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Vanadium-focused TNG to seek dual listing on London Stock Exchange

TNG Ltd. will seek a dual listing on the London Stock Exchange, expected to be completed in 2020, while retaining its primary listing on the ASX.

The company said Oct. 23 that the move will increase its international profile. Managing Director and CEO Paul Burton said the proposed dual listing supports the overall funding strategy for the company's Mount Peake vanadium-titanium-iron project in Australia's Northern Territory.

TNG, which is planning to do an investor roadshow in the first quarter of 2020, said it has not decided whether it will seek to raise funds through issuing new shares at the time of admission to the LSE.

The company recently downgraded plans for the Mount Peake development, outlining an initial single-stage operation of 2 million tonnes per annum to reduce capital expenditure and extend the potential life of the mine.