island projects.
TNG’s core focus is the development of the Mt Peake vanadium/titanium/iron project, also in the Northern Territory.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation