Date: Sep 26, 2018
BEIJING (Asian Metal) 26 Sep 18 – On September 24, Australian-based TNG Limited advised that it has executed a binding subscription agreement with leading Indian mining conglomerate the Vimson Group, through its Singapore-based, wholly owned subsidiary, V.M. Salgaocar & Bro. (Singapore) Pte.Ltd., , for a strategic investment into TNG of approximately $10M (before costs).
The strategic investment comes as TNG continues to move towards development of its flagship 100%-owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory and represents a significant vote of confidence both in the project and the Company’s financing and development strategy.
