TNG Updates

TNG Change of Management | Update 3


Yesterday I appeared on AusBiz for a brief segment outlining the basis and origin of the campaign to change management at TNG Limited. A replay is included in our Media section.

In the segment I emphasised the importance of acting in the best interests of TNG, and my role through this transition period as a steward for TNG shareholders and stakeholders. That will remain the case for the duration.

I also appealed to Mr Burton publicly, as I did last week privately, to come to the table with legal representation, in order to negotiate an expedited and orderly transition. The ball remains in management's court.

The segment also included two slides, which have been reformatted, and are included as a link here.

The second slide addresses some of the queries received regarding the Roadmap I see ahead for TNG. 

I need to emphasise that this Roadmap is indicative only. While it is typical for major shareholders to have greater access to the Board, I am still operating only from publicly available information. It is fair to assume that I have done much more due diligence than the typical retail investor, but there is still much I do not know, particularly in terms of guidance around CAPEX for Mount Peake. This remains the responsibility of current management.

I am nonetheless comfortable in publishing the indicative Roadmap, as Shareholders are entitled to have sense of what is proposed in terms of plans and priorities. 

These will be discussed further at upcoming Roadshow events, commencing this Thursday evening in Sydney, at 6.30 pm. Please confirm your attendance via Update 2.

As before, please feel free use the Contact section if you have comments, suggestions or queries, and thank you to all those who have already.


Grant Wilson

Proposed Chair of TNG Limited