TNG has filed an International Patent Application for the new hydrometallurgical process developed for its Mount Peake Iron Vanadium Project in the Northern Territory. Using hydrometallurgy, the newly named TIVANTM process has effectively extracted commercial grades of vanadium, titanium and iron from the Mount Peake Deposit. This new process has the potential to contribute to the low cost development of this vanadium project. TIVANTM was jointly created last year in conjunction with TNG’s metallurgical consultants, Mineral Engineering Technical Services Private Limited. The process uses a combination of acid leaching, solvent extraction and chemical stripping to selectively recover the valuable metals. TNG is currently progressing Pre Feasibility work on schedule for completion in October 2011 with engineering, process design, hydrology, Native Title and environmental studies in progress. The company intends to upgrade the current JORC Inferred Resource of 139 million tns at 0.29% vanadium, 5.34% titanium and 23.66% iron, to the higher confidence categories of Measured and Indicated.