TNG : VSA Capital Research report

0e58cf6a-aeed-42a6-9a80-4d30af2e6771.pdf

ASX ANNOUNCEMENT

VSA CAPITAL LIMITED RESEARCH REPORT

25 January 2016

TNG Limited (ASX: TNG) is pleased to advise that VSA Capital Limited has initiated coverage of TNG Limited.

A copy of their report entitled "Strategic Metals Leader" can be found under the "Investor Centre - Reports"

section of the company's website below. http://tngltd.com.au

Paul E Burton Managing Director

25 January 2016

Inquiries: Paul E Burton

Managing Director + 61 (0) 8 9327 0900

Nicholas Read

Read Corporate + 61 (0) 8 9388 1474

Disclaimer

This information is produced by a third party (Third Party Information). TNG Limited commissioned VSA Capital Limited to conduct this report. It may contain information about the activities of TNG Limited and its subsidiaries (Group) but it does not purport to be a complete description of the Group and/or its various business activities. No representation or warranty, express or implied, is made by any person including TNG Limited or its directors, officers, employees, advisers, agents or affiliates as to the fairness, accuracy, completeness, or correctness of the information, opinions and conclusions contained in this Third Party Information, or as to the reasonableness of any assumptions, forecasts, prospects or returns contained in, or implied by, this Third Party Information or any part of it. TNG Limited assumes no liability and has no obligation to tell recipients if it becomes aware of any inaccuracies in or omissions from Third Party Information.

Except for statutory liability which may not be excluded, no responsibility is accepted by TNG Limited or any of its directors, officers, employees, advisers, agents or affiliates for any loss or damage howsoever occurring (including through negligence) resulting from the access, use or reliance upon any Third Party Information by any person, and any such access, use or reliance is solely at your own risk. You are responsible for forming your own opinions and should seek your own independent professional advice in relation to Third Party Information. In particular, you are cautioned not to place undue reliance on any forward-looking statements, forecasts or views as to prospects in any Third Party Information, as there can be no assurances that actual outcomes will not differ materially from such forward-looking statements

ASX CODE: TNG ABN 12 000 817 023	REGISTERED OFFICE Level 1, 282 Rokeby Road	T [phone] F [phone]	W www.tngltd.com.au E [e-mail]
Subiaco, Western Australia 6008

About TNG

TNG is building a world-scale strategic metals business based on its flagship 100%-owned Mount Peake Vanadium-Titanium- Iron Project in the Northern Territory. Located 235km north of Alice Springs, Mount Peake will be a long-life project producing a suite of high-quality, high-purity strategic metals products for global markets including vanadium pentoxide, titanium dioxide and pig iron. The project, which will be a top-10 global producer, has received Major Project Facilitation status from the NT Government.

The Mount Peake Feasibility Study was completed in July 2015, demonstrating that the Mount Peake Project has the potential to generate significant returns, paving the way for final approvals, project financing and development to proceed. An integral part of TNG's emerging strategic metals business is its 100% ownership of the TIVAN® hydrometallurgical process, which successfully extracts all three valuable metals from the Mount Peake resource.

Vanadium is a highly strategic metal which is used as an alloy in steel. It is also increasing in demand for use in energy storage, with vanadium redox batteries used to store electricity generated by solar and wind power, and lithium-vanadium ion batteries used to power hybrid cars.

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