WOOJIN

Aspiring miner TNG has moved a step closer to its Mount Peake titanium-vanadium-iron project in the Northern Territory, after inking a financing agreement with Caterpillar Financial.

Shares in Subiaco-based explorer TNG were up 20 per cent this morning, after the company announced it had signed a binding agreement with major Chinese steel-related raw material distributor Sinometal (Shanghai) Co., for its Northern Territory project.

Subiaco-based metals explorer TNG has secured $5 million through a placement to fund the definitive feasibility study on its Mount Peake vanadium-titanium-iron project in the Northern Territory.

Subiaco-based explorer TNG has flagged a potential financing and construction deal with South Korean steel giant POSCO for its Mount Peake vanadium project.