TNG Limited

Mount Peake Project Economics

Interim financial analysis of the Mount Peake Project as at August 2019*

Key Physicals Interim Financial Model
Pre-production CAPEX

(infrastructure, mine site, concentrator, process plant)

A$824 million


IRR pre-tax 33%
NPV (at 8% discounted) A$2.8 billion
Pay back 2.8 years
Pre-tax net annual average cash-flow A$359 million
Life-of-mine net cash-flow A$12.2 billion
Ore feed 2 Mtpa
Scheduled mined processed material LoM 69 Mt
Magnetic concentrate LoM 23.3 Mt
Fe2O3 LoM 17.6 Mt
V2O5 LoM 0.231 Mt
Titanium Pigment LoM 3.5 Mt
OPEX per tonne of ore processed** A$210


The Interim Financial Model is an updated version of the Feasibility Study financial model (see ASX announcement dated 20 November 2017) following optimisation of the mining schedule to a single-stage, 2 million tonnes per annum mining operation.

Further details on the Interim Financial Model can be found on the ASX Announcement of 11 September 2019.


*Updated assumptions include long-term A$; US$ exchange rate of 0.70; updated long-term price assumptions of US$25,400/tonne for V2O5 (US$11.50/lb), US$3,600.00/t TiO2 pigment and US$102.00/tonne for high grade Fe2O3.

**Includes lease repayments

Note: ALL prices and outcomes are indicative only while the FEED process is progressing and is an interim study, not final.



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