TNG Limited (ASX: TNG) has made a company defining achievement and has now received the Australian Trade Mark Registration Certificate for TIVAN.
TIVAN is the name of the new hydrometallurgical process developed for the company's wholly owned Mount Peake Iron-Vanadium-Titanium Project in the Northern Territory.
The Trade Mark registration protects the use of the name TIVAN for a period of ten years and may be renewed for successive periods of ten years thereafter.
Mount Peake continues to evolve and currently hosts a JORC Indicated and Inferred Resource of 160 million tonnes at 0.3% V2O5, 5% TiO2 and 23% iron. The Indicated component is 110 million tonnes at 0.29% V2O5, 5.3% TiO2 and 23% iron.
The potential of TNG has not been lost on UK broker Old Park Lane Capital, which earlier in the month reiterated a target price on the company of $0.45, which is five times the current valuation.
Pilot testwork at Mount Peake underway
Earlier in the month TNG moved to a new stage at Mount Peake with another key step in pilot plant testwork.
The new work is to test the proprietary TIVAN™ solvent extraction process, which is a chemical phase which will run continuously during this testwork at the ALS-AMMTEC laboratory in Perth using modified solvent extraction equipment.
The focus of the work is to complete a definitive test of the commercial potential of the TIVAN™ process to produce a high-purity aqueous vanadium solution, which could then be the forerunner to commercial grade production of vanadium pentoxide.
TNG has already completed exhaustive bench scale and optimisation testwork, which focused on the final stage of the process, which involves the production of the final marketable products from the Mount Peake deposit of iron, vanadium and titanium.
Moving forward, TNG will conduct additional pilot plant testwork early in the June 2012 quarter to confirm the iron and titanium grade.