Australian strategic metals company TNG has secured a cornerstone investment from global engineering group SMS as part of a wider $4-million institutional share placement to provide working capital for the Mount Peake vanadium/titanium/iron project in the Northern Territory.
The placement would comprise of about 36.36-million shares at a price of 11c a share. SMS has agreed to subscribe for 14-million of the shares, or $1.5-million, giving the group a 2% stake in TNG.
